423,096 PTC Inc. $PTC Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lifted its position in PTC Inc. (NASDAQ:PTC) by 52.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,228,905 shares of the technology company’s stock after purchasing an additional 423,096 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 1.13% of PTC worth $172,415,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in PTC by 10.2% in the second quarter. State Street Corp now owns 6,452,323 shares of the technology company’s stock valued at $733,048,000 after buying an additional 596,955 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of PTC by 0.3% in the 1st quarter. Janus Henderson Group PLC now owns 3,530,070 shares of the technology company’s stock valued at $503,000,000 after acquiring an additional 11,278 shares during the period. Jupiter Topco LLC acquired a new position in shares of PTC in the 2nd quarter valued at $418,553,000. Amundi increased its holdings in shares of PTC by 151.9% in the 1st quarter. Amundi now owns 1,725,555 shares of the technology company’s stock valued at $245,885,000 after acquiring an additional 1,040,656 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in PTC by 17.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 770,014 shares of the technology company’s stock valued at $109,705,000 after purchasing an additional 117,024 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Insider Activity

In related news, Director Corinna Lathan sold 1,750 shares of the stock in a transaction on Monday, October 5th. The stock was sold at an average price of $195.75, for a total transaction of $342,562.50. Following the sale, the director owned 6,679 shares of the company’s stock, valued at $1,307,414.25. This trade represents a 20.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PTC shares. Robert W. Baird cut shares of PTC from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Deutsche Bank Aktiengesellschaft cut shares of PTC to a “hold” rating and set a $205.00 target price for the company. in a report on Monday, October 5th. Stifel Nicolaus set a $205.00 target price on shares of PTC in a research note on Monday, October 5th. Weiss Ratings raised PTC from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, October 6th. Finally, Mizuho raised their price target on PTC from $160.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, October 6th. Two equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $200.06.

PTC Stock Performance

NASDAQ:PTC opened at $195.54 on Monday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.03 and a current ratio of 1.03. PTC Inc. has a 1 year low of $108.50 and a 1 year high of $199.51. The stock has a fifty day moving average price of $162.93 and a two-hundred day moving average price of $147.40. The stock has a market capitalization of $21.22 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 2.57 and a beta of 0.92.

PTC Profile

PTC Inc (NASDAQ: PTC) develops software that helps manufacturers and other industrial companies design, manage, and optimize products and production processes. Its portfolio supports computer-aided design, product lifecycle management, digital manufacturing, and industrial Internet of Things initiatives.

The company’s products include Creo for 3D computer-aided design and engineering, Windchill for product lifecycle management, and Codebeamer for application lifecycle management. PTC also offers ThingWorx for industrial connectivity and IoT applications, Kepware for industrial automation connectivity, and Vuforia for augmented reality solutions.

Founded in 1985, PTC serves customers globally across industries such as automotive, aerospace and defense, industrial equipment, electronics, and life sciences.