Bank of New York Mellon Corp Sells 1,810 Shares of Lennox International, Inc. (NYSE:LII)

Bank of New York Mellon Corp decreased its stake in shares of Lennox International, Inc. (NYSE:LII - Free Report) by 0.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 225,331 shares of the construction company's stock after selling 1,810 shares during the period. Bank of New York Mellon Corp owned 0.64% of Lennox International worth $126,372,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Bessemer Group Inc. raised its holdings in shares of Lennox International by 50.8% in the 4th quarter. Bessemer Group Inc. now owns 98 shares of the construction company's stock worth $60,000 after purchasing an additional 33 shares in the last quarter. Farther Finance Advisors LLC grew its position in Lennox International by 8.9% during the first quarter. Farther Finance Advisors LLC now owns 576 shares of the construction company's stock valued at $325,000 after purchasing an additional 47 shares in the last quarter. CIBC Private Wealth Group LLC grew its position in Lennox International by 7.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 853 shares of the construction company's stock valued at $534,000 after purchasing an additional 61 shares in the last quarter. City Holding Co. bought a new stake in Lennox International in the first quarter worth approximately $35,000. Finally, MassMutual Private Wealth & Trust FSB grew its position in Lennox International by 23.5% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 421 shares of the construction company's stock worth $236,000 after acquiring an additional 80 shares in the last quarter. Institutional investors and hedge funds own 67.07% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on LII shares. UBS Group reduced their price objective on shares of Lennox International from $625.00 to $570.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. JPMorgan Chase & Co. increased their price objective on shares of Lennox International from $455.00 to $549.00 and gave the company an "underweight" rating in a research note on Friday, May 16th. The Goldman Sachs Group upped their target price on shares of Lennox International from $619.00 to $691.00 and gave the stock a "buy" rating in a report on Tuesday. Royal Bank Of Canada upped their target price on shares of Lennox International from $580.00 to $582.00 and gave the stock a "sector perform" rating in a report on Thursday, April 24th. Finally, Wells Fargo & Company increased their price objective on shares of Lennox International from $500.00 to $550.00 and gave the stock an "underweight" rating in a report on Tuesday, July 1st. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Lennox International presently has an average rating of "Hold" and an average price target of $595.23.

Lennox International Trading Up 0.1%

Shares of NYSE:LII traded up $0.39 during mid-day trading on Friday, reaching $617.77. The stock had a trading volume of 250,129 shares, compared to its average volume of 364,941. The company has a current ratio of 1.43, a quick ratio of 0.74 and a debt-to-equity ratio of 0.98. The firm has a market cap of $21.92 billion, a PE ratio of 27.53, a price-to-earnings-growth ratio of 2.09 and a beta of 1.13. The firm has a 50 day simple moving average of $572.69 and a two-hundred day simple moving average of $584.82. Lennox International, Inc. has a twelve month low of $500.10 and a twelve month high of $682.50.

Lennox International (NYSE:LII - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The construction company reported $3.37 earnings per share for the quarter, topping the consensus estimate of $3.25 by $0.12. Lennox International had a net margin of 14.96% and a return on equity of 106.05%. The company had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1 billion. During the same period last year, the business earned $3.47 EPS. The business's quarterly revenue was up 2.4% on a year-over-year basis. On average, research analysts predict that Lennox International, Inc. will post 22.94 EPS for the current fiscal year.

Lennox International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, May 30th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.84%. This is a boost from Lennox International's previous quarterly dividend of $1.15. The ex-dividend date is Monday, June 30th. Lennox International's payout ratio is 23.17%.

Lennox International declared that its Board of Directors has approved a stock buyback program on Thursday, May 22nd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the construction company to reacquire up to 5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

Insider Activity

In related news, CAO Chris Kosel sold 509 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $568.05, for a total value of $289,137.45. Following the completion of the transaction, the chief accounting officer owned 1,582 shares of the company's stock, valued at $898,655.10. The trade was a 24.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 9.73% of the company's stock.

About Lennox International

Lennox International Inc, together with its subsidiaries, designs, manufactures, and markets a range of products for the heating, ventilation, air conditioning, and refrigeration markets in the United States, Canada, and internationally. The Home Comfort Solutions segment provides furnaces, air conditioners, heat pumps, packaged heating and cooling systems, indoor air quality equipment, comfort control products, and replacement parts and supplies; residential heating, ventilation, cooling equipment, and air conditioning; and evaporator coils and unit heaters under Lennox, Dave Lennox Signature Collection, Armstrong Air, Ducane, AirEase, Concord, MagicPak, Advanced Distributor Products, Allied, Elite Series, Merit Series, Comfort Sync, Healthy Climate, iComfort, ComfortSense, and Lennox Stores name.