Geode Capital Management LLC Buys 821 Shares of Polaris Inc. (NYSE:PII)

Geode Capital Management LLC grew its stake in shares of Polaris Inc. (NYSE:PII) by 0.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 870,031 shares of the company’s stock after buying an additional 821 shares during the period. Geode Capital Management LLC owned approximately 1.56% of Polaris worth $72,440,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. bought a new position in Polaris during the 2nd quarter worth approximately $205,000. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Polaris by 8.4% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 15,358 shares of the company’s stock valued at $1,203,000 after buying an additional 1,186 shares during the period. Ridgewood Investments LLC bought a new stake in shares of Polaris in the 2nd quarter valued at $143,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Polaris by 12.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,201 shares of the company’s stock worth $955,000 after buying an additional 1,366 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Polaris during the second quarter worth about $587,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on PII. Royal Bank of Canada lowered their price target on Polaris from $82.00 to $73.00 and set a “sector perform” rating for the company in a report on Wednesday, October 23rd. StockNews.com cut Polaris from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. KeyCorp cut their price target on shares of Polaris from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. DA Davidson lowered their price objective on shares of Polaris from $87.00 to $84.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Finally, Robert W. Baird cut their price objective on shares of Polaris from $85.00 to $84.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $87.09.

Polaris Trading Up 1.6 %

Polaris stock opened at $57.86 on Friday. The firm has a 50-day moving average of $69.44 and a 200-day moving average of $76.74. Polaris Inc. has a one year low of $56.70 and a one year high of $100.91. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.21 and a quick ratio of 0.32. The company has a market cap of $3.23 billion, a price-to-earnings ratio of 16.16, a P/E/G ratio of 6.59 and a beta of 1.51.

Polaris (NYSE:PII) last released its earnings results on Tuesday, October 22nd. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.15). The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.77 billion. Polaris had a return on equity of 17.92% and a net margin of 2.64%. The business’s revenue was down 23.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.71 EPS. On average, equities analysts expect that Polaris Inc. will post 3.22 earnings per share for the current fiscal year.

Polaris Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date of this dividend was Monday, December 2nd. Polaris’s dividend payout ratio is currently 73.74%.

Polaris Profile

Polaris Inc designs, engineers, manufactures, and markets powersports vehicles in the United States, Canada, and internationally. It operates through three segments: Off-Road, On-Road, and Marine. The company offers off-road vehicles (ORVs), including all-terrain vehicles and side-by-side vehicles; military and commercial ORVs; snowmobiles; motorcycles; and moto-roadsters, quadricycles, and boats.