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.
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.
ILLEGAL ACTIVITY WARNING: “JPMorgan Chase & Co. Lowers Holdings in Polaris Industries Inc. (NYSE:PII)” was first posted by Markets Daily and is the property of of Markets Daily. If you are accessing this piece of content on another domain, it was illegally copied and republished in violation of United States and international trademark and copyright law. The correct version of this piece of content can be read at https://www.themarketsdaily.com/2019/06/14/jpmorgan-chase-co-lowers-holdings-in-polaris-industries-inc-nysepii.html.
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.
Recommended Story: How to identify percentage decliners
Want to see what other hedge funds are holding PII? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Polaris Industries Inc. (NYSE:PII).
Receive News & Ratings for Polaris Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Polaris Industries and related companies with MarketBeat.com's FREE daily email newsletter.