Bank of New York Mellon Corp Has $89.52 Million Stake in Lennox International Inc. (LII)

Bank of New York Mellon Corp reduced its position in Lennox International Inc. (NYSE:LII) by 10.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 447,264 shares of the construction company’s stock after selling 54,926 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.11% of Lennox International worth $89,519,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Advisors Preferred LLC boosted its stake in shares of Lennox International by 354.7% in the 2nd quarter. Advisors Preferred LLC now owns 632 shares of the construction company’s stock valued at $126,000 after purchasing an additional 493 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its stake in shares of Lennox International by 583.3% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,592 shares of the construction company’s stock valued at $319,000 after purchasing an additional 1,359 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of Lennox International by 43.6% in the 2nd quarter. Toronto Dominion Bank now owns 3,695 shares of the construction company’s stock valued at $740,000 after purchasing an additional 1,122 shares during the last quarter. Argent Capital Management LLC boosted its stake in shares of Lennox International by 21.5% in the 2nd quarter. Argent Capital Management LLC now owns 4,261 shares of the construction company’s stock valued at $853,000 after purchasing an additional 755 shares during the last quarter. Finally, Alps Advisors Inc. boosted its stake in shares of Lennox International by 26.3% in the 2nd quarter. Alps Advisors Inc. now owns 4,991 shares of the construction company’s stock valued at $1,039,000 after purchasing an additional 1,038 shares during the last quarter. 67.81% of the stock is currently owned by institutional investors.

Lennox International stock opened at $211.75 on Friday. Lennox International Inc. has a 12-month low of $177.36 and a 12-month high of $229.98. The firm has a market cap of $8.57 billion, a P/E ratio of 26.74, a P/E/G ratio of 1.24 and a beta of 1.10.

Lennox International (NYSE:LII) last released its earnings results on Monday, October 22nd. The construction company reported $2.72 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.92 by ($0.20). Lennox International had a net margin of 8.31% and a negative return on equity of 474.74%. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the previous year, the firm earned $2.53 EPS. The firm’s revenue was down 2.1% on a year-over-year basis. Research analysts expect that Lennox International Inc. will post 8.98 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were given a dividend of $0.64 per share. The ex-dividend date was Thursday, September 27th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 1.21%. Lennox International’s payout ratio is presently 32.32%.

In related news, EVP Gary S. Bedard sold 340 shares of the business’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $225.00, for a total transaction of $76,500.00. Following the transaction, the executive vice president now owns 19,118 shares in the company, valued at approximately $4,301,550. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Todd M. Bluedorn sold 8,156 shares of the business’s stock in a transaction on Tuesday, October 30th. The shares were sold at an average price of $207.17, for a total transaction of $1,689,678.52. The disclosure for this sale can be found here. Insiders have sold a total of 24,113 shares of company stock worth $5,015,541 in the last quarter. 3.90% of the stock is owned by corporate insiders.

A number of equities research analysts have recently commented on the stock. ValuEngine raised shares of Lennox International from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. Morgan Stanley reaffirmed an “underweight” rating on shares of Lennox International in a research note on Wednesday, October 24th. Barclays reduced their price objective on shares of Lennox International from $239.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 23rd. Credit Suisse Group reduced their price objective on shares of Lennox International from $229.00 to $224.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 23rd. Finally, Robert W. Baird reduced their price objective on shares of Lennox International from $228.00 to $224.00 and set a “buy” rating on the stock in a research note on Tuesday, October 23rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. Lennox International presently has a consensus rating of “Hold” and a consensus price target of $220.75.

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About Lennox International

Lennox International Inc, together with its subsidiaries, provides climate control solutions in the United States, Canada, 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.

Further Reading: Rule of 72

Institutional Ownership by Quarter for Lennox International (NYSE:LII)

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