Arrowstreet Capital Limited Partnership Increases Position in Koninklijke Philips (NYSE:PHG)

Arrowstreet Capital Limited Partnership raised its stake in shares of Koninklijke Philips (NYSE:PHG - Free Report) by 107.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 129,624 shares of the technology company's stock after purchasing an additional 67,289 shares during the quarter. Arrowstreet Capital Limited Partnership's holdings in Koninklijke Philips were worth $3,282,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. raised its stake in Koninklijke Philips by 87.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,222,192 shares of the technology company's stock worth $56,266,000 after acquiring an additional 1,038,321 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Koninklijke Philips in the 4th quarter worth approximately $10,655,000. JPMorgan Chase & Co. lifted its stake in Koninklijke Philips by 315.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 245,729 shares of the technology company's stock valued at $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 purchased a new stake in shares of Koninklijke Philips in the 3rd quarter valued at $4,622,000. Finally, Jane Street Group LLC raised its holdings in shares of Koninklijke Philips by 787.9% during the third quarter. Jane Street Group LLC now owns 128,686 shares of the technology company's stock worth $4,211,000 after purchasing an additional 114,193 shares during the last quarter. Hedge funds and other institutional investors own 13.67% of the company's stock.

Koninklijke Philips Price Performance

NYSE PHG traded up $0.41 on Monday, hitting $23.82. The company had a trading volume of 71,504 shares, compared to its average volume of 894,816. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.23 and a quick ratio of 0.74. The company has a market capitalization of $22.39 billion, a PE ratio of -28.32, a PEG ratio of 0.82 and a beta of 0.81. Koninklijke Philips has a 12-month low of $19.25 and a 12-month high of $32.91. The company's fifty day moving average price is $25.86 and its 200-day moving average price is $26.94.

Koninklijke Philips (NYSE:PHG - Get Free Report) last announced its earnings results on Wednesday, February 19th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.01). Koninklijke Philips had a positive return on equity of 10.85% and a negative net margin of 3.88%. The business had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.10 billion. As a group, analysts predict that Koninklijke Philips will post 1.63 earnings per share for the current year.

Koninklijke Philips Cuts Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PHG shares. StockNews.com upgraded Koninklijke Philips from a "hold" rating to a "buy" rating in a research note on Saturday, March 8th. Sanford C. Bernstein raised shares of Koninklijke Philips from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 18th. BNP Paribas raised shares of Koninklijke Philips from a "neutral" rating to an "outperform" rating in a report on Tuesday, February 25th. Finally, UBS Group upgraded shares of Koninklijke Philips from a "neutral" rating to a "buy" rating in a research report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy".

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.