Invesco Ltd. Acquires 87,268 Shares of Knowles Corporation $KN

Key Points

• Invesco Ltd. increased its holdings in Knowles Corporation by 21.2%, acquiring an additional 87,268 shares, bringing its total to approximately 499,859 shares valued at $7.6 million.
• Analysts have downgraded Knowles from a "strong-buy" to a "buy" rating recently, while the consensus target price is set at $21.00.
• High institutional ownership is noted, with 96.35% of the company's stock held by institutional investors and hedge funds.

Invesco Ltd. raised its position in shares of Knowles Corporation (NYSE:KN - Free Report) by 21.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 499,859 shares of the communications equipment provider's stock after purchasing an additional 87,268 shares during the quarter. Invesco Ltd. owned approximately 0.57% of Knowles worth $7,598,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of KN. Versant Capital Management Inc raised its stake in shares of Knowles by 725.6% during the 1st quarter. Versant Capital Management Inc now owns 1,643 shares of the communications equipment provider's stock worth $25,000 after purchasing an additional 1,444 shares during the period. Meeder Asset Management Inc. grew its holdings in Knowles by 47.0% during the 1st quarter. Meeder Asset Management Inc. now owns 3,703 shares of the communications equipment provider's stock valued at $56,000 after buying an additional 1,184 shares in the last quarter. Stifel Financial Corp purchased a new position in Knowles during the 4th quarter valued at about $209,000. Ethic Inc. purchased a new position in Knowles during the 4th quarter valued at about $210,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Knowles during the 1st quarter valued at about $214,000. Institutional investors and hedge funds own 96.35% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on KN shares. Wall Street Zen lowered Knowles from a "strong-buy" rating to a "buy" rating in a report on Friday. Craig Hallum lifted their target price on Knowles from $20.00 to $22.00 and gave the company a "buy" rating in a report on Friday, July 25th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Knowles presently has a consensus rating of "Moderate Buy" and a consensus target price of $21.00.

Insider Transactions at Knowles

In other news, SVP Robert J. Perna sold 56,130 shares of Knowles stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $20.47, for a total transaction of $1,148,981.10. Following the transaction, the senior vice president directly owned 66,552 shares of the company's stock, valued at $1,362,319.44. The trade was a 45.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Air A. Jr. Bastarrica sold 10,000 shares of Knowles stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $20.94, for a total value of $209,400.00. Following the transaction, the vice president directly owned 62,537 shares in the company, valued at approximately $1,309,524.78. The trade was a 13.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.54% of the stock is owned by insiders.

Knowles Stock Down 1.0%

KN stock opened at $21.36 on Tuesday. Knowles Corporation has a fifty-two week low of $12.19 and a fifty-two week high of $21.69. The business's 50-day moving average is $18.98 and its two-hundred day moving average is $17.17. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.29 and a current ratio of 2.00. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 73.66 and a beta of 1.45.

Knowles Profile

Knowles Corporation offers capacitors, radio frequency (RF) filtering products, balanced armature speakers, micro-acoustic microphones, and audio solutions in Asia, the United States, Europe, other Americas, and internationally. It operates through three segments: Precision Devices (PD); Medtech & Specialty Audio (MSA); and Consumer MEMS Microphones (CMM).

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