Citigroup Inc. lowered its stake in shares of Polaris Inc. (NYSE:PII – Get Rating) by 15.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 35,233 shares of the company’s stock after selling 6,591 shares during the period. Citigroup Inc.’s holdings in Polaris were worth $3,559,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Polaris by 1.5% during the third quarter. Vanguard Group Inc. now owns 5,885,506 shares of the company’s stock valued at $562,950,000 after acquiring an additional 89,717 shares in the last quarter. BlackRock Inc. boosted its position in Polaris by 0.3% during the first quarter. BlackRock Inc. now owns 4,803,771 shares of the company’s stock worth $505,933,000 after purchasing an additional 13,281 shares during the period. State Street Corp grew its holdings in Polaris by 14.8% during the first quarter. State Street Corp now owns 4,136,582 shares of the company’s stock valued at $435,665,000 after purchasing an additional 532,947 shares during the last quarter. Capital World Investors lifted its stake in shares of Polaris by 33.2% in the first quarter. Capital World Investors now owns 3,698,573 shares of the company’s stock worth $389,534,000 after buying an additional 922,101 shares during the last quarter. Finally, Boston Partners boosted its holdings in shares of Polaris by 3.0% during the 3rd quarter. Boston Partners now owns 2,646,911 shares of the company’s stock worth $253,221,000 after buying an additional 76,223 shares during the period. Institutional investors and hedge funds own 86.57% of the company’s stock.
Polaris Trading Down 2.4 %
Shares of PII opened at $105.78 on Monday. The company has a current ratio of 1.21, a quick ratio of 0.37 and a debt-to-equity ratio of 1.34. The stock has a market cap of $6.02 billion, a PE ratio of 12.73 and a beta of 1.61. Polaris Inc. has a 1 year low of $91.86 and a 1 year high of $123.87. The stock has a 50 day simple moving average of $107.17 and a 200-day simple moving average of $108.72.
Polaris Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be paid a dividend of $0.65 per share. The ex-dividend date is Wednesday, May 31st. This represents a $2.60 annualized dividend and a yield of 2.46%. Polaris’s dividend payout ratio is 31.29%.
Wall Street Analyst Weigh In
PII has been the topic of several research analyst reports. UBS Group downgraded Polaris from a “buy” rating to a “neutral” rating and lowered their price target for the company from $165.00 to $112.00 in a research report on Friday, January 27th. KeyCorp assumed coverage on Polaris in a report on Wednesday, April 19th. They issued an “overweight” rating and a $125.00 target price on the stock. Robert W. Baird increased their price objective on Polaris from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, February 1st. DA Davidson boosted their target price on shares of Polaris from $90.00 to $102.00 and gave the stock a “neutral” rating in a research report on Thursday, February 2nd. Finally, Royal Bank of Canada upped their target price on shares of Polaris from $108.00 to $115.00 and gave the company a “sector perform” rating in a research note on Tuesday, March 21st. Ten investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Polaris presently has a consensus rating of “Hold” and a consensus price target of $114.27.
Polaris Inc engages in designing, engineering, and manufacturing power sports vehicles. It operates through the following segments: Off-Road, On-Road, and Marine. The Off-Road segment includes off-road vehicles (ORV) and snowmobiles. The On Road segment is involved in the design and manufacture of motorcycles, moto-roadsters, light duty hauling, and passenger vehicles.
- Get a free copy of the StockNews.com research report on Polaris (PII)
- MarketBeat Week in Review – 5/15 – 5/19
- Applied Materials: Cracks In The Chip Recovery Or Time To Buy?
- Deere & Company Rallies On Farm Equipment Boom, Bullish Outlook
- How Many Roth IRAs Can You Have?
- Why You Should Consider Buying Nvidia Ahead Of Earnings
Want to see what other hedge funds are holding PII? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Polaris Inc. (NYSE:PII – Get Rating).
Receive News & Ratings for Polaris Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Polaris and related companies with MarketBeat.com's FREE daily email newsletter.