Knowles Corporation $KN Shares Bought by Johnson Investment Counsel Inc.

Key Points

• Johnson Investment Counsel Inc. has increased its stake in Knowles Corporation by 39.7% during the second quarter, now holding approximately 71,984 shares worth around $1,268,000.
• Institutional investors collectively own 96.35% of Knowles Corporation, indicating a strong interest from large financial entities.
• Knowles has a market cap of $1.96 billion and reported a current stock price of $22.87, showing a significant increase from its 52-week low of $12.19.

Johnson Investment Counsel Inc. raised its stake in Knowles Corporation (NYSE:KN - Free Report) by 39.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,984 shares of the communications equipment provider's stock after acquiring an additional 20,441 shares during the quarter. Johnson Investment Counsel Inc. owned approximately 0.08% of Knowles worth $1,268,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in KN. GAMMA Investing LLC grew its position in shares of Knowles by 1,518.9% in the first quarter. GAMMA Investing LLC now owns 45,022 shares of the communications equipment provider's stock valued at $684,000 after purchasing an additional 42,241 shares during the period. SG Americas Securities LLC boosted its position in shares of Knowles by 50.0% in the first quarter. SG Americas Securities LLC now owns 23,763 shares of the communications equipment provider's stock worth $361,000 after buying an additional 7,925 shares during the period. Oppenheimer Asset Management Inc. boosted its position in shares of Knowles by 46.2% in the first quarter. Oppenheimer Asset Management Inc. now owns 14,881 shares of the communications equipment provider's stock worth $226,000 after buying an additional 4,699 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Knowles by 38.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,150,158 shares of the communications equipment provider's stock worth $17,425,000 after acquiring an additional 320,587 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Knowles by 2.2% in the first quarter. Principal Financial Group Inc. now owns 436,486 shares of the communications equipment provider's stock worth $6,635,000 after acquiring an additional 9,418 shares in the last quarter. Hedge funds and other institutional investors own 96.35% of the company's stock.

Knowles Stock Performance

KN opened at $22.87 on Wednesday. The firm has a market cap of $1.96 billion, a PE ratio of 78.85 and a beta of 1.53. The company has a quick ratio of 1.29, a current ratio of 2.00 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $21.93 and a 200-day simple moving average of $18.59. Knowles Corporation has a fifty-two week low of $12.19 and a fifty-two week high of $24.53.

Insider Buying and Selling at Knowles

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on KN. Weiss Ratings restated a "hold (c-)" rating on shares of Knowles in a research note on Wednesday, October 8th. Wall Street Zen upgraded Knowles from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 13th. Finally, Craig Hallum raised their target price on Knowles from $20.00 to $22.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $21.00.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.