Deutsche Bank AG lifted its stake in shares of Polaris Inc. (NYSE:PII – Free Report) by 305.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,982 shares of the company’s stock after purchasing an additional 20,320 shares during the period. Deutsche Bank AG’s holdings in Polaris were worth $1,105,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in PII. UMB Bank n.a. raised its stake in shares of Polaris by 114.1% during the 1st quarter. UMB Bank n.a. now owns 805 shares of the company’s stock worth $33,000 after purchasing an additional 429 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of Polaris during the 1st quarter worth approximately $35,000. Fifth Third Bancorp raised its stake in shares of Polaris by 46.9% during the 1st quarter. Fifth Third Bancorp now owns 996 shares of the company’s stock worth $41,000 after purchasing an additional 318 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of Polaris by 191.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,214 shares of the company’s stock worth $50,000 after purchasing an additional 797 shares in the last quarter. Finally, Allworth Financial LP raised its stake in shares of Polaris by 7,462.5% during the 1st quarter. Allworth Financial LP now owns 1,210 shares of the company’s stock worth $50,000 after purchasing an additional 1,194 shares in the last quarter. Institutional investors own 88.06% of the company’s stock.
Polaris Stock Up 7.4%
PII stock opened at $57.2440 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.04 and a quick ratio of 0.37. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of -30.45 and a beta of 1.04. The business’s fifty day moving average price is $48.82 and its two-hundred day moving average price is $42.99. Polaris Inc. has a fifty-two week low of $30.92 and a fifty-two week high of $87.83.
Polaris Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.67 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $2.68 annualized dividend and a yield of 4.7%. Polaris’s dividend payout ratio (DPR) is presently -142.55%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on PII. Robert W. Baird upped their price objective on Polaris from $46.00 to $55.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 30th. Morgan Stanley dropped their price objective on Polaris from $31.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 1st. Citigroup reiterated a “sell” rating and set a $27.00 price objective (up previously from $23.00) on shares of Polaris in a research note on Monday, June 16th. Roth Capital increased their price target on Polaris from $32.00 to $41.00 and gave the company a “neutral” rating in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada increased their price target on Polaris from $34.00 to $56.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $48.33.
Get Our Latest Analysis on Polaris
About Polaris
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.
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