Bank of New York Mellon Corp Cuts Position in Polaris Inc. (NYSE:PII)

Bank of New York Mellon Corp lessened its holdings in Polaris Inc. (NYSE:PII) by 0.8% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 574,622 shares of the company’s stock after selling 4,771 shares during the period. Bank of New York Mellon Corp owned approximately 1.02% of Polaris worth $44,999,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lantz Financial LLC lifted its stake in Polaris by 0.8% in the first quarter. Lantz Financial LLC now owns 14,784 shares of the company’s stock valued at $1,480,000 after purchasing an additional 114 shares during the last quarter. JLB & Associates Inc. lifted its stake in 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 purchasing an additional 120 shares during the last quarter. Fifth Third Bancorp lifted its stake in Polaris by 3.3% in the first quarter. Fifth Third Bancorp now owns 3,770 shares of the company’s stock valued at $377,000 after purchasing an additional 122 shares during the last quarter. New York Life Investment Management LLC lifted its stake in Polaris by 2.8% in the fourth quarter. New York Life Investment Management LLC now owns 6,088 shares of the company’s stock valued at $577,000 after purchasing an additional 167 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Polaris by 14.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,331 shares of the company’s stock valued at $133,000 after purchasing an additional 169 shares during the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Citigroup dropped their target price on Polaris from $86.00 to $83.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. DA Davidson upgraded Polaris from a “neutral” rating to a “buy” rating and set a $87.00 target price on the stock in a research report on Thursday, July 25th. StockNews.com downgraded Polaris from a “hold” rating to a “sell” rating in a research report on Thursday, August 22nd. Truist Financial dropped their target price on Polaris from $92.00 to $82.00 and set a “hold” rating on the stock in a research report on Monday, July 8th. Finally, KeyCorp dropped their target price on Polaris from $105.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Polaris presently has an average rating of “Hold” and an average target price of $89.18.

Polaris Trading Up 1.0 %

Polaris stock opened at $84.65 on Monday. The stock has a market cap of $4.78 billion, a P/E ratio of 12.41, a PEG ratio of 7.52 and a beta of 1.53. Polaris Inc. has a fifty-two week low of $71.90 and a fifty-two week high of $114.24. The firm’s fifty day moving average price is $80.43 and its 200-day moving average price is $85.27. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.40 and a current ratio of 1.42.

Polaris (NYSE:PII) last released its earnings results on Tuesday, July 23rd. The company reported $1.38 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.89). The firm had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $2.18 billion. Polaris had a net margin of 3.98% and a return on equity of 26.38%. The firm’s revenue was down 11.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.42 EPS. Equities research analysts forecast that Polaris Inc. will post 3.79 earnings per share for the current fiscal year.

Polaris Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be paid a $0.66 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $2.64 dividend on an annualized basis and a yield of 3.12%. Polaris’s dividend payout ratio is presently 38.71%.

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.