JPMorgan Chase & Co. trimmed its stake in shares of Polaris Industries Inc. (NYSE:PII) by 18.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,534 shares of the company’s stock after selling 25,562 shares during the quarter. JPMorgan Chase & Co. owned about 0.18% of Polaris Industries worth $11,745,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in PII. Janus Henderson Group PLC boosted its position in shares of Polaris Industries by 27,968.2% in the second quarter. Janus Henderson Group PLC now owns 2,411,062 shares of the company’s stock valued at $222,372,000 after acquiring an additional 2,402,472 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Polaris Industries by 12.2% in the second quarter. The Manufacturers Life Insurance Company now owns 5,256,665 shares of the company’s stock valued at $484,822,000 after acquiring an additional 572,461 shares during the period. Vanguard Group Inc. boosted its position in shares of Polaris Industries by 6.1% in the second quarter. Vanguard Group Inc. now owns 5,627,636 shares of the company’s stock valued at $519,037,000 after acquiring an additional 323,616 shares during the period. State Street Corp boosted its position in shares of Polaris Industries by 3.8% in the second quarter. State Street Corp now owns 4,377,894 shares of the company’s stock valued at $403,763,000 after acquiring an additional 161,055 shares during the period. Finally, Columbus Circle Investors bought a new stake in shares of Polaris Industries in the third quarter valued at about $13,969,000. 90.90% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts recently commented on PII shares. SunTrust Banks reaffirmed a “hold” rating and issued a $115.00 price target on shares of Polaris Industries in a research note on Wednesday, October 25th. They noted that the move was a valuation call. Stifel Nicolaus reaffirmed a “hold” rating and issued a $98.00 price target (up previously from $87.00) on shares of Polaris Industries in a research note on Monday, September 18th. Robert W. Baird boosted their price target on Polaris Industries from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, October 25th. B. Riley boosted their target price on Polaris Industries from $91.00 to $118.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 25th. Finally, Royal Bank of Canada boosted their target price on Polaris Industries from $81.00 to $91.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 25th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $102.20.
In related news, SVP Stacy L. Bogart sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $122.05, for a total value of $2,441,000.00. Following the sale, the senior vice president now directly owns 30,975 shares in the company, valued at $3,780,498.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephen L. Eastman sold 8,500 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $119.25, for a total value of $1,013,625.00. Following the completion of the sale, the insider now owns 18,846 shares in the company, valued at $2,247,385.50. The disclosure for this sale can be found here. Insiders sold 58,102 shares of company stock worth $7,174,301 over the last quarter. 2.20% of the stock is currently owned by company insiders.
Polaris Industries Inc. (NYSE:PII) traded up $0.47 during trading on Friday, hitting $130.03. The stock had a trading volume of 352,750 shares, compared to its average volume of 687,431. Polaris Industries Inc. has a one year low of $77.91 and a one year high of $134.66. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.04 and a quick ratio of 0.34. The firm has a market capitalization of $8,130.00, a P/E ratio of 40.89, a P/E/G ratio of 1.53 and a beta of 1.40.
Polaris Industries (NYSE:PII) last released its quarterly earnings data on Tuesday, October 24th. The company reported $1.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.24. Polaris Industries had a return on equity of 33.81% and a net margin of 3.90%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the firm posted $0.50 earnings per share. The firm’s revenue was up 24.8% compared to the same quarter last year. equities research analysts predict that Polaris Industries Inc. will post 4.85 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 1.78%. The ex-dividend date was Thursday, November 30th. Polaris Industries’s payout ratio is presently 72.96%.
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About Polaris Industries
Polaris Industries Inc designs, engineers and manufactures powersports vehicles, which include Off-Road Vehicles (ORV), including All-Terrain Vehicles (ATV) and side-by-side vehicles for recreational and utility use; Snowmobiles, Motorcycles and Global Adjacent Markets vehicles, including Work and Transportation and military vehicles.
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