Bank of New York Mellon Corp Sells 29,179 Shares of Koninklijke Philips (NYSE:PHG)

Bank of New York Mellon Corp decreased its position in Koninklijke Philips (NYSE:PHG) by 34.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 54,627 shares of the technology company’s stock after selling 29,179 shares during the quarter. Bank of New York Mellon Corp’s holdings in Koninklijke Philips were worth $1,377,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Principal Securities Inc. acquired a new stake in shares of Koninklijke Philips in the fourth quarter valued at about $27,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Koninklijke Philips during the 1st quarter worth approximately $40,000. CWM LLC raised its stake in shares of Koninklijke Philips by 21.9% during the 2nd quarter. CWM LLC now owns 3,429 shares of the technology company’s stock worth $86,000 after purchasing an additional 616 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Koninklijke Philips in the 1st quarter valued at approximately $91,000. Finally, Blue Trust Inc. grew its stake in shares of Koninklijke Philips by 902.7% in the second quarter. Blue Trust Inc. now owns 3,700 shares of the technology company’s stock valued at $93,000 after buying an additional 3,331 shares in the last quarter. Institutional investors and hedge funds own 13.67% of the company’s stock.

Koninklijke Philips Stock Performance

Shares of NYSE PHG opened at $30.91 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.74 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $29.05 billion, a P/E ratio of -32.20, a P/E/G ratio of 1.06 and a beta of 0.73. Koninklijke Philips has a 12 month low of $17.75 and a 12 month high of $31.50. The stock has a 50 day moving average of $28.80 and a 200-day moving average of $25.63.

Koninklijke Philips (NYSE:PHG) last released its quarterly earnings data on Monday, July 29th. The technology company reported $0.32 EPS for the quarter. The firm had revenue of $4.80 billion for the quarter. Koninklijke Philips had a negative net margin of 2.35% and a positive return on equity of 10.15%. As a group, equities research analysts predict that Koninklijke Philips will post 1.5 EPS for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a research note on Monday, July 15th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Koninklijke Philips presently has an average rating of “Hold”.

Koninklijke Philips Profile

Koninklijke Philips N.V. operates as a health technology company in North America, the Greater China, and internationally. The company operates through Diagnosis & Treatment Businesses, Connected Care Businesses, and Personal Health Businesses segments. It also provides diagnostic imaging solutions, includes magnetic resonance imaging, X-ray systems, and computed tomography (CT) systems and software comprising detector-based spectral CT solutions, as well as molecular and hybrid imaging solutions for nuclear medicine; echography solutions focused on diagnosis, treatment planning and guidance for cardiology, general imaging, obstetrics/gynecology, and point-of-care applications; integrated interventional systems, and interventional diagnostic and therapeutic devices to treat coronary artery and peripheral vascular disease.