Polaris Inc. (NYSE:PII) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lessened its stake in Polaris Inc. (NYSE:PII - Free Report) by 41.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 175,683 shares of the company's stock after selling 126,248 shares during the quarter. Bank of America Corp DE owned 0.32% of Polaris worth $10,123,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. RWWM Inc. boosted its position in Polaris by 377.4% in the 4th quarter. RWWM Inc. now owns 889,698 shares of the company's stock worth $51,264,000 after purchasing an additional 703,322 shares in the last quarter. Artisan Partners Limited Partnership boosted its holdings in Polaris by 132.6% during the fourth quarter. Artisan Partners Limited Partnership now owns 900,891 shares of the company's stock worth $51,909,000 after buying an additional 513,542 shares in the last quarter. Norges Bank acquired a new stake in Polaris during the fourth quarter valued at $24,659,000. Capital World Investors increased its holdings in Polaris by 6.7% in the fourth quarter. Capital World Investors now owns 6,156,285 shares of the company's stock valued at $354,725,000 after buying an additional 388,050 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Polaris during the 4th quarter worth about $21,776,000. Hedge funds and other institutional investors own 88.06% of the company's stock.

Polaris Trading Up 0.2%

Polaris stock traded up $0.10 during midday trading on Thursday, hitting $39.90. 1,429,985 shares of the stock were exchanged, compared to its average volume of 1,188,504. The company has a current ratio of 1.15, a quick ratio of 0.39 and a debt-to-equity ratio of 1.27. The stock's 50-day simple moving average is $36.67 and its 200 day simple moving average is $48.18. Polaris Inc. has a fifty-two week low of $30.92 and a fifty-two week high of $88.00. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 13.95 and a beta of 1.05.

Polaris (NYSE:PII - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported ($0.90) EPS for the quarter, beating analysts' consensus estimates of ($0.91) by $0.01. The firm had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.53 billion. Polaris had a return on equity of 13.78% and a net margin of 1.54%. The firm's quarterly revenue was down 11.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.23 earnings per share. On average, equities analysts anticipate that Polaris Inc. will post 1.11 EPS for the current year.

Polaris Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a $0.67 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.68 annualized dividend and a yield of 6.72%. Polaris's dividend payout ratio (DPR) is currently 372.22%.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Citigroup lowered Polaris from a "neutral" rating to a "sell" rating and dropped their price objective for the company from $49.00 to $33.00 in a report on Thursday, March 20th. Baird R W lowered Polaris from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Robert W. Baird raised their target price on Polaris from $33.00 to $38.00 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. Royal Bank of Canada lowered their price target on Polaris from $54.00 to $34.00 and set a "sector perform" rating on the stock in a research note on Wednesday, April 30th. Finally, Bank of America reduced their price objective on Polaris from $55.00 to $45.00 and set a "neutral" rating for the company in a research note on Monday, March 17th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $45.82.

About Polaris

Polaris Inc designs, engineers, manufactures, and markets powersports vehicles in the United States, Canada, and internationally. 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; military and commercial ORVs; snowmobiles; motorcycles; and moto-roadsters, quadricycles, and boats.