Polaris Inc. (NYSE:PII) Position Reduced by State Street Corp

State Street Corp decreased its position in Polaris Inc. (NYSE:PII - Free Report) by 3.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,904,512 shares of the company's stock after selling 112,596 shares during the quarter. State Street Corp owned 5.21% of Polaris worth $241,772,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Polaris during the 2nd quarter worth approximately $205,000. JLB & Associates Inc. lifted its stake in shares of Polaris by 0.5% in the second quarter. JLB & Associates Inc. now owns 24,476 shares of the company's stock valued at $1,917,000 after purchasing an additional 120 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Polaris by 8.4% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 15,358 shares of the company's stock worth $1,203,000 after acquiring an additional 1,186 shares during the period. Ridgewood Investments LLC acquired a new position in shares of Polaris during the 2nd quarter worth $143,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Polaris by 12.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,201 shares of the company's stock valued at $955,000 after acquiring an additional 1,366 shares during the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PII shares. StockNews.com downgraded shares of Polaris from a "hold" rating to a "sell" rating in a report on Tuesday. DA Davidson decreased their price target on Polaris from $87.00 to $84.00 and set a "buy" rating on the stock in a research note on Thursday, October 24th. Royal Bank of Canada dropped their price target on Polaris from $82.00 to $73.00 and set a "sector perform" rating for the company in a research note on Wednesday, October 23rd. KeyCorp cut their target price on shares of Polaris from $90.00 to $80.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 23rd. Finally, Robert W. Baird dropped their price objective on shares of Polaris from $85.00 to $84.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, Polaris currently has a consensus rating of "Hold" and an average price target of $87.09.

Polaris Stock Performance

Shares of PII traded down $0.51 during mid-day trading on Thursday, hitting $64.65. The stock had a trading volume of 863,205 shares, compared to its average volume of 736,838. The company has a quick ratio of 0.32, a current ratio of 1.21 and a debt-to-equity ratio of 1.28. Polaris Inc. has a fifty-two week low of $63.23 and a fifty-two week high of $100.91. The company's fifty day simple moving average is $71.47 and its two-hundred day simple moving average is $77.50. The company has a market cap of $3.61 billion, a PE ratio of 18.06, a PEG ratio of 6.65 and a beta of 1.51.

Polaris (NYSE:PII - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.15). The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.77 billion. Polaris had a net margin of 2.64% and a return on equity of 17.92%. The firm's revenue for the quarter was down 23.4% compared to the same quarter last year. During the same period last year, the company posted $2.71 earnings per share. On average, equities analysts expect that Polaris Inc. will post 3.22 earnings per share for the current year.

Polaris Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.66 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.08%. Polaris's dividend payout ratio (DPR) is presently 73.74%.

Polaris Profile

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.