Private Harbour Investment Management & Counsel LLC reduced its holdings in shares of Knowles Corp (NYSE:KN) by 4.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 133,802 shares of the communications equipment provider’s stock after selling 6,856 shares during the period. Knowles comprises 2.0% of Private Harbour Investment Management & Counsel LLC’s portfolio, making the stock its 13th biggest position. Private Harbour Investment Management & Counsel LLC owned about 0.15% of Knowles worth $2,224,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. CIBC Asset Management Inc acquired a new stake in Knowles during the 2nd quarter worth about $175,000. We Are One Seven LLC acquired a new position in Knowles in the 3rd quarter worth about $232,000. UBS Group AG raised its holdings in Knowles by 112.3% in the 1st quarter. UBS Group AG now owns 14,620 shares of the communications equipment provider’s stock worth $184,000 after purchasing an additional 7,733 shares during the period. Crossmark Global Holdings Inc. raised its holdings in Knowles by 38.4% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 15,472 shares of the communications equipment provider’s stock worth $237,000 after purchasing an additional 4,290 shares during the period. Finally, NJ State Employees Deferred Compensation Plan raised its holdings in Knowles by 24.0% in the 2nd quarter. NJ State Employees Deferred Compensation Plan now owns 15,500 shares of the communications equipment provider’s stock worth $237,000 after purchasing an additional 3,000 shares during the period.
A number of research firms recently weighed in on KN. ValuEngine raised Knowles from a “hold” rating to a “buy” rating in a report on Tuesday, September 4th. Zacks Investment Research upgraded Knowles from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research note on Wednesday, October 31st. Robert W. Baird restated a “buy” rating and issued a $18.00 price target on shares of Knowles in a research report on Wednesday, October 17th. Finally, Roth Capital dropped their price target on Knowles from $22.00 to $17.00 and set a “buy” rating for the company in a research report on Monday, October 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $17.14.
Knowles (NYSE:KN) last released its quarterly earnings results on Wednesday, October 24th. The communications equipment provider reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.04. The company had revenue of $236.20 million for the quarter, compared to analysts’ expectations of $219.73 million. Knowles had a return on equity of 6.40% and a net margin of 8.99%. The firm’s revenue was up 20.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.26 earnings per share. On average, sell-side analysts expect that Knowles Corp will post 0.7 EPS for the current fiscal year.
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Knowles Company Profile
Knowles Corporation designs, manufactures, and sells micro-acoustic, audio processing, and precision device solutions to the mobile consumer electronics, industrial, defense, aerospace medical, and telecommunications markets worldwide. The company operates in two segments, Audio and Precision Devices.
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