PNC Financial Services Group Inc. Has $260,000 Position in Knowles Corporation (NYSE:KN)

PNC Financial Services Group Inc. boosted its position in Knowles Corporation (NYSE:KN) by 4.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,110 shares of the communications equipment provider’s stock after purchasing an additional 759 shares during the period. PNC Financial Services Group Inc.’s holdings in Knowles were worth $260,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. LPL Financial LLC increased its stake in shares of Knowles by 29.2% in the fourth quarter. LPL Financial LLC now owns 41,446 shares of the communications equipment provider’s stock valued at $826,000 after buying an additional 9,376 shares during the period. Wells Fargo & Company MN increased its stake in shares of Knowles by 24.6% in the fourth quarter. Wells Fargo & Company MN now owns 203,214 shares of the communications equipment provider’s stock valued at $4,050,000 after buying an additional 40,100 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Knowles by 21.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 32,445 shares of the communications equipment provider’s stock valued at $647,000 after buying an additional 5,825 shares during the period. Bank of Montreal Can acquired a new stake in shares of Knowles in the fourth quarter valued at about $203,000. Finally, Renaissance Technologies LLC increased its stake in shares of Knowles by 8.0% in the fourth quarter. Renaissance Technologies LLC now owns 253,600 shares of the communications equipment provider’s stock valued at $5,054,000 after buying an additional 18,826 shares during the period. Institutional investors and hedge funds own 96.35% of the company’s stock.

Insider Activity

In other Knowles news, SVP Robert J. Perna sold 56,130 shares of the stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $20.47, for a total value of $1,148,981.10. Following the transaction, the senior vice president owned 66,552 shares in the company, valued at approximately $1,362,319.44. This represents a 45.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Air A. Jr. Bastarrica sold 10,000 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $20.94, for a total value of $209,400.00. Following the completion of the transaction, the vice president owned 62,537 shares in the company, valued at approximately $1,309,524.78. The trade was a 13.79% decrease in their position. The disclosure for this sale can be found here. 2.54% of the stock is owned by corporate insiders.

Knowles Stock Down 1.7%

Shares of Knowles stock opened at $20.30 on Friday. Knowles Corporation has a one year low of $12.19 and a one year high of $21.37. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.00 and a quick ratio of 1.29. The stock’s 50-day moving average is $18.57 and its 200 day moving average is $17.09. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 70.00 and a beta of 1.45.

Analysts Set New Price Targets

KN has been the subject of several recent research reports. Wall Street Zen raised Knowles from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 29th. Craig Hallum increased their price target on Knowles from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Finally, Robert W. Baird upped their target price on Knowles from $18.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, April 25th.

Knowles Profile

Knowles Corporation offers capacitors, radio frequency (RF) filtering products, balanced armature speakers, micro-acoustic microphones, and audio solutions in Asia, the United States, Europe, other Americas, and internationally. It operates through three segments: Precision Devices (PD); Medtech & Specialty Audio (MSA); and Consumer MEMS Microphones (CMM).