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

PNC Financial Services Group Inc. increased its stake in shares of Littelfuse, Inc. (NASDAQ:LFUS) by 9.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,059 shares of the technology company’s stock after purchasing an additional 337 shares during the period. PNC Financial Services Group Inc.’s holdings in Littelfuse were worth $1,077,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LFUS. SG Americas Securities LLC raised its stake in Littelfuse by 399.7% during the 2nd quarter. SG Americas Securities LLC now owns 4,712 shares of the technology company’s stock valued at $1,204,000 after buying an additional 3,769 shares during the last quarter. Chesapeake Capital Corp IL purchased a new stake in Littelfuse during the third quarter valued at $570,000. Thrivent Financial for Lutherans lifted its holdings in Littelfuse by 1.4% in the third quarter. Thrivent Financial for Lutherans now owns 278,158 shares of the technology company’s stock valued at $73,781,000 after acquiring an additional 3,831 shares during the period. Victory Capital Management Inc. boosted its position in Littelfuse by 13.2% in the second quarter. Victory Capital Management Inc. now owns 501,504 shares of the technology company’s stock worth $128,179,000 after purchasing an additional 58,529 shares during the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of Littelfuse by 3.4% during the 2nd quarter. Federated Hermes Inc. now owns 209,976 shares of the technology company’s stock valued at $53,668,000 after purchasing an additional 6,814 shares during the period. Institutional investors own 96.14% of the company’s stock.

Littelfuse Trading Down 0.6 %

Shares of Littelfuse stock opened at $245.84 on Thursday. Littelfuse, Inc. has a fifty-two week low of $222.91 and a fifty-two week high of $275.58. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.52 and a current ratio of 3.55. The company has a market capitalization of $6.10 billion, a P/E ratio of 31.60, a P/E/G ratio of 2.47 and a beta of 1.28. The company has a fifty day moving average of $254.28 and a 200 day moving average of $256.10.

Littelfuse (NASDAQ:LFUS) last released its quarterly earnings data on Tuesday, October 29th. The technology company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.09 by $0.62. The firm had revenue of $567.39 million during the quarter, compared to analyst estimates of $557.38 million. Littelfuse had a return on equity of 8.49% and a net margin of 8.88%. The business’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.97 earnings per share. On average, sell-side analysts anticipate that Littelfuse, Inc. will post 8.47 earnings per share for the current fiscal year.

Littelfuse Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Thursday, November 21st. Littelfuse’s dividend payout ratio (DPR) is presently 35.99%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on LFUS shares. Oppenheimer upgraded shares of Littelfuse from a “market perform” rating to an “outperform” rating and set a $310.00 price objective on the stock in a research note on Thursday, October 17th. Benchmark reiterated a “hold” rating on shares of Littelfuse in a research report on Wednesday, October 30th. StockNews.com raised shares of Littelfuse from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Stifel Nicolaus raised Littelfuse from a “hold” rating to a “buy” rating and raised their target price for the stock from $270.00 to $280.00 in a report on Tuesday, August 13th. Finally, TD Cowen lifted their target price on Littelfuse from $250.00 to $260.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $285.00.

Insider Buying and Selling

In related news, SVP Matthew Cole sold 1,436 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $246.02, for a total value of $353,284.72. Following the sale, the senior vice president now directly owns 5,522 shares in the company, valued at approximately $1,358,522.44. The trade was a 20.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.30% of the stock is owned by company insiders.

Littelfuse Company Profile

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.