Morningstar Investment Management LLC Has $2.99 Million Stock Position in Koninklijke Philips N.V. $PHG

Morningstar Investment Management LLC cut its holdings in shares of Koninklijke Philips N.V. (NYSE:PHG) by 44.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 110,306 shares of the technology company’s stock after selling 89,019 shares during the period. Morningstar Investment Management LLC’s holdings in Koninklijke Philips were worth $2,987,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Hantz Financial Services Inc. lifted its position in Koninklijke Philips by 7.5% during the 4th quarter. Hantz Financial Services Inc. now owns 93,310 shares of the technology company’s stock valued at $2,527,000 after purchasing an additional 6,547 shares during the period. EverSource Wealth Advisors LLC lifted its position in Koninklijke Philips by 5.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 7,759 shares of the technology company’s stock valued at $210,000 after purchasing an additional 399 shares during the period. Pzena Investment Management LLC lifted its position in Koninklijke Philips by 25.9% during the 4th quarter. Pzena Investment Management LLC now owns 36,969 shares of the technology company’s stock valued at $1,001,000 after purchasing an additional 7,596 shares during the period. Global Retirement Partners LLC lifted its position in Koninklijke Philips by 5,963.1% during the 4th quarter. Global Retirement Partners LLC now owns 14,309 shares of the technology company’s stock valued at $387,000 after purchasing an additional 14,073 shares during the period. Finally, Intrust Bank NA lifted its position in Koninklijke Philips by 10.1% during the 4th quarter. Intrust Bank NA now owns 16,479 shares of the technology company’s stock valued at $446,000 after purchasing an additional 1,513 shares during the period. 13.67% of the stock is currently owned by institutional investors and hedge funds.

Koninklijke Philips Stock Performance

Shares of PHG stock opened at $26.96 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.32 and a quick ratio of 0.90. The stock has a market cap of $25.96 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 6.95 and a beta of 0.74. The stock has a 50-day moving average of $27.32 and a 200-day moving average of $28.29. Koninklijke Philips N.V. has a one year low of $21.95 and a one year high of $33.44.

Koninklijke Philips (NYSE:PHG) last announced its quarterly earnings results on Wednesday, May 6th. The technology company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. The company had revenue of $4.52 billion during the quarter, compared to analysts’ expectations of $4.49 billion. Koninklijke Philips had a return on equity of 13.51% and a net margin of 5.49%. As a group, sell-side analysts expect that Koninklijke Philips N.V. will post 1.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PHG shares. Weiss Ratings downgraded shares of Koninklijke Philips from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, April 2nd. Wall Street Zen upgraded shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Zacks Research downgraded shares of Koninklijke Philips from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

About Koninklijke Philips

Koninklijke Philips N.V. (NYSE: PHG), commonly known as Philips, is a Dutch multinational company focused on health technology. Founded in Eindhoven in 1891, the company evolved from a diversified electronics manufacturer into a specialist in healthcare products, systems and services. Philips is legally registered in the Netherlands and operates globally, supplying equipment and solutions to hospitals, clinics, healthcare providers and consumers across Europe, the Americas and Asia.

Philips’ principal activities center on medical technologies and personal health.