PNC Financial Services Group Inc. Decreases Stock Holdings in Air Products and Chemicals, Inc. $APD

Key Points

• PNC Financial Services Group trimmed its stake in Air Products and Chemicals by 3.0% in the first quarter, selling 10,616 shares and ending with 345,032 shares valued at about $100.2 million.
• Air Products reported better-than-expected quarterly results, with EPS of $3.20 versus the $3.06 consensus and revenue of $3.17 billion, up 8.8% year over year.
• The company also declared a quarterly dividend of $1.81 per share, implying a 2.4% yield, while analysts currently rate the stock Moderate Buy with an average price target of $326.88.

PNC Financial Services Group Inc. lowered its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 3.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 345,032 shares of the basic materials company's stock after selling 10,616 shares during the quarter. PNC Financial Services Group Inc. owned about 0.15% of Air Products and Chemicals worth $100,228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its position in shares of Air Products and Chemicals by 14.5% during the fourth quarter. Brighton Jones LLC now owns 3,260 shares of the basic materials company's stock valued at $945,000 after buying an additional 412 shares during the last quarter. Bison Wealth LLC purchased a new position in shares of Air Products and Chemicals in the 4th quarter worth approximately $245,000. Sei Investments Co. raised its stake in shares of Air Products and Chemicals by 197.6% during the 2nd quarter. Sei Investments Co. now owns 281,861 shares of the basic materials company's stock worth $79,498,000 after acquiring an additional 187,142 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in shares of Air Products and Chemicals by 2.1% during the 2nd quarter. Treasurer of the State of North Carolina now owns 103,777 shares of the basic materials company's stock worth $29,271,000 after acquiring an additional 2,171 shares in the last quarter. Finally, Diversify Advisory Services LLC lifted its position in Air Products and Chemicals by 52.5% during the second quarter. Diversify Advisory Services LLC now owns 6,474 shares of the basic materials company's stock valued at $1,873,000 after acquiring an additional 2,229 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company's stock.

Insider Activity

In related news, CFO Melissa N. Schaeffer sold 2,714 shares of the firm's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $303.76, for a total value of $824,404.64. Following the completion of the transaction, the chief financial officer owned 14,212 shares in the company, valued at $4,317,037.12. This trade represents a 16.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.88% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on APD shares. Mizuho set a $345.00 target price on shares of Air Products and Chemicals in a research note on Friday, May 1st. UBS Group upped their price target on Air Products and Chemicals from $307.00 to $316.00 and gave the stock a "neutral" rating in a research report on Friday, May 1st. Royal Bank Of Canada reiterated an "outperform" rating and set a $358.00 price objective on shares of Air Products and Chemicals in a report on Friday, July 17th. Morgan Stanley raised their price objective on Air Products and Chemicals from $290.00 to $310.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 5th. Finally, Berenberg Bank set a $350.00 target price on Air Products and Chemicals and gave the stock a "buy" rating in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Air Products and Chemicals presently has an average rating of "Moderate Buy" and an average price target of $326.88.

Air Products and Chemicals Stock Performance

Shares of Air Products and Chemicals stock opened at $297.14 on Thursday. The company has a 50 day moving average price of $289.31 and a 200 day moving average price of $285.05. The firm has a market capitalization of $66.17 billion, a P/E ratio of 31.44, a PEG ratio of 2.69 and a beta of 0.73. The company has a quick ratio of 1.21, a current ratio of 1.43 and a debt-to-equity ratio of 0.95. Air Products and Chemicals, Inc. has a 52 week low of $229.11 and a 52 week high of $314.87.

Air Products and Chemicals (NYSE:APD - Get Free Report) last released its earnings results on Thursday, April 30th. The basic materials company reported $3.20 earnings per share for the quarter, topping the consensus estimate of $3.06 by $0.14. Air Products and Chemicals had a net margin of 16.91% and a return on equity of 16.11%. The company had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.07 billion. During the same quarter in the previous year, the firm earned $2.69 EPS. Air Products and Chemicals's revenue was up 8.8% compared to the same quarter last year. Air Products and Chemicals has set its FY 2026 guidance at 13.000-13.250 EPS and its Q3 2026 guidance at 3.250-3.350 EPS. Sell-side analysts expect that Air Products and Chemicals, Inc. will post 13.22 EPS for the current year.

Air Products and Chemicals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Thursday, October 1st will be given a $1.81 dividend. This represents a $7.24 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Thursday, October 1st. Air Products and Chemicals's dividend payout ratio is presently 76.61%.

Air Products and Chemicals Company Profile

Air Products and Chemicals, Inc is a global supplier of industrial gases and related equipment and services, headquartered in Allentown, Pennsylvania. The company produces and delivers atmospheric gases such as oxygen, nitrogen and argon, as well as specialty and process gases used across a wide range of industrial applications. Air Products designs, builds and operates gas production facilities, merchant distribution networks and on-site gas systems for customers that require reliable, high-purity gases and integrated supply solutions.

The company's product and service portfolio includes packaged and bulk gas supply, pipeline distribution, on-site generation, gas handling and storage equipment, and engineered systems for gas liquefaction and purification.

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