State of Michigan Retirement System Lowers Stock Holdings in Littelfuse, Inc. (NASDAQ:LFUS)

State of Michigan Retirement System reduced its position in shares of Littelfuse, Inc. (NASDAQ:LFUS) by 3.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,953 shares of the technology company’s stock after selling 200 shares during the period. State of Michigan Retirement System’s holdings in Littelfuse were worth $1,522,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Covestor Ltd boosted its position in shares of Littelfuse by 28.5% during the first quarter. Covestor Ltd now owns 239 shares of the technology company’s stock worth $58,000 after buying an additional 53 shares during the period. Fifth Third Bancorp raised its stake in shares of Littelfuse by 21.4% in the second quarter. Fifth Third Bancorp now owns 323 shares of the technology company’s stock valued at $83,000 after acquiring an additional 57 shares in the last quarter. Assetmark Inc. raised its stake in shares of Littelfuse by 17.7% in the fourth quarter. Assetmark Inc. now owns 432 shares of the technology company’s stock valued at $116,000 after acquiring an additional 65 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Littelfuse by 4.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 1,716 shares of the technology company’s stock valued at $459,000 after acquiring an additional 68 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its stake in shares of Littelfuse by 1.4% in the fourth quarter. Oppenheimer & Co. Inc. now owns 5,154 shares of the technology company’s stock valued at $1,379,000 after acquiring an additional 72 shares in the last quarter. 96.14% of the stock is currently owned by hedge funds and other institutional investors.

Littelfuse Stock Up 0.5 %

Littelfuse stock opened at $269.62 on Friday. Littelfuse, Inc. has a 1-year low of $212.80 and a 1-year high of $275.58. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.50 and a quick ratio of 2.44. The stock has a market cap of $6.68 billion, a PE ratio of 30.88, a P/E/G ratio of 2.58 and a beta of 1.29. The stock’s fifty day moving average is $258.15 and its two-hundred day moving average is $248.66.

Littelfuse (NASDAQ:LFUS) last posted its earnings results on Tuesday, July 30th. The technology company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.22. Littelfuse had a return on equity of 8.91% and a net margin of 8.71%. The business had revenue of $558.49 million for the quarter, compared to analysts’ expectations of $540.35 million. During the same quarter in the previous year, the firm earned $3.12 earnings per share. The business’s revenue was down 8.7% compared to the same quarter last year. On average, sell-side analysts expect that Littelfuse, Inc. will post 8.37 EPS for the current fiscal year.

Littelfuse Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 22nd will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.04%. This is a positive change from Littelfuse’s previous quarterly dividend of $0.65. Littelfuse’s dividend payout ratio (DPR) is currently 32.07%.

Insider Buying and Selling at Littelfuse

In other Littelfuse news, CEO David W. Heinzmann sold 300 shares of Littelfuse stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $273.17, for a total value of $81,951.00. Following the sale, the chief executive officer now owns 59,654 shares of the company’s stock, valued at approximately $16,295,683.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO David W. Heinzmann sold 300 shares of Littelfuse stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $273.17, for a total transaction of $81,951.00. Following the completion of the sale, the chief executive officer now directly owns 59,654 shares in the company, valued at approximately $16,295,683.18. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO David W. Heinzmann sold 8,715 shares of Littelfuse stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $274.40, for a total transaction of $2,391,396.00. Following the sale, the chief executive officer now owns 59,654 shares of the company’s stock, valued at $16,369,057.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,892 shares of company stock valued at $4,084,701. 2.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Benchmark reiterated a “hold” rating on shares of Littelfuse in a research note on Thursday, May 2nd. Stifel Nicolaus upgraded Littelfuse from a “hold” rating to a “buy” rating and increased their price objective for the company from $270.00 to $280.00 in a research note on Tuesday, August 13th. TD Cowen increased their price objective on Littelfuse from $250.00 to $260.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Robert W. Baird raised their price target on Littelfuse from $300.00 to $315.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Baird R W upgraded Littelfuse from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 17th. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Littelfuse presently has a consensus rating of “Moderate Buy” and an average target price of $278.75.

Littelfuse 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.