Connor Clark & Lunn Investment Management Ltd. Sells 1,827,296 Shares of Koninklijke Philips (NYSE:PHG)

Connor Clark & Lunn Investment Management Ltd. lowered its holdings in shares of Koninklijke Philips (NYSE:PHG - Free Report) by 60.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,183,871 shares of the technology company's stock after selling 1,827,296 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.13% of Koninklijke Philips worth $38,736,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in shares of Koninklijke Philips during the 1st quarter valued at approximately $40,000. Fairscale Capital LLC purchased a new position in Koninklijke Philips in the second quarter valued at about $54,000. Eastern Bank purchased a new position in Koninklijke Philips in the third quarter valued at about $88,000. CWM LLC lifted its holdings in shares of Koninklijke Philips by 21.9% during the second quarter. CWM LLC now owns 3,429 shares of the technology company's stock worth $86,000 after purchasing an additional 616 shares during the period. Finally, Blue Trust Inc. lifted its holdings in shares of Koninklijke Philips by 902.7% during the second quarter. Blue Trust Inc. now owns 3,700 shares of the technology company's stock worth $93,000 after purchasing an additional 3,331 shares during the period. 13.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PHG has been the subject of a number of recent analyst reports. Jefferies Financial Group upgraded Koninklijke Philips from an "underperform" rating to a "hold" rating in a research report on Tuesday, October 29th. StockNews.com downgraded Koninklijke Philips from a "buy" rating to a "hold" rating in a report on Thursday, November 14th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Koninklijke Philips presently has a consensus rating of "Hold".

Koninklijke Philips Stock Up 1.3 %

NYSE PHG traded up $0.34 on Wednesday, hitting $26.31. 667,288 shares of the stock traded hands, compared to its average volume of 969,877. The stock has a 50-day moving average of $29.90 and a 200 day moving average of $28.28. Koninklijke Philips has a twelve month low of $19.49 and a twelve month high of $32.91. The company has a market capitalization of $24.73 billion, a P/E ratio of -62.21, a price-to-earnings-growth ratio of 0.91 and a beta of 0.77. The company has a current ratio of 1.16, a quick ratio of 0.74 and a debt-to-equity ratio of 0.60.

Koninklijke Philips Company Profile

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.