Bank of America Corp DE Has $29.62 Million Position in Kimball Electronics, Inc. $KE

Key Points

• Bank of America reduced its Kimball Electronics stake by 3.3% in the first quarter, selling 43,238 shares. It still held 1.25 million shares worth approximately $29.6 million, representing 5.2% of the company.
• Institutional investors and hedge funds own 75.99% of Kimball Electronics. Analyst sentiment is moderately positive, with an average rating of “Moderate Buy” and a $32 price target.
• Kimball Electronics reported a quarterly loss of $0.01 per share, missing the $0.39 consensus estimate, while revenue of $371.57 million was slightly below expectations. The stock recently traded at $25.85, near its 50- and 200-day moving averages.

Bank of America Corp DE lowered its holdings in Kimball Electronics, Inc. (NASDAQ:KE - Free Report) by 3.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,250,537 shares of the electronics maker's stock after selling 43,238 shares during the period. Bank of America Corp DE owned approximately 5.20% of Kimball Electronics worth $29,625,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quarry LP acquired a new position in Kimball Electronics during the third quarter valued at $28,000. Raymond James Financial Inc. acquired a new stake in Kimball Electronics during the 2nd quarter worth about $34,000. Farther Finance Advisors LLC purchased a new position in Kimball Electronics during the 4th quarter valued at about $35,000. CWM LLC grew its stake in Kimball Electronics by 135.2% during the 4th quarter. CWM LLC now owns 1,244 shares of the electronics maker's stock valued at $35,000 after acquiring an additional 715 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in Kimball Electronics during the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 75.99% of the company's stock.

Analyst Ratings Changes

KE has been the subject of a number of research analyst reports. KeyCorp began coverage on shares of Kimball Electronics in a research report on Thursday, July 2nd. They issued a "sector weight" rating for the company. Wall Street Zen downgraded shares of Kimball Electronics from a "buy" rating to a "hold" rating in a research report on Saturday, July 4th. Zacks Research upgraded shares of Kimball Electronics from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 6th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Kimball Electronics in a research report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $32.00.

Kimball Electronics Stock Performance

Shares of KE stock opened at $25.85 on Friday. Kimball Electronics, Inc. has a fifty-two week low of $21.01 and a fifty-two week high of $33.19. The stock's 50-day moving average is $25.16 and its two-hundred day moving average is $25.39. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.11 and a quick ratio of 1.29. The firm has a market cap of $621.67 million, a P/E ratio of 22.88, a PEG ratio of 1.15 and a beta of 1.23.

Kimball Electronics (NASDAQ:KE - Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The electronics maker reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.40). Kimball Electronics had a net margin of 1.95% and a return on equity of 4.42%. The firm had revenue of $371.57 million for the quarter, compared to analyst estimates of $373.63 million. Analysts predict that Kimball Electronics, Inc. will post 1.13 earnings per share for the current fiscal year.

About Kimball Electronics

Kimball Electronics, Inc is a global electronic manufacturing services (EMS) provider headquartered in Jasper, Tennessee. The company offers end-to-end product design and manufacturing solutions, serving original equipment manufacturers (OEMs) across a range of industries. With a focus on precision electronics and complex assemblies, Kimball Electronics leverages advanced engineering capabilities, quality systems and lean production methods to support customers from product concept through full-scale production.

The company's core offerings include printed circuit board assembly (PCBA), system integration, tooling and test fixture development, and aftermarket services.

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