Harvey Partners LLC Buys 37,500 Shares of Littelfuse, Inc. (NASDAQ:LFUS)

Harvey Partners LLC boosted its holdings in shares of Littelfuse, Inc. (NASDAQ:LFUS - Free Report) by 39.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 132,500 shares of the technology company's stock after acquiring an additional 37,500 shares during the quarter. Littelfuse accounts for about 4.0% of Harvey Partners LLC's investment portfolio, making the stock its 7th largest holding. Harvey Partners LLC owned 0.53% of Littelfuse worth $35,146,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Van Lanschot Kempen Investment Management N.V. bought a new position in shares of Littelfuse in the 2nd quarter valued at approximately $100,662,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Littelfuse in the 2nd quarter valued at approximately $46,037,000. Victory Capital Management Inc. raised its stake in shares of Littelfuse by 13.2% in the 2nd quarter. Victory Capital Management Inc. now owns 501,504 shares of the technology company's stock valued at $128,179,000 after acquiring an additional 58,529 shares in the last quarter. Verition Fund Management LLC bought a new position in Littelfuse in the 3rd quarter worth approximately $14,480,000. Finally, Jennison Associates LLC increased its position in Littelfuse by 38.4% in the 3rd quarter. Jennison Associates LLC now owns 181,141 shares of the technology company's stock worth $48,048,000 after buying an additional 50,304 shares during the period. 96.14% of the stock is currently owned by institutional investors and hedge funds.

Littelfuse Stock Down 0.7 %

Shares of LFUS stock traded down $1.76 on Tuesday, hitting $246.06. 68,325 shares of the stock were exchanged, compared to its average volume of 127,311. The company has a current ratio of 3.55, a quick ratio of 2.52 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $6.11 billion, a P/E ratio of 31.63, a price-to-earnings-growth ratio of 2.44 and a beta of 1.26. The business has a 50-day moving average of $253.38 and a 200 day moving average of $255.99. Littelfuse, Inc. has a fifty-two week low of $222.91 and a fifty-two week high of $275.58.

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

Littelfuse Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st will be given a $0.70 dividend. The ex-dividend date is Thursday, November 21st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.14%. Littelfuse's payout ratio is 35.99%.

Insider Activity

In other news, SVP Matthew Cole sold 1,436 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $246.02, for a total transaction of $353,284.72. Following the transaction, the senior vice president now owns 5,522 shares in the company, valued at approximately $1,358,522.44. This trade represents a 20.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.30% of the company's stock.

Analyst Ratings Changes

LFUS has been the topic of several recent analyst reports. Stifel Nicolaus raised 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 report on Tuesday, August 13th. Oppenheimer raised Littelfuse from a "market perform" rating to an "outperform" rating and set a $310.00 price target on the stock in a research note on Thursday, October 17th. Robert W. Baird boosted their price objective on Littelfuse from $300.00 to $315.00 and gave the stock an "outperform" rating in a research note on Thursday, August 29th. StockNews.com raised Littelfuse from a "hold" rating to a "buy" rating in a research note on Friday, October 18th. Finally, Benchmark reissued 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 assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $285.00.

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.