Bank of America Corp DE Sells 126,248 Shares of Polaris Inc. (NYSE:PII)

Bank of America Corp DE cut its position in Polaris Inc. (NYSE:PII - Free Report) by 41.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 about 0.32% of Polaris worth $10,123,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Larson Financial Group LLC raised its stake in shares of Polaris by 386.5% in the fourth quarter. Larson Financial Group LLC now owns 506 shares of the company's stock valued at $29,000 after buying an additional 402 shares during the period. Twin Tree Management LP bought a new stake in shares of Polaris in the fourth quarter valued at $29,000. Lindbrook Capital LLC raised its stake in shares of Polaris by 295.4% in the fourth quarter. Lindbrook Capital LLC now owns 518 shares of the company's stock valued at $30,000 after buying an additional 387 shares during the period. Signaturefd LLC raised its stake in shares of Polaris by 82.6% in the fourth quarter. Signaturefd LLC now owns 1,017 shares of the company's stock valued at $59,000 after buying an additional 460 shares during the period. Finally, SRS Capital Advisors Inc. raised its stake in shares of Polaris by 418.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,032 shares of the company's stock valued at $117,000 after buying an additional 1,640 shares during the period. 88.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PII has been the subject of several recent research reports. Citigroup cut Polaris from a "neutral" rating to a "sell" rating and reduced their price target for the company from $49.00 to $33.00 in a research report on Thursday, March 20th. UBS Group reduced their price target on Polaris from $67.00 to $48.00 and set a "neutral" rating for the company in a research report on Monday, February 3rd. Morgan Stanley reduced their target price on Polaris from $31.00 to $29.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. DA Davidson reduced their target price on Polaris from $69.00 to $60.00 and set a "buy" rating for the company in a research report on Thursday, January 30th. Finally, Robert W. Baird boosted their target price on Polaris from $33.00 to $38.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $45.82.

Polaris Trading Up 0.5%

Shares of NYSE PII traded up $0.20 during midday trading on Wednesday, reaching $39.97. The company had a trading volume of 514,111 shares, compared to its average volume of 1,181,358. Polaris Inc. has a one year low of $30.92 and a one year high of $88.00. The company has a quick ratio of 0.39, a current ratio of 1.15 and a debt-to-equity ratio of 1.27. The firm's fifty day moving average price is $36.77 and its 200-day moving average price is $48.44. The stock has a market cap of $2.25 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 13.95 and a beta of 1.05.

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

Polaris Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 6.71%. The ex-dividend date is Monday, June 2nd. Polaris's payout ratio is 372.22%.

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.