Sumitomo Mitsui Trust Group Inc. Sells 9,551 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Sumitomo Mitsui Trust Group Inc. reduced its position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 3.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 304,071 shares of the transportation company's stock after selling 9,551 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.19% of Knight-Swift Transportation worth $16,128,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of KNX. GAMMA Investing LLC lifted its stake in Knight-Swift Transportation by 36.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,127 shares of the transportation company's stock valued at $61,000 after purchasing an additional 302 shares during the last quarter. Inspire Investing LLC lifted its stake in Knight-Swift Transportation by 8.1% in the 3rd quarter. Inspire Investing LLC now owns 7,597 shares of the transportation company's stock valued at $410,000 after purchasing an additional 572 shares during the last quarter. Creative Planning lifted its stake in Knight-Swift Transportation by 4.7% in the 3rd quarter. Creative Planning now owns 21,133 shares of the transportation company's stock valued at $1,140,000 after purchasing an additional 945 shares during the last quarter. nVerses Capital LLC acquired a new stake in Knight-Swift Transportation in the 3rd quarter valued at about $361,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in Knight-Swift Transportation by 13.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,075,449 shares of the transportation company's stock valued at $219,870,000 after purchasing an additional 467,647 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on KNX. Evercore ISI raised their target price on shares of Knight-Swift Transportation from $49.00 to $52.00 and gave the company an "in-line" rating in a research note on Thursday, October 24th. Raymond James boosted their price objective on Knight-Swift Transportation from $62.00 to $66.00 and gave the stock a "strong-buy" rating in a report on Thursday, January 23rd. StockNews.com upgraded Knight-Swift Transportation from a "sell" rating to a "hold" rating in a report on Thursday, January 23rd. The Goldman Sachs Group boosted their price objective on Knight-Swift Transportation from $45.00 to $51.00 and gave the stock a "neutral" rating in a report on Thursday, December 12th. Finally, Citigroup cut Knight-Swift Transportation from a "neutral" rating to a "sell" rating and set a $56.00 price objective for the company. in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Knight-Swift Transportation presently has a consensus rating of "Moderate Buy" and an average price target of $59.38.

Knight-Swift Transportation Price Performance

Shares of NYSE KNX traded down $0.26 during midday trading on Friday, reaching $54.20. The company's stock had a trading volume of 2,401,463 shares, compared to its average volume of 2,235,910. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 0.85. Knight-Swift Transportation Holdings Inc. has a fifty-two week low of $45.55 and a fifty-two week high of $61.51. The business's 50 day moving average price is $54.88 and its two-hundred day moving average price is $54.04. The company has a market cap of $8.77 billion, a P/E ratio of 74.24 and a beta of 0.99.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The transportation company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.33 by $0.03. Knight-Swift Transportation had a net margin of 1.59% and a return on equity of 2.43%. On average, analysts forecast that Knight-Swift Transportation Holdings Inc. will post 2.13 EPS for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be given a dividend of $0.18 per share. This is an increase from Knight-Swift Transportation's previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Friday, March 7th. Knight-Swift Transportation's payout ratio is currently 87.67%.

Knight-Swift Transportation Profile

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides freight transportation services in the United States and Mexico. The company operates through four segments: Truckload, Less-than-truckload (LTL), Logistics, and Intermodal. The Truckload segment provides transportation services, which include irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.