Renaissance Investment Group LLC Grows Position in Eli Lilly and Company (NYSE:LLY)

Renaissance Investment Group LLC increased its position in shares of Eli Lilly and Company (NYSE:LLY) by 3.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,240 shares of the company’s stock after buying an additional 40 shares during the period. Renaissance Investment Group LLC’s holdings in Eli Lilly and Company were worth $582,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in LLY. Fairfield Bush & CO. acquired a new position in Eli Lilly and Company in the first quarter valued at approximately $107,000. Roundview Capital LLC boosted its holdings in Eli Lilly and Company by 2.6% in the first quarter. Roundview Capital LLC now owns 2,056 shares of the company’s stock valued at $589,000 after purchasing an additional 53 shares in the last quarter. Merit Financial Group LLC acquired a new position in Eli Lilly and Company in the first quarter valued at approximately $210,000. NewEdge Advisors LLC boosted its holdings in Eli Lilly and Company by 9.9% in the first quarter. NewEdge Advisors LLC now owns 53,052 shares of the company’s stock valued at $15,193,000 after purchasing an additional 4,774 shares in the last quarter. Finally, Barometer Capital Management Inc. acquired a new position in Eli Lilly and Company in the first quarter valued at approximately $561,000. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LLY. 22nd Century Group reaffirmed a “maintains” rating on shares of Eli Lilly and Company in a report on Tuesday, June 27th. Royal Bank of Canada increased their price objective on Eli Lilly and Company from $490.00 to $580.00 and gave the company an “outperform” rating in a report on Tuesday, August 8th. Cantor Fitzgerald restated an “overweight” rating and set a $630.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, September 5th. Argus upped their price target on Eli Lilly and Company from $470.00 to $620.00 and gave the stock a “buy” rating in a research note on Tuesday, September 5th. Finally, Barclays upped their price target on Eli Lilly and Company from $500.00 to $590.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $532.78.

Insiders Place Their Bets

In other Eli Lilly and Company news, EVP Alonzo Weems sold 1,148 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $590.98, for a total value of $678,445.04. Following the sale, the executive vice president now directly owns 7,760 shares of the company’s stock, valued at approximately $4,586,004.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Eli Lilly and Company news, EVP Alonzo Weems sold 1,148 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $590.98, for a total value of $678,445.04. Following the sale, the executive vice president now directly owns 7,760 shares of the company’s stock, valued at approximately $4,586,004.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Lilly Endowment Inc sold 210,000 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $571.41, for a total value of $119,996,100.00. Following the completion of the sale, the insider now directly owns 99,983,810 shares in the company, valued at $57,131,748,872.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,010,309 shares of company stock valued at $21,095,701,670. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Down 1.2 %

LLY opened at $591.77 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.13 and a debt-to-equity ratio of 1.63. The firm has a market cap of $561.76 billion, a P/E ratio of 82.30, a PEG ratio of 2.47 and a beta of 0.32. Eli Lilly and Company has a 52 week low of $296.32 and a 52 week high of $601.84. The business’s fifty day simple moving average is $507.52 and its 200 day simple moving average is $434.64.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $2.11 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.13. The business had revenue of $8.31 billion for the quarter, compared to analyst estimates of $7.58 billion. Eli Lilly and Company had a return on equity of 65.00% and a net margin of 22.01%. The business’s revenue for the quarter was up 28.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.25 earnings per share. As a group, equities research analysts anticipate that Eli Lilly and Company will post 9.84 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Tuesday, August 15th were paid a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Monday, August 14th. Eli Lilly and Company’s payout ratio is 62.87%.

About Eli Lilly and Company

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. It offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; and Jardiance, Trajenta, and Trulicity for type 2 diabetes.