Robert W. Baird Lowers Lennox International (LII) to Neutral
Robert W. Baird downgraded shares of Lennox International (NYSE:LII) from an outperform rating to a neutral rating in a report released on Tuesday, Benzinga reports. The brokerage currently has $272.00 target price on the construction company’s stock, up from their prior target price of $246.00.
LII has been the subject of several other reports. Cowen downgraded Lennox International from an outperform rating to a market perform rating and set a $276.36 price objective for the company. in a research note on Tuesday, April 9th. Goldman Sachs Group began coverage on Lennox International in a report on Tuesday, March 5th. They issued a neutral rating and a $236.00 target price for the company. Wells Fargo & Co upped their target price on Lennox International from $230.00 to $242.00 and gave the company a market perform rating in a report on Wednesday, February 6th. Credit Suisse Group cut Lennox International from an outperform rating to a neutral rating and upped their target price for the company from $253.00 to $255.00 in a report on Wednesday, March 6th. Finally, Barclays upped their target price on Lennox International from $258.00 to $270.00 and gave the company an overweight rating in a report on Wednesday, April 3rd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. Lennox International presently has an average rating of Hold and an average target price of $245.70.
NYSE LII traded up $1.97 during mid-day trading on Tuesday, hitting $270.64. The stock had a trading volume of 299,509 shares, compared to its average volume of 293,889. Lennox International has a twelve month low of $177.36 and a twelve month high of $277.05. The company has a market cap of $10.93 billion, a P/E ratio of 28.73, a P/E/G ratio of 1.12 and a beta of 0.99.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were issued a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend was Friday, March 29th. Lennox International’s dividend payout ratio is presently 27.18%.
In other news, Chairman Todd M. Bluedorn sold 16,168 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $250.84, for a total transaction of $4,055,581.12. Following the completion of the transaction, the chairman now directly owns 149,080 shares in the company, valued at approximately $37,395,227.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Daniel M. Sessa sold 3,515 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $258.50, for a total value of $908,627.50. Following the transaction, the executive vice president now owns 44,912 shares of the company’s stock, valued at $11,609,752. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,468 shares of company stock valued at $12,069,435. Company insiders own 3.90% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lindbrook Capital LLC acquired a new position in Lennox International during the 4th quarter worth about $25,000. Huntington National Bank lifted its stake in Lennox International by 196.6% during the 1st quarter. Huntington National Bank now owns 439 shares of the construction company’s stock worth $116,000 after acquiring an additional 291 shares in the last quarter. Resources Management Corp CT ADV acquired a new position in Lennox International during the 3rd quarter worth about $127,000. Gofen & Glossberg LLC IL acquired a new position in Lennox International during the 1st quarter worth about $219,000. Finally, Cohen Lawrence B acquired a new position in Lennox International during the 1st quarter worth about $235,000. Institutional investors and hedge funds own 69.48% of the company’s stock.
Lennox International Company Profile
Lennox International Inc, through its subsidiaries, provides climate control solutions in North America, Europe, Russia, Turkey, the Middle East, and internationally. It designs, manufactures, and markets a range of products for the heating, ventilation, air conditioning, and refrigeration markets. The company operates in three segments: Residential Heating & Cooling, Commercial Heating & Cooling, and Refrigeration.
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