Retirement Systems of Alabama Reduces Stock Position in Littelfuse, Inc. (NASDAQ:LFUS)

Retirement Systems of Alabama trimmed its holdings in shares of Littelfuse, Inc. (NASDAQ:LFUS) by 1.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,113 shares of the technology company’s stock after selling 477 shares during the period. Retirement Systems of Alabama owned 0.12% of Littelfuse worth $7,987,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Van Lanschot Kempen Investment Management N.V. acquired a new stake in shares of Littelfuse in the second quarter valued at approximately $100,662,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Littelfuse during the 2nd quarter worth $46,037,000. Victory Capital Management Inc. grew its position in Littelfuse by 13.2% during the 2nd 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. Verition Fund Management LLC acquired a new position in Littelfuse in the third quarter valued at $14,480,000. Finally, Jennison Associates LLC raised its holdings in shares of Littelfuse by 38.4% in the third quarter. Jennison Associates LLC now owns 181,141 shares of the technology company’s stock valued at $48,048,000 after buying an additional 50,304 shares during the last quarter. 96.14% of the stock is owned by institutional investors and hedge funds.

Littelfuse Trading Down 2.3 %

Shares of Littelfuse stock opened at $243.74 on Wednesday. Littelfuse, Inc. has a fifty-two week low of $222.91 and a fifty-two week high of $275.58. The business’s fifty day moving average is $250.95 and its two-hundred day moving average is $255.22. The company has a quick ratio of 2.52, a current ratio of 3.55 and a debt-to-equity ratio of 0.31. The firm has a market cap of $6.05 billion, a PE ratio of 31.33, a P/E/G ratio of 2.48 and a beta of 1.26.

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

Littelfuse Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 21st were issued a $0.70 dividend. The ex-dividend date was Thursday, November 21st. This represents a $2.80 dividend on an annualized basis and a yield of 1.15%. Littelfuse’s payout ratio is 35.99%.

Insider Buying and Selling

In other news, CAO Jeffrey G. Gorski sold 700 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $249.02, for a total value of $174,314.00. Following the transaction, the chief accounting officer now directly owns 3,105 shares in the company, valued at $773,207.10. This trade represents a 18.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. StockNews.com raised Littelfuse from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Robert W. Baird boosted their price target on shares of Littelfuse from $300.00 to $315.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Oppenheimer upgraded Littelfuse from a “market perform” rating to an “outperform” rating and set a $310.00 price target on the stock in a report on Thursday, October 17th. Finally, Benchmark reaffirmed a “hold” rating on shares of Littelfuse in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $285.00.

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.