MetLife Investment Management LLC Reduces Stock Position in Littelfuse, Inc. (NASDAQ:LFUS)

Posted by Defense World Staff on Jun 18th, 2023

MetLife Investment Management LLC reduced its position in shares of Littelfuse, Inc. (NASDAQ:LFUS – Get Rating) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,576 shares of the technology company’s stock after selling 310 shares during the period. MetLife Investment Management LLC owned 0.06% of Littelfuse worth $3,430,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LFUS. Townsquare Capital LLC lifted its stake in shares of Littelfuse by 1.7% in the fourth quarter. Townsquare Capital LLC now owns 2,394 shares of the technology company’s stock worth $527,000 after buying an additional 40 shares in the last quarter. Commerce Bank raised its stake in shares of Littelfuse by 2.1% in the fourth quarter. Commerce Bank now owns 2,032 shares of the technology company’s stock worth $447,000 after purchasing an additional 41 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Littelfuse by 0.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,282 shares of the technology company’s stock worth $1,603,000 after purchasing an additional 50 shares during the last quarter. Laffer Tengler Investments raised its stake in shares of Littelfuse by 4.5% in the fourth quarter. Laffer Tengler Investments now owns 1,151 shares of the technology company’s stock worth $253,000 after purchasing an additional 50 shares during the last quarter. Finally, Utah Retirement Systems raised its stake in shares of Littelfuse by 1.2% in the fourth quarter. Utah Retirement Systems now owns 4,318 shares of the technology company’s stock worth $951,000 after purchasing an additional 50 shares during the last quarter. Institutional investors own 94.69% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on LFUS shares. StockNews.com started coverage on shares of Littelfuse in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Robert W. Baird lifted their price target on shares of Littelfuse from $260.00 to $285.00 in a research note on Thursday, May 11th. Finally, Stifel Nicolaus raised their price target on Littelfuse from $240.00 to $265.00 in a research note on Thursday, May 4th. Six analysts have rated the stock with a hold rating, According to data from MarketBeat, Littelfuse presently has a consensus rating of “Hold” and a consensus price target of $259.00.

Littelfuse Price Performance

Shares of NASDAQ:LFUS opened at $271.78 on Friday. The firm’s 50 day moving average price is $259.10 and its 200-day moving average price is $252.88. Littelfuse, Inc. has a twelve month low of $192.19 and a twelve month high of $281.78. The company has a quick ratio of 1.62, a current ratio of 2.70 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $6.75 billion, a PE ratio of 19.72, a price-to-earnings-growth ratio of 1.67 and a beta of 1.25.

Littelfuse (NASDAQ:LFUS – Get Rating) last posted its quarterly earnings data on Tuesday, May 2nd. The technology company reported $3.64 EPS for the quarter, topping the consensus estimate of $2.85 by $0.79. The firm had revenue of $609.78 million during the quarter, compared to analyst estimates of $592.51 million. Littelfuse had a return on equity of 17.92% and a net margin of 13.78%. Littelfuse’s revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $4.99 EPS. Equities research analysts expect that Littelfuse, Inc. will post 13.57 EPS for the current year.

Littelfuse Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 8th. Investors of record on Thursday, May 25th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, May 24th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.88%. Littelfuse’s dividend payout ratio (DPR) is presently 17.42%.

Insider Activity at Littelfuse

In related news, CAO Jeffrey G. Gorski sold 700 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $270.15, for a total transaction of $189,105.00. Following the completion of the transaction, the chief accounting officer now directly owns 2,713 shares in the company, valued at approximately $732,916.95. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director T J. Chung sold 1,750 shares of the firm’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $259.22, for a total transaction of $453,635.00. Following the completion of the transaction, the director now directly owns 16,991 shares of the company’s stock, valued at $4,404,407.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jeffrey G. Gorski sold 700 shares of the firm’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $270.15, for a total transaction of $189,105.00. Following the transaction, the chief accounting officer now directly owns 2,713 shares of the company’s stock, valued at $732,916.95. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,525 shares of company stock worth $2,474,621. 2.70% of the stock is owned by company insiders.

Littelfuse Company Profile

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Littelfuse, Inc manufactures and sells circuit protection, power control, and sensing products in the Asia-Pacific, the Americas, and Europe. The company operates through Electronic, Transportation, and Industrial segments. The Electronics segment offers fuses and fuse accessories, positive temperature coefficient resettable fuses, 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.