Kimball Electronics, Inc. $KE Shares Purchased by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. raised its stake in Kimball Electronics by 806.4% in Q3, adding 100,275 shares to hold 112,710 shares (about 0.46% of the company) worth approximately $3.37 million.
• Other institutions also increased exposure—BNP Paribas bought 258,333 shares (now 260,850 shares, ~$7.79M)—and institutional ownership totals 75.99% of the stock.
• Analysts have a consensus rating of "Moderate Buy" with a consensus target price of $32.00, although recent notes include downgrades from Zacks (to Hold) and a cut from Wall Street Zen (to Buy).

JPMorgan Chase & Co. raised its stake in shares of Kimball Electronics, Inc. (NASDAQ:KE - Free Report) by 806.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 112,710 shares of the electronics maker's stock after acquiring an additional 100,275 shares during the period. JPMorgan Chase & Co. owned approximately 0.46% of Kimball Electronics worth $3,366,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its holdings in shares of Kimball Electronics by 10,263.5% in the third quarter. BNP Paribas Financial Markets now owns 260,850 shares of the electronics maker's stock valued at $7,789,000 after purchasing an additional 258,333 shares during the period. Hillsdale Investment Management Inc. acquired a new stake in shares of Kimball Electronics during the third quarter worth $6,846,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Kimball Electronics by 70.1% during the second quarter. Arrowstreet Capital Limited Partnership now owns 411,921 shares of the electronics maker's stock worth $7,921,000 after purchasing an additional 169,735 shares during the period. American Century Companies Inc. grew its position in Kimball Electronics by 19.9% in the 3rd quarter. American Century Companies Inc. now owns 837,443 shares of the electronics maker's stock valued at $25,006,000 after buying an additional 139,029 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new position in Kimball Electronics in the 3rd quarter valued at $2,337,000. 75.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on KE. Zacks Research downgraded shares of Kimball Electronics from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 6th. Weiss Ratings reiterated a "hold (c)" rating on shares of Kimball Electronics in a research note on Friday, January 9th. Finally, Wall Street Zen cut shares of Kimball Electronics from a "strong-buy" rating to a "buy" rating in a report on Monday, February 23rd. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $32.00.

Kimball Electronics Price Performance

Kimball Electronics stock opened at $24.24 on Friday. Kimball Electronics, Inc. has a one year low of $12.41 and a one year high of $33.19. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.31 and a current ratio of 2.21. The business has a fifty day moving average of $25.24 and a two-hundred day moving average of $27.83. The company has a market cap of $586.85 million, a P/E ratio of 25.25, a price-to-earnings-growth ratio of 0.88 and a beta of 1.18.

Kimball Electronics (NASDAQ:KE - Get Free Report) last posted its quarterly earnings results on Wednesday, February 4th. The electronics maker reported $0.28 earnings per share for the quarter, hitting analysts' consensus estimates of $0.28. Kimball Electronics had a net margin of 1.65% and a return on equity of 6.09%. The business had revenue of $341.28 million for the quarter, compared to analysts' expectations of $339.34 million. As a group, analysts predict that Kimball Electronics, Inc. will post 0.89 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.