Raymond James Financial Inc. Acquires Shares of 817,710 Knowles Co. (NYSE:KN)

Raymond James Financial Inc. bought a new position in Knowles Co. (NYSE:KN) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 817,710 shares of the communications equipment provider’s stock, valued at approximately $16,297,000. Raymond James Financial Inc. owned about 0.93% of Knowles at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in KN. Pacer Advisors Inc. lifted its holdings in shares of Knowles by 54,279.3% in the 3rd quarter. Pacer Advisors Inc. now owns 2,621,626 shares of the communications equipment provider’s stock worth $47,268,000 after acquiring an additional 2,616,805 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Knowles by 33.1% in the 3rd quarter. Wellington Management Group LLP now owns 2,392,668 shares of the communications equipment provider’s stock worth $43,140,000 after acquiring an additional 594,484 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Knowles by 64.0% in the 3rd quarter. Victory Capital Management Inc. now owns 1,092,161 shares of the communications equipment provider’s stock worth $19,692,000 after acquiring an additional 426,214 shares during the last quarter. Foundry Partners LLC bought a new stake in shares of Knowles in the 3rd quarter worth about $5,243,000. Finally, Franklin Resources Inc. increased its stake in Knowles by 2.9% in the 3rd quarter. Franklin Resources Inc. now owns 9,475,339 shares of the communications equipment provider’s stock worth $169,135,000 after buying an additional 265,814 shares during the period. Institutional investors own 96.35% of the company’s stock.

Knowles Trading Up 1.2 %

KN stock opened at $16.21 on Tuesday. The company has a market capitalization of $1.42 billion, a PE ratio of -6.12 and a beta of 1.42. Knowles Co. has a 12 month low of $15.00 and a 12 month high of $20.86. The firm’s 50-day moving average is $18.25 and its 200 day moving average is $18.36. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.23.

Knowles (NYSE:KN) last posted its earnings results on Thursday, February 13th. The communications equipment provider reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The business had revenue of $142.50 million for the quarter. Knowles had a negative net margin of 34.66% and a positive return on equity of 5.52%.

Analysts Set New Price Targets

KN has been the topic of several recent analyst reports. Craig Hallum downgraded shares of Knowles from a “buy” rating to a “hold” rating and set a $17.00 price target on the stock. in a research note on Friday, February 14th. StockNews.com raised shares of Knowles from a “hold” rating to a “buy” rating in a research note on Monday, February 17th.

Knowles Company 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).