Arrowstreet Capital Limited Partnership Acquires Shares of 53,956 Koninklijke Philips N.V. $PHG

Key Points

• Arrowstreet Capital acquired 53,956 Philips shares during the first quarter, valued at approximately $1.48 million. Institutional investors collectively own 13.67% of the company.
• Philips reported quarterly earnings of $0.27 per share, exceeding the $0.24 analyst estimate, while revenue reached $4.52 billion versus expectations of $4.49 billion.
• Shares opened at $26.59, near their 50-day moving average, but analyst sentiment remains cautious: the stock carries an average “Reduce” rating, including one Sell rating and four Holds.

Arrowstreet Capital Limited Partnership acquired a new stake in shares of Koninklijke Philips N.V. (NYSE:PHG - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 53,956 shares of the technology company's stock, valued at approximately $1,478,000.

Other institutional investors also recently modified their holdings of the company. Morgan Stanley increased its stake in shares of Koninklijke Philips by 11.0% during the fourth quarter. Morgan Stanley now owns 2,841,880 shares of the technology company's stock valued at $76,958,000 after buying an additional 282,661 shares during the period. Northern Trust Corp raised its holdings in Koninklijke Philips by 8.1% in the 3rd quarter. Northern Trust Corp now owns 1,922,551 shares of the technology company's stock worth $52,409,000 after purchasing an additional 143,811 shares in the last quarter. Brandes Investment Partners LP raised its holdings in Koninklijke Philips by 6.6% in the 4th quarter. Brandes Investment Partners LP now owns 1,725,997 shares of the technology company's stock worth $46,740,000 after purchasing an additional 107,356 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Koninklijke Philips by 1.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 973,527 shares of the technology company's stock worth $26,363,000 after purchasing an additional 17,431 shares in the last quarter. Finally, Investment Management Associates Inc. ADV lifted its position in shares of Koninklijke Philips by 1.5% in the 1st quarter. Investment Management Associates Inc. ADV now owns 515,007 shares of the technology company's stock worth $14,111,000 after purchasing an additional 7,743 shares during the period. 13.67% of the stock is currently owned by hedge funds and other institutional investors.

Koninklijke Philips Stock Up 0.5%

Shares of Koninklijke Philips stock opened at $26.59 on Thursday. Koninklijke Philips N.V. has a 1 year low of $23.85 and a 1 year high of $33.44. The firm has a market cap of $26.14 billion, a price-to-earnings ratio of 19.60, a PEG ratio of 10.98 and a beta of 0.76. The company has a 50-day moving average of $26.62 and a 200 day moving average of $27.85. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.26 and a quick ratio of 0.82.

Koninklijke Philips (NYSE:PHG - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The technology company reported $0.27 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.03. Koninklijke Philips had a net margin of 6.30% and a return on equity of 14.38%. The business had revenue of $4.52 billion for the quarter, compared to analysts' expectations of $4.49 billion. As a group, sell-side analysts anticipate that Koninklijke Philips N.V. will post 1.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PHG. Zacks Research lowered shares of Koninklijke Philips from a "hold" rating to a "strong sell" rating in a research note on Wednesday, July 15th. Weiss Ratings downgraded shares of Koninklijke Philips from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, July 21st. UBS Group restated a "neutral" rating on shares of Koninklijke Philips in a report on Monday. Finally, Wall Street Zen raised Koninklijke Philips from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Reduce".

About Koninklijke Philips

Koninklijke Philips N.V. NYSE: PHG, commonly known as Philips, is a Dutch multinational company focused on health technology. Founded in Eindhoven in 1891, the company evolved from a diversified electronics manufacturer into a specialist in healthcare products, systems and services. Philips is legally registered in the Netherlands and operates globally, supplying equipment and solutions to hospitals, clinics, healthcare providers and consumers across Europe, the Americas and Asia.

Philips' principal activities center on medical technologies and personal health.

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