Bank of America Corp DE Trims Position in Polaris Inc. (NYSE:PII)

Bank of America Corp DE reduced its stake in Polaris Inc. (NYSE:PII - Free Report) by 41.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 175,683 shares of the company's stock after selling 126,248 shares during the period. 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. Larson Financial Group LLC boosted its stake in Polaris by 386.5% during the 4th quarter. Larson Financial Group LLC now owns 506 shares of the company's stock worth $29,000 after purchasing an additional 402 shares during the period. Twin Tree Management LP purchased a new stake in Polaris during the 4th quarter valued at approximately $29,000. Lindbrook Capital LLC lifted its position in Polaris by 295.4% during the 4th quarter. Lindbrook Capital LLC now owns 518 shares of the company's stock worth $30,000 after acquiring an additional 387 shares during the period. Signaturefd LLC lifted its position in Polaris by 82.6% during the 4th quarter. Signaturefd LLC now owns 1,017 shares of the company's stock worth $59,000 after acquiring an additional 460 shares during the period. Finally, SRS Capital Advisors Inc. grew its stake in shares of Polaris by 418.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,032 shares of the company's stock valued at $117,000 after purchasing an additional 1,640 shares during the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

Polaris Price Performance

Shares of PII traded up $0.47 during mid-day trading on Thursday, reaching $40.27. 248,603 shares of the company's stock were exchanged, compared to its average volume of 1,181,369. The company has a quick ratio of 0.39, a current ratio of 1.15 and a debt-to-equity ratio of 1.27. Polaris Inc. has a 52-week low of $30.92 and a 52-week high of $88.00. The company has a market cap of $2.26 billion, a price-to-earnings ratio of 20.55, a PEG ratio of 13.95 and a beta of 1.05. The company has a 50-day simple moving average of $36.73 and a two-hundred day simple moving average of $48.38.

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

Polaris Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.68 annualized dividend and a dividend yield of 6.66%. Polaris's dividend payout ratio is currently 372.22%.

Analysts Set New Price Targets

Several equities analysts have issued reports on PII shares. UBS Group dropped their target price on Polaris from $67.00 to $48.00 and set a "neutral" rating on the stock in a research report on Monday, February 3rd. Roth Capital reaffirmed a "neutral" rating on shares of Polaris in a report on Tuesday, April 22nd. Robert W. Baird raised their target price on Polaris from $33.00 to $38.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Royal Bank of Canada reduced their price objective on shares of Polaris from $54.00 to $34.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 30th. Finally, Citigroup downgraded shares of Polaris from a "neutral" rating to a "sell" rating and decreased their price objective for the stock from $49.00 to $33.00 in a report on Thursday, March 20th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $45.82.

Polaris Company 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.