Morgan Stanley Reaffirms Underweight Rating for Lennox International, Inc. (NYSE:LII)
Morgan Stanley restated their underweight rating on shares of Lennox International, Inc. (NYSE:LII) in a research report sent to investors on Tuesday morning. They currently have a $161.00 price objective on the construction company’s stock, down from their prior price objective of $164.00.
A number of other research firms have also recently weighed in on LII. Wells Fargo & Company restated a market perform rating and issued a $190.00 price target (up from $162.50) on shares of Lennox International in a report on Friday, July 7th. Cowen and Company reaffirmed a buy rating on shares of Lennox International in a research report on Monday, July 24th. Wolfe Research initiated coverage on shares of Lennox International in a research report on Tuesday, July 11th. They issued a market perform rating for the company. BidaskClub raised shares of Lennox International from a hold rating to a buy rating in a research report on Thursday, June 15th. Finally, TheStreet lowered shares of Lennox International from a b rating to a c+ rating in a research report on Friday, April 28th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $176.71.
Shares of Lennox International (LII) traded down 0.62% on Tuesday, reaching $171.02. 370,663 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $183.38 and a 200-day moving average price of $170.36. Lennox International has a 12-month low of $140.97 and a 12-month high of $192.58. The company has a market cap of $7.21 billion, a PE ratio of 24.64 and a beta of 1.16.
Lennox International (NYSE:LII) last released its quarterly earnings results on Monday, July 24th. The construction company reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.07. Lennox International had a net margin of 7.92% and a return on equity of 1,821.73%. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the business earned $2.53 EPS. The company’s revenue was up 8.1% compared to the same quarter last year. Equities research analysts anticipate that Lennox International will post $8.01 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were given a $0.51 dividend. This is a positive change from Lennox International’s previous quarterly dividend of $0.43. This represents a $2.04 annualized dividend and a dividend yield of 1.19%. The ex-dividend date was Wednesday, June 28th. Lennox International’s dividend payout ratio (DPR) is presently 29.35%.
In related news, Director John W. Norris III sold 1,000 shares of the stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $167.66, for a total value of $167,660.00. Following the completion of the transaction, the director now directly owns 50,001 shares of the company’s stock, valued at approximately $8,383,167.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.90% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. YorkBridge Wealth Partners LLC raised its position in Lennox International by 19.5% in the first quarter. YorkBridge Wealth Partners LLC now owns 620 shares of the construction company’s stock worth $103,000 after buying an additional 101 shares in the last quarter. Huntington National Bank raised its position in Lennox International by 16.7% in the second quarter. Huntington National Bank now owns 566 shares of the construction company’s stock worth $104,000 after buying an additional 81 shares in the last quarter. Genesee Valley Trust Co. raised its position in Lennox International by 1.1% in the first quarter. Genesee Valley Trust Co. now owns 2,250 shares of the construction company’s stock worth $376,000 after buying an additional 24 shares in the last quarter. Copper Rock Capital Partners LLC raised its position in Lennox International by 308.7% in the second quarter. Copper Rock Capital Partners LLC now owns 2,632 shares of the construction company’s stock worth $403,000 after buying an additional 1,988 shares in the last quarter. Finally, Argent Capital Management LLC raised its position in Lennox International by 2.4% in the first quarter. Argent Capital Management LLC now owns 2,607 shares of the construction company’s stock worth $436,000 after buying an additional 60 shares in the last quarter. 68.63% of the stock is owned by institutional investors.
Lennox International Company Profile
Lennox International Inc is a provider of climate control solutions. The Company designs, manufactures and markets a range of products for the heating, ventilation, air conditioning and refrigeration (HVACR) markets. It operates through three segments: Residential Heating & Cooling; Commercial Heating & Cooling, and Refrigeration.
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