Earnest Partners LLC Lowers Position in Koninklijke Philips (NYSE:PHG)

Earnest Partners LLC reduced its position in shares of Koninklijke Philips (NYSE:PHG) by 30.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,396 shares of the technology company’s stock after selling 11,479 shares during the period. Earnest Partners LLC’s holdings in Koninklijke Philips were worth $665,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised its stake in shares of Koninklijke Philips by 27.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 23,163 shares of the technology company’s stock worth $540,000 after buying an additional 5,022 shares in the last quarter. Corient Private Wealth LLC raised its position in Koninklijke Philips by 21.0% in the fourth quarter. Corient Private Wealth LLC now owns 64,724 shares of the technology company’s stock worth $1,510,000 after acquiring an additional 11,211 shares in the last quarter. US Bancorp DE raised its position in Koninklijke Philips by 4.3% in the fourth quarter. US Bancorp DE now owns 69,129 shares of the technology company’s stock worth $1,613,000 after acquiring an additional 2,828 shares in the last quarter. Dorsey & Whitney Trust CO LLC lifted its holdings in Koninklijke Philips by 5.7% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 11,374 shares of the technology company’s stock valued at $265,000 after acquiring an additional 615 shares during the period. Finally, Qtron Investments LLC purchased a new stake in shares of Koninklijke Philips during the 4th quarter worth $400,000. Institutional investors and hedge funds own 13.67% of the company’s stock.

Analysts Set New Price Targets

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 assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold”.

Koninklijke Philips Stock Performance

NYSE PHG opened at $32.74 on Friday. The business has a 50 day moving average price of $29.28 and a 200 day moving average price of $25.98. The company has a market capitalization of $30.77 billion, a P/E ratio of -34.10, a PEG ratio of 1.00 and a beta of 0.73. Koninklijke Philips has a 1-year low of $17.75 and a 1-year high of $32.88. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.16 and a quick ratio of 0.74.

Koninklijke Philips (NYSE:PHG) last released its quarterly earnings results on Monday, July 29th. The technology company reported $0.32 earnings per share (EPS) for the quarter. Koninklijke Philips had a positive return on equity of 10.15% and a negative net margin of 2.35%. The business had revenue of $4.80 billion during the quarter. Sell-side analysts expect that Koninklijke Philips will post 1.56 EPS for the current fiscal year.

About Koninklijke Philips

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.