PNC Financial Services Group Inc. Acquires 337 Shares of Littelfuse, Inc. (NASDAQ:LFUS)

PNC Financial Services Group Inc. lifted its holdings in Littelfuse, Inc. (NASDAQ:LFUS) by 9.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,059 shares of the technology company’s stock after acquiring an additional 337 shares during the period. PNC Financial Services Group Inc.’s holdings in Littelfuse were worth $1,077,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Pathstone Holdings LLC raised its position in Littelfuse by 0.6% during the third quarter. Pathstone Holdings LLC now owns 6,522 shares of the technology company’s stock valued at $1,730,000 after purchasing an additional 40 shares during the period. Assetmark Inc. lifted its position in Littelfuse by 6.5% in the third quarter. Assetmark Inc. now owns 719 shares of the technology company’s stock worth $191,000 after buying an additional 44 shares during the last quarter. US Bancorp DE boosted its stake in Littelfuse by 1.4% during the third quarter. US Bancorp DE now owns 3,436 shares of the technology company’s stock worth $911,000 after buying an additional 49 shares during the period. Rathbones Group PLC increased its position in Littelfuse by 0.3% during the second quarter. Rathbones Group PLC now owns 16,624 shares of the technology company’s stock valued at $4,249,000 after acquiring an additional 52 shares during the last quarter. Finally, Tributary Capital Management LLC raised its stake in shares of Littelfuse by 1.4% in the third quarter. Tributary Capital Management LLC now owns 3,940 shares of the technology company’s stock valued at $1,045,000 after acquiring an additional 55 shares during the period. Institutional investors own 96.14% of the company’s stock.

Wall Street Analyst Weigh In

LFUS has been the subject of a number of recent analyst reports. TD Cowen lifted their price target on shares of Littelfuse from $250.00 to $260.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. StockNews.com raised shares of Littelfuse from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Benchmark reaffirmed a “hold” rating on shares of Littelfuse in a research note on Wednesday, October 30th. Robert W. Baird increased their price target on Littelfuse from $300.00 to $315.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Finally, Stifel Nicolaus upgraded Littelfuse from a “hold” rating to a “buy” rating and boosted their price objective for the company from $270.00 to $280.00 in a report on Tuesday, August 13th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $285.00.

Littelfuse Stock Performance

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 market capitalization of $6.10 billion, a PE ratio of 31.60, a P/E/G ratio of 2.47 and a beta of 1.28. The company has a 50 day moving average price of $254.28 and a 200-day moving average price of $256.10. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.52 and a current ratio of 3.55.

Littelfuse (NASDAQ:LFUS) last issued its earnings results on Tuesday, October 29th. The technology company reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.09 by $0.62. Littelfuse had a return on equity of 8.49% and a net margin of 8.88%. The business had revenue of $567.39 million during the quarter, compared to analyst estimates of $557.38 million. During the same period in the previous year, the company posted $2.97 EPS. Littelfuse’s revenue was down 6.5% on a year-over-year basis. As a group, equities analysts forecast that Littelfuse, Inc. will post 8.47 earnings per share for the current year.

Littelfuse Dividend Announcement

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

Insider Buying and Selling at Littelfuse

In other Littelfuse news, SVP Matthew Cole sold 1,436 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $246.02, for a total transaction of $353,284.72. Following the completion of the sale, the senior vice president now owns 5,522 shares in the company, valued at $1,358,522.44. This represents a 20.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.30% of the company’s stock.

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.