Koninklijke Philips (NYSE:PHG) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its position in Koninklijke Philips (NYSE:PHG) by 87.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,222,192 shares of the technology company’s stock after purchasing an additional 1,038,321 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Koninklijke Philips were worth $56,266,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. FMR LLC increased its holdings in shares of Koninklijke Philips by 0.6% in the third quarter. FMR LLC now owns 6,138,708 shares of the technology company’s stock valued at $200,859,000 after purchasing an additional 35,935 shares during the period. JPMorgan Chase & Co. grew its holdings in Koninklijke Philips by 315.0% during the third quarter. JPMorgan Chase & Co. now owns 245,729 shares of the technology company’s stock worth $8,040,000 after acquiring an additional 186,520 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Koninklijke Philips during the third quarter worth about $4,622,000. Stifel Financial Corp grew its holdings in Koninklijke Philips by 16.4% during the third quarter. Stifel Financial Corp now owns 195,222 shares of the technology company’s stock worth $6,388,000 after acquiring an additional 27,536 shares during the period. Finally, XY Capital Ltd acquired a new stake in Koninklijke Philips during the fourth quarter worth about $290,000. 13.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. BNP Paribas raised Koninklijke Philips from a “neutral” rating to an “outperform” rating in a report on Tuesday, February 25th. StockNews.com raised Koninklijke Philips from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. Finally, UBS Group raised Koninklijke Philips from a “neutral” rating to a “buy” rating in a report on Thursday, February 20th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Koninklijke Philips currently has an average rating of “Moderate Buy”.

Koninklijke Philips Stock Performance

Shares of PHG stock opened at $26.66 on Thursday. The company has a market capitalization of $25.05 billion, a P/E ratio of -31.73, a P/E/G ratio of 0.82 and a beta of 0.78. The business’s 50 day moving average is $26.59 and its two-hundred day moving average is $27.91. The company has a current ratio of 1.23, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59. Koninklijke Philips has a 12-month low of $19.10 and a 12-month high of $32.91.

Koninklijke Philips (NYSE:PHG) last issued its quarterly earnings results on Wednesday, February 19th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). The business had revenue of $5.38 billion for the quarter, compared to analysts’ expectations of $5.10 billion. Koninklijke Philips had a positive return on equity of 10.85% and a negative net margin of 3.88%. Analysts expect that Koninklijke Philips will post 1.63 EPS for the current fiscal year.

Koninklijke Philips Cuts Dividend

The firm also recently declared an annual dividend, which will be paid on Friday, June 6th. Shareholders of record on Tuesday, May 13th will be given a dividend of $0.886 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a yield of 2.9%. Koninklijke Philips’s dividend payout ratio is currently -89.29%.

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.