PNC Financial Services Group Inc. Lowers Position in Air Products and Chemicals, Inc. (NYSE:APD)

PNC Financial Services Group Inc. decreased its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 28.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 545,066 shares of the basic materials company’s stock after selling 212,290 shares during the period. PNC Financial Services Group Inc. owned 0.25% of Air Products and Chemicals worth $162,288,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Iron Horse Wealth Management LLC grew its position in Air Products and Chemicals by 88.7% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 55 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of Air Products and Chemicals during the 2nd quarter valued at $32,000. Trifecta Capital Advisors LLC lifted its stake in shares of Air Products and Chemicals by 1,700.0% during the 2nd quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock valued at $37,000 after buying an additional 136 shares in the last quarter. Reston Wealth Management LLC purchased a new position in shares of Air Products and Chemicals during the 3rd quarter valued at $47,000. Finally, Beacon Capital Management LLC lifted its stake in shares of Air Products and Chemicals by 128.8% during the 1st quarter. Beacon Capital Management LLC now owns 183 shares of the basic materials company’s stock valued at $44,000 after buying an additional 103 shares in the last quarter. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Performance

Air Products and Chemicals stock opened at $327.73 on Wednesday. The company’s 50-day moving average price is $307.69 and its 200-day moving average price is $281.43. Air Products and Chemicals, Inc. has a twelve month low of $212.24 and a twelve month high of $332.42. The company has a quick ratio of 1.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.72. The company has a market cap of $72.86 billion, a PE ratio of 19.08, a price-to-earnings-growth ratio of 3.18 and a beta of 0.81.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on APD shares. The Goldman Sachs Group lifted their target price on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Evercore ISI upgraded shares of Air Products and Chemicals from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $305.00 to $365.00 in a research note on Monday, October 7th. StockNews.com upgraded shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a research note on Monday, September 23rd. Jefferies Financial Group upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and lifted their target price for the company from $295.00 to $364.00 in a research note on Monday, October 7th. Finally, Barclays lifted their target price on shares of Air Products and Chemicals from $295.00 to $315.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $331.53.

Air Products and Chemicals Company Profile

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals.