Mitsubishi UFJ Trust & Banking Corp Sells 3,592 Shares of Polaris Inc. (NYSE:PII)

Mitsubishi UFJ Trust & Banking Corp decreased its position in Polaris Inc. (NYSE:PIIGet Rating) by 51.2% during the second quarter, Holdings Channel reports. The fund owned 3,427 shares of the company’s stock after selling 3,592 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Polaris were worth $340,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of PII. Park Avenue Securities LLC lifted its holdings in Polaris by 16.7% in the first quarter. Park Avenue Securities LLC now owns 3,957 shares of the company’s stock valued at $417,000 after acquiring an additional 566 shares during the period. Signaturefd LLC raised its stake in shares of Polaris by 60.9% in the first quarter. Signaturefd LLC now owns 637 shares of the company’s stock worth $67,000 after buying an additional 241 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Polaris by 10.9% in the first quarter. Envestnet Asset Management Inc. now owns 127,323 shares of the company’s stock worth $13,410,000 after buying an additional 12,555 shares during the period. Victory Capital Management Inc. raised its stake in shares of Polaris by 24.8% in the first quarter. Victory Capital Management Inc. now owns 29,442 shares of the company’s stock worth $2,795,000 after buying an additional 5,844 shares during the period. Finally, Advisor Group Holdings Inc. raised its stake in shares of Polaris by 35.2% in the first quarter. Advisor Group Holdings Inc. now owns 27,126 shares of the company’s stock worth $2,891,000 after buying an additional 7,057 shares during the period. Institutional investors own 92.61% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on PII. Truist Financial decreased their price objective on Polaris from $115.00 to $105.00 and set a “hold” rating on the stock in a research note on Wednesday, October 5th. StockNews.com raised Polaris from a “hold” rating to a “buy” rating in a research note on Wednesday, November 16th. Citigroup downgraded Polaris from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $131.00 to $101.00 in a research note on Wednesday, October 19th. Robert W. Baird cut their target price on Polaris from $130.00 to $120.00 and set an “outperform” rating for the company in a research report on Thursday, October 6th. Finally, BMO Capital Markets cut their target price on Polaris from $138.00 to $120.00 in a research report on Wednesday, October 26th. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $113.44.

Polaris Stock Performance

NYSE PII opened at $112.52 on Wednesday. The stock has a market capitalization of $6.52 billion, a PE ratio of 20.24 and a beta of 1.52. The business has a 50 day simple moving average of $102.79 and a two-hundred day simple moving average of $107.07. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.28 and a quick ratio of 0.41. Polaris Inc. has a 1-year low of $91.86 and a 1-year high of $127.37.

Polaris Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be issued a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Wednesday, November 30th. Polaris’s dividend payout ratio is presently 46.04%.

About Polaris

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Polaris Inc designs, engineers, manufactures, and markets power sports vehicles worldwide. It operates through three segments: Off-Road, On-Road and Marine. The company offers off-road vehicles (ORVs), including all-terrain vehicles and side-by-side vehicles; snowmobiles and snow bikes conversion kit systems; motorcycles; and low emission, light duty hauling, passenger, and industrial vehicles.

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Institutional Ownership by Quarter for Polaris (NYSE:PII)

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