OLD Mission Capital LLC Has $2.53 Million Position in Koninklijke Philips (NYSE:PHG)

OLD Mission Capital LLC reduced its stake in shares of Koninklijke Philips (NYSE:PHG) by 62.2% during the 4th quarter, HoldingsChannel reports. The fund owned 99,797 shares of the technology company’s stock after selling 164,105 shares during the period. OLD Mission Capital LLC’s holdings in Koninklijke Philips were worth $2,527,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. grew its stake in Koninklijke Philips by 87.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,222,192 shares of the technology company’s stock valued at $56,266,000 after purchasing an additional 1,038,321 shares in the last quarter. IHT Wealth Management LLC bought a new stake in shares of Koninklijke Philips in the 3rd quarter valued at approximately $19,593,000. Raymond James Financial Inc. acquired a new position in Koninklijke Philips in the fourth quarter worth approximately $10,655,000. JPMorgan Chase & Co. raised its position in Koninklijke Philips by 315.0% during the third 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 in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Koninklijke Philips in the third quarter valued at approximately $4,622,000. 13.67% of the stock is currently owned by hedge funds and other institutional investors.

Koninklijke Philips Stock Performance

Shares of PHG opened at $25.24 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.23 and a quick ratio of 0.74. Koninklijke Philips has a one year low of $19.22 and a one year high of $32.91. The company’s fifty day moving average price is $26.69 and its 200 day moving average price is $27.47. The company has a market capitalization of $23.72 billion, a PE ratio of -30.04, a price-to-earnings-growth ratio of 0.82 and a beta of 0.78.

Koninklijke Philips (NYSE:PHG) last issued its quarterly earnings results on Wednesday, February 19th. The technology company reported $0.54 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 during the quarter, compared to the consensus estimate of $5.10 billion. As a group, analysts expect that Koninklijke Philips will post 1.63 earnings per share for the current year.

Koninklijke Philips Cuts Dividend

The company also recently announced 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 yield of 2.9%. The ex-dividend date of this dividend is Tuesday, May 13th. Koninklijke Philips’s dividend payout ratio (DPR) is presently -89.29%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PHG. BNP Paribas upgraded shares of Koninklijke Philips from a “neutral” rating to an “outperform” rating in a research note on Tuesday, February 25th. Sanford C. Bernstein raised Koninklijke Philips from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 18th. UBS Group raised Koninklijke Philips from a “neutral” rating to a “buy” rating in a report on Thursday, February 20th. Finally, StockNews.com upgraded Koninklijke Philips from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus 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.