Harvey Partners LLC Grows Stock Holdings in Littelfuse, Inc. (NASDAQ:LFUS)

Harvey Partners LLC boosted its position in shares of Littelfuse, Inc. (NASDAQ:LFUS) by 39.5% during the third quarter, Holdings Channel.com reports. The fund owned 132,500 shares of the technology company’s stock after acquiring an additional 37,500 shares during the quarter. Littelfuse accounts for 4.0% of Harvey Partners LLC’s investment portfolio, making the stock its 7th largest holding. Harvey Partners LLC’s holdings in Littelfuse were worth $35,146,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. HighTower Advisors LLC boosted its stake in shares of Littelfuse by 4.4% in the third quarter. HighTower Advisors LLC now owns 3,158 shares of the technology company’s stock worth $839,000 after acquiring an additional 134 shares during the period. Holocene Advisors LP boosted its stake in Littelfuse by 4.2% during the third quarter. Holocene Advisors LP now owns 15,734 shares of the technology company’s stock valued at $4,173,000 after buying an additional 634 shares during the last quarter. Verition Fund Management LLC bought a new stake in Littelfuse in the 3rd quarter worth approximately $14,480,000. Captrust Financial Advisors grew its holdings in shares of Littelfuse by 6.5% in the third quarter. Captrust Financial Advisors now owns 1,488 shares of the technology company’s stock valued at $395,000 after purchasing an additional 91 shares in the last quarter. Finally, Walleye Capital LLC purchased a new stake in Littelfuse during the third quarter valued at $5,389,000. Hedge funds and other institutional investors own 96.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Oppenheimer upgraded Littelfuse from a “market perform” rating to an “outperform” rating and set a $310.00 price objective on the stock in a research report on Thursday, October 17th. Stifel Nicolaus raised shares of Littelfuse from a “hold” rating to a “buy” rating and lifted their price target for the stock from $270.00 to $280.00 in a research note on Tuesday, August 13th. Benchmark restated a “hold” rating on shares of Littelfuse in a report on Wednesday, October 30th. StockNews.com raised shares of Littelfuse from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Finally, Robert W. Baird boosted their price objective on shares of Littelfuse from $300.00 to $315.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $285.00.

Littelfuse Stock Up 0.5 %

Shares of LFUS stock opened at $247.82 on Tuesday. Littelfuse, Inc. has a 1-year low of $222.91 and a 1-year high of $275.58. The company has a market cap of $6.15 billion, a price-to-earnings ratio of 31.85, a price-to-earnings-growth ratio of 2.43 and a beta of 1.27. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.55 and a quick ratio of 2.52. The stock’s fifty day moving average price is $253.38 and its 200 day moving average price is $255.99.

Littelfuse (NASDAQ:LFUS) last announced its quarterly earnings data 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. The firm had revenue of $567.39 million for the quarter, compared to analyst estimates of $557.38 million. Littelfuse had a net margin of 8.88% and a return on equity of 8.49%. The business’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.97 earnings per share. On average, research analysts expect that Littelfuse, Inc. will post 8.47 earnings per share for the current fiscal year.

Littelfuse Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.13%. The ex-dividend date is Thursday, November 21st. Littelfuse’s payout ratio is 35.99%.

Insider Activity

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

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.