Lennox International, Inc. (NYSE:LII) Shares Sold by Bank of New York Mellon Corp

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

Other hedge funds have also recently modified their holdings of the company. City Holding Co. purchased a new position in Lennox International during the first quarter worth about $35,000. Sentry Investment Management LLC purchased a new position in Lennox International during the first quarter worth about $43,000. Bessemer Group Inc. boosted its stake in Lennox International by 50.8% during the fourth quarter. Bessemer Group Inc. now owns 98 shares of the construction company's stock worth $60,000 after buying an additional 33 shares during the period. Inlight Wealth Management LLC purchased a new position in Lennox International during the first quarter worth about $114,000. Finally, Brown Brothers Harriman & Co. boosted its stake in Lennox International by 1,650.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 210 shares of the construction company's stock worth $128,000 after buying an additional 198 shares during the period. Hedge funds and other institutional investors own 67.07% of the company's stock.

Lennox International Stock Up 0.1%

NYSE:LII traded up $0.39 during mid-day trading on Friday, hitting $617.77. The stock had a trading volume of 250,138 shares, compared to its average volume of 365,451. The stock has a 50-day simple moving average of $573.82 and a two-hundred day simple moving average of $584.41. The company has a market capitalization of $21.92 billion, a PE ratio of 27.53, a PEG ratio of 2.14 and a beta of 1.13. Lennox International, Inc. has a twelve month low of $500.10 and a twelve month high of $682.50. The company has a current ratio of 1.43, a quick ratio of 0.74 and a debt-to-equity ratio of 0.98.

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

Lennox International announced that its board has authorized a share repurchase program on Thursday, May 22nd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the construction company to buy 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.

Lennox International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, May 30th will be issued a $1.30 dividend. This is a boost from Lennox International's previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Monday, June 30th. This represents a $5.20 annualized dividend and a yield of 0.84%. Lennox International's dividend payout ratio (DPR) is 23.17%.

Insiders Place Their Bets

In other Lennox International news, CAO Chris Kosel sold 509 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $568.05, for a total transaction of $289,137.45. Following the sale, the chief accounting officer owned 1,582 shares of the company's stock, valued at approximately $898,655.10. This trade represents a 24.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.73% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Lennox International from $455.00 to $549.00 and gave the stock an "underweight" rating in a research note on Friday, May 16th. Wells Fargo & Company increased their target price on shares of Lennox International from $500.00 to $550.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 1st. The Goldman Sachs Group raised their price objective on shares of Lennox International from $619.00 to $691.00 and gave the company a "buy" rating in a research note on Tuesday. Royal Bank Of Canada raised their price objective on shares of Lennox International from $580.00 to $582.00 and gave the company a "sector perform" rating in a research note on Thursday, April 24th. Finally, Robert W. Baird lowered their price objective on shares of Lennox International from $608.00 to $600.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $595.23.

Lennox International Company Profile

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.