PNC Financial Services Group Inc. Boosts Stock Position in Littelfuse, Inc. (NASDAQ:LFUS)

PNC Financial Services Group Inc. lifted its position in Littelfuse, Inc. (NASDAQ:LFUS) by 24.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,116 shares of the technology company’s stock after buying an additional 3,612 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.07% of Littelfuse worth $4,847,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of LFUS. HighTower Advisors LLC increased its holdings in Littelfuse by 3.2% during the 3rd quarter. HighTower Advisors LLC now owns 3,052 shares of the technology company’s stock worth $740,000 after purchasing an additional 96 shares during the period. UBS Group AG increased its holdings in Littelfuse by 21.4% during the 3rd quarter. UBS Group AG now owns 49,081 shares of the technology company’s stock worth $12,139,000 after purchasing an additional 8,663 shares during the period. Citigroup Inc. increased its holdings in Littelfuse by 12.9% during the 3rd quarter. Citigroup Inc. now owns 2,255 shares of the technology company’s stock worth $558,000 after purchasing an additional 257 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new stake in Littelfuse during the 3rd quarter worth about $607,000. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Littelfuse by 62.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 144,473 shares of the technology company’s stock valued at $35,731,000 after acquiring an additional 55,712 shares during the last quarter. Hedge funds and other institutional investors own 96.14% of the company’s stock.

Littelfuse Stock Up 1.9 %

Shares of NASDAQ LFUS opened at $263.12 on Wednesday. The stock has a market cap of $6.52 billion, a PE ratio of 30.14, a price-to-earnings-growth ratio of 2.50 and a beta of 1.29. The company has a quick ratio of 2.44, a current ratio of 3.57 and a debt-to-equity ratio of 0.32. Littelfuse, Inc. has a 52-week low of $212.80 and a 52-week high of $309.94. The business has a 50-day moving average price of $247.52 and a 200 day moving average price of $245.36.

Littelfuse (NASDAQ:LFUS) last announced its earnings results on Tuesday, April 30th. The technology company reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.01. The firm had revenue of $535.39 million during the quarter, compared to analysts’ expectations of $519.08 million. Littelfuse had a return on equity of 10.21% and a net margin of 9.58%. The business’s revenue was down 12.2% on a year-over-year basis. During the same period in the prior year, the firm earned $3.64 EPS. Equities research analysts forecast that Littelfuse, Inc. will post 8.59 earnings per share for the current year.

Littelfuse Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Thursday, May 23rd were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.99%. Littelfuse’s payout ratio is 29.78%.

Analyst Ratings Changes

A number of research firms have recently commented on LFUS. Robert W. Baird upgraded Littelfuse from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $270.00 to $300.00 in a report on Friday, May 17th. Benchmark reiterated a “hold” rating on shares of Littelfuse in a report on Thursday, May 2nd. StockNews.com downgraded Littelfuse from a “buy” rating to a “hold” rating in a report on Saturday, March 30th. Jefferies Financial Group began coverage on Littelfuse in a report on Tuesday, April 9th. They issued a “hold” rating and a $260.00 price objective on the stock. Finally, Baird R W upgraded Littelfuse from a “hold” rating to a “strong-buy” rating in a report on Friday, May 17th. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $280.00.

Insiders Place Their Bets

In other Littelfuse news, CFO Meenal Sethna sold 6,114 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $256.49, for a total transaction of $1,568,179.86. Following the completion of the sale, the chief financial officer now directly owns 22,432 shares of the company’s stock, valued at approximately $5,753,583.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Deepak Nayar sold 1,305 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $250.25, for a total transaction of $326,576.25. Following the completion of the transaction, the senior vice president now directly owns 4,630 shares of the company’s stock, valued at approximately $1,158,657.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Meenal Sethna sold 6,114 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $256.49, for a total value of $1,568,179.86. Following the completion of the transaction, the chief financial officer now directly owns 22,432 shares of the company’s stock, valued at $5,753,583.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,638 shares of company stock valued at $2,463,552. 2.30% of the stock is owned by company insiders.

About Littelfuse

Littelfuse, Inc designs, manufactures, and sells electronic components, modules, and subassemblies in the Americas, Asia-Pacific, and Europe. The company operates through Electronic, Transportation, and Industrial segments. The Electronics segment offers fuses and fuse accessories, positive temperature coefficient resettable fuses, electromechanical switches and interconnect solutions, polymer electrostatic discharge suppressors, varistors, reed switch based magnetic sensing products, and gas discharge tubes; and discrete transient voltage suppressor (TVS) diodes, TVS diode arrays, protection and switching thyristors, metal-oxide-semiconductor field-effect transistors and diodes, and insulated gate bipolar transistors.