Vanguard Group Inc. Lowers Stock Position in Knowles Corporation $KN

Key Points

• Vanguard Group Inc. reduced its stake in Knowles Corporation by 1.2%, owning approximately 13.13% of the company after selling over 137,000 shares, valued at around $173.6 million.
• Other institutional investors, including PNC Financial Services Group and Meeder Asset Management, increased their positions in Knowles, indicating ongoing interest in the stock.
• Research analysts have recently boosted their price targets for Knowles, with Robert W. Baird and others raising their forecasts, suggesting a positive outlook for the company.

Vanguard Group Inc. trimmed its stake in shares of Knowles Corporation (NYSE:KN - Free Report) by 1.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,423,472 shares of the communications equipment provider's stock after selling 137,886 shares during the quarter. Vanguard Group Inc. owned approximately 13.13% of Knowles worth $173,637,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Versant Capital Management Inc increased its position in Knowles by 725.6% in the 1st quarter. Versant Capital Management Inc now owns 1,643 shares of the communications equipment provider's stock valued at $25,000 after acquiring an additional 1,444 shares during the period. Sterling Capital Management LLC increased its position in Knowles by 835.5% in the 4th quarter. Sterling Capital Management LLC now owns 2,741 shares of the communications equipment provider's stock valued at $55,000 after acquiring an additional 2,448 shares during the period. Meeder Asset Management Inc. increased its position in Knowles by 47.0% in the 1st quarter. Meeder Asset Management Inc. now owns 3,703 shares of the communications equipment provider's stock valued at $56,000 after acquiring an additional 1,184 shares during the period. Bank of Montreal Can acquired a new position in Knowles in the 4th quarter valued at approximately $203,000. Finally, Stifel Financial Corp bought a new stake in shares of Knowles in the 4th quarter valued at $209,000. 96.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Knowles

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

Wall Street Analyst Weigh In

KN has been the topic of a number of analyst reports. Wall Street Zen lowered shares of Knowles from a "strong-buy" rating to a "buy" rating in a research note on Friday. Craig Hallum upped their price objective on shares of Knowles from $20.00 to $22.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Knowles presently has a consensus rating of "Moderate Buy" and an average price target of $21.00.

Knowles Stock Up 0.4%

NYSE KN traded up $0.10 on Tuesday, hitting $21.45. 537,727 shares of the company were exchanged, compared to its average volume of 615,251. The company has a market cap of $1.84 billion, a PE ratio of 73.95 and a beta of 1.45. Knowles Corporation has a 12 month low of $12.19 and a 12 month high of $21.69. The stock has a fifty day moving average of $19.07 and a 200-day moving average of $17.20. The company has a current ratio of 2.00, a quick ratio of 1.29 and a debt-to-equity ratio of 0.16.

About Knowles

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).