Truist Financial Corp Sells 18,503 Shares of Knowles Co. (NYSE:KN)

Truist Financial Corp lessened its holdings in shares of Knowles Co. (NYSE:KNGet Rating) by 38.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,943 shares of the communications equipment provider’s stock after selling 18,503 shares during the period. Truist Financial Corp’s holdings in Knowles were worth $364,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Knowles by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 10,244,149 shares of the communications equipment provider’s stock valued at $220,556,000 after buying an additional 110,065 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Knowles by 1.1% during the 2nd quarter. Franklin Resources Inc. now owns 10,145,776 shares of the communications equipment provider’s stock valued at $175,827,000 after buying an additional 111,548 shares in the last quarter. State Street Corp boosted its stake in Knowles by 9.5% in the 1st quarter. State Street Corp now owns 3,243,302 shares of the communications equipment provider’s stock worth $69,828,000 after purchasing an additional 282,174 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in Knowles by 56.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 2,640,558 shares of the communications equipment provider’s stock worth $45,761,000 after purchasing an additional 950,629 shares in the last quarter. Finally, Aristotle Capital Boston LLC boosted its stake in Knowles by 0.4% in the 2nd quarter. Aristotle Capital Boston LLC now owns 2,433,597 shares of the communications equipment provider’s stock worth $42,174,000 after purchasing an additional 9,350 shares in the last quarter. Institutional investors own 99.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on KN. StockNews.com began coverage on shares of Knowles in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Craig Hallum dropped their price target on shares of Knowles to $18.00 in a research note on Tuesday, November 1st. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.10.

Knowles Price Performance

Shares of NYSE:KN opened at $18.76 on Wednesday. Knowles Co. has a fifty-two week low of $11.57 and a fifty-two week high of $23.41. The business has a 50-day simple moving average of $16.47 and a two-hundred day simple moving average of $15.49. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.39 and a current ratio of 2.87. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -13.03 and a beta of 1.43.

Knowles (NYSE:KNGet Rating) last issued its earnings results on Thursday, October 27th. The communications equipment provider reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.07. Knowles had a positive return on equity of 7.98% and a negative net margin of 16.15%. The business had revenue of $178.20 million during the quarter, compared to analyst estimates of $177.50 million. On average, analysts expect that Knowles Co. will post 0.98 earnings per share for the current year.

Insiders Place Their Bets

In other Knowles news, Director Daniel J. Crowley purchased 2,000 shares of Knowles stock in a transaction dated Wednesday, November 2nd. The stock was purchased at an average price of $13.97 per share, with a total value of $27,940.00. Following the transaction, the director now directly owns 19,815 shares of the company’s stock, valued at $276,815.55. The purchase was disclosed in a document filed with the SEC, which is available through this link. 3.15% of the stock is owned by insiders.

Knowles Profile

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Knowles Corporation offers micro-acoustic microphones and balanced armature speakers, audio solutions, high performance capacitors, and radio frequency products for the consumer electronics, medtech, defense, electric vehicle, industrial, and communications markets. It operates in two segments, Audio and Precision Devices (PD).

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Institutional Ownership by Quarter for Knowles (NYSE:KN)

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