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

Bank of America Corp DE lowered its position in Polaris Inc. (NYSE:PII - Free Report) by 41.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. RWWM Inc. raised its holdings in shares of 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 during the period. Artisan Partners Limited Partnership increased its position in Polaris by 132.6% during the 4th quarter. Artisan Partners Limited Partnership now owns 900,891 shares of the company's stock worth $51,909,000 after purchasing an additional 513,542 shares in the last quarter. Norges Bank acquired a new stake in Polaris during the 4th quarter worth approximately $24,659,000. Capital World Investors raised 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 during the period. Finally, Raymond James Financial Inc. acquired a new position in Polaris during the fourth quarter valued at approximately $21,776,000. Hedge funds and other institutional investors own 88.06% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on PII shares. BMO Capital Markets cut their price objective on Polaris from $60.00 to $50.00 and set a "market perform" rating on the stock in a research report on Wednesday, January 29th. DA Davidson lowered their target price on Polaris from $69.00 to $60.00 and set a "buy" rating for the company in a research note on Thursday, January 30th. Robert W. Baird boosted their price target on Polaris from $33.00 to $38.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. Royal Bank of Canada decreased their price target on Polaris from $54.00 to $34.00 and set a "sector perform" rating for the company in a report on Wednesday, April 30th. Finally, Wall Street Zen lowered shares of Polaris from a "hold" rating to a "sell" rating in a research note on Thursday, May 8th. Two 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. According to MarketBeat.com, Polaris presently has an average rating of "Hold" and a consensus target price of $45.82.

Polaris Stock Performance

Shares of Polaris stock traded up $1.73 on Tuesday, reaching $39.76. 1,506,118 shares of the company were exchanged, compared to its average volume of 1,183,874. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of 20.29, a P/E/G ratio of 13.95 and a beta of 1.05. Polaris Inc. has a 1-year low of $30.92 and a 1-year high of $88.00. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.39 and a current ratio of 1.15. The company's 50-day moving average is $36.82 and its two-hundred day moving average is $48.50.

Polaris (NYSE:PII - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported ($0.90) earnings per share (EPS) 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 for the quarter, compared to analysts' expectations of $1.53 billion. During the same period last year, the business posted $0.23 earnings per share. The firm's quarterly revenue was down 11.6% compared to the same quarter last year. As a group, research analysts expect that Polaris Inc. will post 1.11 earnings per share for the current fiscal year.

Polaris Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 6.74%. The ex-dividend date is Monday, June 2nd. Polaris's payout ratio is 372.22%.

Polaris Profile

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.