BlackRock Inc. decreased its position in shares of Littelfuse, Inc. (NASDAQ:LFUS) by 1.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,178,839 shares of the technology company’s stock after selling 28,813 shares during the quarter. BlackRock Inc. owned 0.09% of Littelfuse worth $385,458,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cresset Asset Management LLC raised its stake in shares of Littelfuse by 273.0% during the second quarter. Cresset Asset Management LLC now owns 1,257 shares of the technology company’s stock valued at $222,000 after purchasing an additional 920 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Littelfuse by 2.2% during the second quarter. Royal Bank of Canada now owns 84,117 shares of the technology company’s stock valued at $14,881,000 after purchasing an additional 1,790 shares in the last quarter. DF Dent & Co. Inc. raised its stake in shares of Littelfuse by 64.1% during the second quarter. DF Dent & Co. Inc. now owns 21,037 shares of the technology company’s stock valued at $3,722,000 after purchasing an additional 8,217 shares in the last quarter. Stonebridge Capital Advisors LLC bought a new stake in shares of Littelfuse during the second quarter valued at about $106,000. Finally, Doyle Wealth Management bought a new stake in shares of Littelfuse during the second quarter valued at about $35,000. 98.45% of the stock is owned by institutional investors.
Shares of Littelfuse stock opened at $176.90 on Thursday. The company has a current ratio of 4.05, a quick ratio of 3.09 and a debt-to-equity ratio of 0.47. The company’s 50-day moving average price is $181.62 and its two-hundred day moving average price is $174.06. Littelfuse, Inc. has a 52 week low of $149.80 and a 52 week high of $206.00. The stock has a market cap of $4.48 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 2.46 and a beta of 1.05.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.48 per share. The ex-dividend date is Wednesday, November 20th. This represents a $1.92 annualized dividend and a yield of 1.09%. Littelfuse’s payout ratio is presently 20.34%.
Several equities research analysts have commented on LFUS shares. Stifel Nicolaus dropped their price target on shares of Littelfuse from $170.00 to $165.00 and set a “hold” rating on the stock in a research report on Thursday, October 31st. Oppenheimer cut shares of Littelfuse from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 31st. Robert W. Baird cut shares of Littelfuse from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $193.00 to $171.00 in a research report on Thursday, August 1st. Jefferies Financial Group started coverage on shares of Littelfuse in a research report on Thursday, October 3rd. They issued a “buy” rating and a $215.00 price target on the stock. Finally, ValuEngine upgraded shares of Littelfuse from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Littelfuse has a consensus rating of “Buy” and an average target price of $195.86.
In other Littelfuse news, SVP Deepak Nayar sold 2,264 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $183.96, for a total transaction of $416,485.44. Following the sale, the senior vice president now owns 5,766 shares in the company, valued at approximately $1,060,713.36. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Jeffrey G. Gorski sold 600 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $183.93, for a total value of $110,358.00. Following the sale, the chief accounting officer now owns 3,312 shares in the company, valued at approximately $609,176.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,456 shares of company stock worth $635,106. Corporate insiders own 3.50% of the company’s stock.
Littelfuse Company Profile
Littelfuse, Inc designs, manufactures, and sells circuit protection, power control, and sensing products worldwide. The company's Electronics segment offers fuses and fuse accessories, positive temperature coefficient resettable fuses, polymer electrostatic discharge suppressors, varistors, magnetic sensing products, and gas discharge tubes; and discrete transient voltage suppressor (TVS) diodes, TVS diode arrays, protection and switching thyristors, silicon carbide, metal-oxide-semiconductor field-effect transistors, and silicon carbide diodes, as well as insulated gate bipolar transistors.
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