PNC Financial Services Group Inc. Decreases Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

PNC Financial Services Group Inc. lowered its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 28.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 545,066 shares of the basic materials company's stock after selling 212,290 shares during the period. PNC Financial Services Group Inc. owned 0.25% of Air Products and Chemicals worth $162,288,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in APD. Iron Horse Wealth Management LLC lifted its holdings in Air Products and Chemicals by 88.7% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company's stock valued at $35,000 after purchasing an additional 55 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Air Products and Chemicals in the 2nd quarter valued at $32,000. Trifecta Capital Advisors LLC increased its position in Air Products and Chemicals by 1,700.0% during the second quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company's stock worth $37,000 after acquiring an additional 136 shares during the period. Reston Wealth Management LLC acquired a new stake in Air Products and Chemicals in the 3rd quarter worth about $47,000. Finally, Beacon Capital Management LLC boosted its holdings in Air Products and Chemicals by 128.8% in the 1st quarter. Beacon Capital Management LLC now owns 183 shares of the basic materials company's stock valued at $44,000 after purchasing an additional 103 shares during the period. 81.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Redburn Atlantic raised Air Products and Chemicals from a "sell" rating to a "neutral" rating and set a $330.00 price target on the stock in a research report on Friday, October 25th. Jefferies Financial Group raised Air Products and Chemicals from a "hold" rating to a "buy" rating and boosted their price target for the company from $295.00 to $364.00 in a research note on Monday, October 7th. Barclays raised their target price on Air Products and Chemicals from $295.00 to $315.00 and gave the company an "equal weight" rating in a report on Friday, November 8th. Wells Fargo & Company increased their price objective on shares of Air Products and Chemicals from $280.00 to $330.00 and gave the company an "equal weight" rating in a research note on Friday, October 11th. Finally, UBS Group raised Air Products and Chemicals from a "neutral" rating to a "buy" rating and set a $375.00 price objective for the company in a research note on Monday. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Air Products and Chemicals currently has a consensus rating of "Moderate Buy" and a consensus price target of $331.53.

Air Products and Chemicals Stock Down 0.0 %

Shares of NYSE:APD traded down $0.15 during mid-day trading on Wednesday, hitting $327.85. 1,634,688 shares of the company traded hands, compared to its average volume of 1,612,912. The stock has a 50-day moving average price of $308.70 and a two-hundred day moving average price of $281.76. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $332.42. The stock has a market cap of $72.88 billion, a P/E ratio of 19.08, a P/E/G ratio of 3.18 and a beta of 0.81. The company has a current ratio of 1.52, a quick ratio of 1.34 and a debt-to-equity ratio of 0.72.

About Air Products and Chemicals

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals.