Eli Lilly and Company (NYSE:LLY) Shares Purchased by Mechanics Financial Corp

Mechanics Financial Corp raised its position in Eli Lilly and Company (NYSE:LLY) by 49.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,554 shares of the company’s stock after purchasing an additional 848 shares during the period. Eli Lilly and Company comprises approximately 1.0% of Mechanics Financial Corp’s portfolio, making the stock its 21st biggest holding. Mechanics Financial Corp’s holdings in Eli Lilly and Company were worth $2,263,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in LLY. Twelve Points Wealth Management LLC grew its stake in Eli Lilly and Company by 1.4% in the 2nd quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock valued at $734,000 after acquiring an additional 11 shares during the last quarter. Verum Partners LLC lifted its holdings in shares of Eli Lilly and Company by 1.5% in the second quarter. Verum Partners LLC now owns 731 shares of the company’s stock valued at $662,000 after purchasing an additional 11 shares in the last quarter. Beaird Harris Wealth Management LLC grew its position in shares of Eli Lilly and Company by 2.2% in the second quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company’s stock valued at $464,000 after purchasing an additional 11 shares during the last quarter. Summit Financial Strategies Inc. grew its position in shares of Eli Lilly and Company by 0.5% in the third quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock valued at $1,865,000 after purchasing an additional 11 shares during the last quarter. Finally, Prio Wealth Limited Partnership increased its stake in shares of Eli Lilly and Company by 0.5% during the 3rd quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock worth $2,136,000 after purchasing an additional 11 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

LLY opened at $746.20 on Friday. Eli Lilly and Company has a 52-week low of $561.65 and a 52-week high of $972.53. The company has a 50 day moving average of $882.65 and a two-hundred day moving average of $870.38. The company has a market cap of $708.38 billion, a P/E ratio of 80.67, a P/E/G ratio of 2.82 and a beta of 0.43. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. During the same period last year, the company posted $0.10 earnings per share. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, analysts expect that Eli Lilly and Company will post 13.21 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be issued a dividend of $1.30 per share. The ex-dividend date is Friday, November 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.70%. Eli Lilly and Company’s payout ratio is currently 56.22%.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the sale, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at $4,402,522.40. The trade was a 14.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LLY. Barclays reduced their target price on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Bank of America reduced their price objective on Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Wolfe Research began coverage on Eli Lilly and Company in a research report on Friday. They set an “outperform” rating and a $1,000.00 price objective for the company. Sanford C. Bernstein began coverage on shares of Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price for the company. Finally, Wells Fargo & Company raised their price target on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,007.94.

Eli Lilly and Company Company Profile

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company 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; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.