Bank of America Corp DE Purchases Shares of 727,038 Knowles Corporation $KN

Key Points

• Bank of America acquired 727,038 Knowles shares in the second quarter, valued at approximately $30.2 million and representing 0.85% of the company. Institutional investors collectively own 96.35% of Knowles.
• Analyst sentiment remains positive, with Knowles holding a consensus “Moderate Buy” rating and an average price target of $40.67; individual targets range as high as $44.
• Knowles reported quarterly EPS of $0.33, beating estimates by $0.02, while revenue rose 14.3% year over year to $166.8 million. The stock opened at $36.96, up 2.6%.

Bank of America Corp DE acquired a new position in shares of Knowles Corporation (NYSE:KN - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 727,038 shares of the communications equipment provider's stock, valued at approximately $30,158,000. Bank of America Corp DE owned 0.85% of Knowles as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Millstone Evans Group LLC boosted its position in shares of Knowles by 212.9% in the first quarter. Millstone Evans Group LLC now owns 973 shares of the communications equipment provider's stock valued at $25,000 after acquiring an additional 662 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in Knowles by 35.9% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,151 shares of the communications equipment provider's stock worth $48,000 after acquiring an additional 304 shares during the period. Global Retirement Partners LLC bought a new position in Knowles during the second quarter worth about $60,000. Hilltop National Bank acquired a new stake in Knowles in the 2nd quarter worth about $80,000. Finally, Meeder Asset Management Inc. acquired a new stake in Knowles in the 1st quarter worth about $51,000. Institutional investors and hedge funds own 96.35% of the company's stock.

Analysts Set New Price Targets

KN has been the subject of a number of analyst reports. Weiss Ratings downgraded shares of Knowles from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, August 31st. Susquehanna increased their price target on Knowles from $33.00 to $40.00 and gave the stock a "neutral" rating in a research report on Friday, July 24th. Zacks Research raised Knowles from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 28th. Wall Street Zen cut Knowles from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 1st. Finally, Robert W. Baird set a $44.00 price objective on Knowles in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $40.67.

Insider Buying and Selling

In related news, Director Cheryl Shavers sold 6,618 shares of Knowles stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $39.27, for a total transaction of $259,888.86. Following the sale, the director directly owned 35,723 shares of the company's stock, valued at approximately $1,402,842.21. The trade was a 15.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Raymond Cabrera sold 6,178 shares of the company's stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $36.28, for a total transaction of $224,137.84. Following the transaction, the senior vice president owned 127,945 shares of the company's stock, valued at approximately $4,641,844.60. This represents a 4.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 2.24% of the company's stock.

Knowles Stock Up 2.6%

NYSE KN opened at $36.96 on Wednesday. The business has a fifty day moving average price of $36.20 and a two-hundred day moving average price of $34.15. The stock has a market capitalization of $3.16 billion, a PE ratio of 48.00 and a beta of 1.59. Knowles Corporation has a fifty-two week low of $20.57 and a fifty-two week high of $42.93. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.20 and a quick ratio of 1.75.

Knowles (NYSE:KN - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The communications equipment provider reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.02. Knowles had a return on equity of 11.45% and a net margin of 10.63%.The company had revenue of $166.80 million during the quarter, compared to analysts' expectations of $156.97 million. During the same quarter in the previous year, the firm earned $0.24 EPS. Knowles's revenue was up 14.3% on a year-over-year basis. Knowles has set its Q3 2026 guidance at 0.340-0.380 EPS. Equities analysts expect that Knowles Corporation will post 1.02 earnings per share for the current fiscal year.

Knowles Profile

Knowles Corporation NYSE: KN is a global supplier of advanced audio, electronic and specialty component technologies. The company develops products that enable sound capture, processing and delivery in applications ranging from consumer electronics and communications equipment to medical devices and industrial systems.

Knowles' product portfolio includes microelectromechanical systems (MEMS) microphones, audio processors, speakers and related acoustic components. It also provides capacitors, resistors and other specialty electronic components, as well as precision devices used in medical, defense, aerospace and other demanding applications.

With operations and customers across North America, Europe, Asia and other international markets, Knowles serves manufacturers in the consumer electronics, mobile communications, hearing health, automotive, industrial and aerospace and defense sectors.

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