JPMorgan Chase & Co. Lowers Holdings in Polaris Industries Inc. (NYSE:PII)

JPMorgan Chase & Co. lessened its stake in Polaris Industries Inc. (NYSE:PII) by 73.9% in the 1st quarter, HoldingsChannel reports. The fund owned 69,846 shares of the company’s stock after selling 197,799 shares during the quarter. JPMorgan Chase & Co.’s holdings in Polaris Industries were worth $5,898,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc increased its position in Polaris Industries by 1.5% in the 3rd quarter. Vanguard Group Inc now owns 6,215,683 shares of the company’s stock valued at $627,474,000 after acquiring an additional 91,409 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of Polaris Industries by 9,905.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,329,998 shares of the company’s stock worth $30,000 after buying an additional 2,306,710 shares during the period. Confluence Investment Management LLC grew its position in shares of Polaris Industries by 1.4% during the 1st quarter. Confluence Investment Management LLC now owns 1,153,620 shares of the company’s stock worth $97,400,000 after buying an additional 15,935 shares during the period. Bank of New York Mellon Corp grew its position in shares of Polaris Industries by 17.5% during the 4th quarter. Bank of New York Mellon Corp now owns 916,348 shares of the company’s stock worth $70,266,000 after buying an additional 136,702 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Polaris Industries by 16.7% during the 4th quarter. Geode Capital Management LLC now owns 615,100 shares of the company’s stock worth $47,134,000 after buying an additional 87,843 shares during the period. Hedge funds and other institutional investors own 78.48% of the company’s stock.

Several equities research analysts have recently commented on PII shares. Royal Bank of Canada lifted their price target on shares of Polaris Industries to $102.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 24th. Wedbush upgraded shares of Polaris Industries from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $101.00 to $117.00 in a research report on Thursday, May 2nd. Citigroup lifted their price target on shares of Polaris Industries from $104.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. SunTrust Banks lifted their price target on shares of Polaris Industries to $102.00 and gave the stock a “hold” rating in a research report on Wednesday, April 24th. Finally, ValuEngine upgraded shares of Polaris Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. Ten equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Polaris Industries currently has an average rating of “Hold” and an average target price of $109.08.

Shares of NYSE PII opened at $90.27 on Friday. The company has a market cap of $5.45 billion, a P/E ratio of 13.63, a PEG ratio of 0.96 and a beta of 1.26. The company has a quick ratio of 0.39, a current ratio of 1.31 and a debt-to-equity ratio of 2.40. Polaris Industries Inc. has a 52-week low of $70.27 and a 52-week high of $131.25.

Polaris Industries (NYSE:PII) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.16. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Polaris Industries had a net margin of 5.22% and a return on equity of 46.89%. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.08 earnings per share. As a group, equities research analysts predict that Polaris Industries Inc. will post 6.17 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Friday, May 31st. Polaris Industries’s dividend payout ratio is currently 37.20%.

In related news, insider Stephen L. Eastman sold 8,028 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $97.97, for a total transaction of $786,503.16. Following the completion of the transaction, the insider now owns 17,706 shares in the company, valued at $1,734,656.82. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.90% of the stock is currently owned by insiders.

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Polaris Industries Profile

Polaris Industries Inc designs, engineers, manufactures, and markets power sports vehicles worldwide. It operates in five segments: ORV/Snowmobiles, Motorcycles, Global Adjacent Markets, Aftermarket, and Boats. The company offers off-road vehicles (ORVs), including all-terrain vehicles and side-by-side vehicles; snowmobiles and snow bike conversion kit systems; motorcycles; low emission, light duty hauling, passenger, and industrial vehicles; and boats.

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Institutional Ownership by Quarter for Polaris Industries (NYSE:PII)

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