Oppenheimer Asset Management Inc. Sells 11,223 Shares of Polaris Inc. (NYSE:PII)

Oppenheimer Asset Management Inc. cut its position in Polaris Inc. (NYSE:PII) by 55.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 9,080 shares of the company’s stock after selling 11,223 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Polaris were worth $756,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. JLB & Associates Inc. grew its stake in shares of Polaris by 0.5% in the second quarter. JLB & Associates Inc. now owns 24,476 shares of the company’s stock valued at $1,917,000 after buying an additional 120 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its holdings in Polaris by 2.4% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 7,477 shares of the company’s stock valued at $586,000 after purchasing an additional 172 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its holdings in Polaris by 1.2% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 16,120 shares of the company’s stock valued at $1,262,000 after purchasing an additional 187 shares during the last quarter. Isthmus Partners LLC lifted its holdings in Polaris by 5.0% during the 2nd quarter. Isthmus Partners LLC now owns 4,011 shares of the company’s stock valued at $314,000 after purchasing an additional 190 shares during the last quarter. Finally, National Bank of Canada FI lifted its holdings in Polaris by 27.9% during the 2nd quarter. National Bank of Canada FI now owns 918 shares of the company’s stock valued at $69,000 after purchasing an additional 200 shares during the last quarter. 88.06% of the stock is owned by institutional investors.

Polaris Stock Down 0.2 %

Shares of NYSE PII opened at $66.71 on Tuesday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.32 and a current ratio of 1.21. Polaris Inc. has a 52 week low of $66.00 and a 52 week high of $100.91. The stock has a market capitalization of $3.72 billion, a P/E ratio of 18.63, a PEG ratio of 6.98 and a beta of 1.52. The stock’s fifty day moving average is $77.21 and its 200 day moving average is $79.67.

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

Polaris Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date of this dividend is Monday, December 2nd. Polaris’s payout ratio is currently 73.74%.

Analyst Upgrades and Downgrades

PII has been the subject of several research reports. BMO Capital Markets cut their price target on Polaris from $90.00 to $75.00 and set a “market perform” rating for the company in a report on Wednesday, July 24th. Robert W. Baird cut their price target on Polaris from $85.00 to $84.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. KeyCorp cut their price target on Polaris from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Longbow Research reaffirmed a “neutral” rating on shares of Polaris in a report on Wednesday, July 24th. Finally, StockNews.com raised Polaris from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Polaris has an average rating of “Hold” and an average price target of $87.09.

Polaris Company 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.