Connor Clark & Lunn Investment Management Ltd. Sells 1,827,296 Shares of Koninklijke Philips (NYSE:PHG)

Connor Clark & Lunn Investment Management Ltd. lowered its holdings in shares of Koninklijke Philips (NYSE:PHG) by 60.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,183,871 shares of the technology company’s stock after selling 1,827,296 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.13% of Koninklijke Philips worth $38,736,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new stake in Koninklijke Philips during the first quarter valued at about $40,000. O Shaughnessy Asset Management LLC bought a new position in Koninklijke Philips during the 1st quarter worth approximately $271,000. 1832 Asset Management L.P. increased its stake in Koninklijke Philips by 42.6% in the 1st quarter. 1832 Asset Management L.P. now owns 5,945 shares of the technology company’s stock worth $119,000 after purchasing an additional 1,777 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Koninklijke Philips by 3.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 165,089 shares of the technology company’s stock valued at $3,302,000 after purchasing an additional 5,951 shares during the last quarter. Finally, London & Capital Asset Management Ltd lifted its position in Koninklijke Philips by 12.1% in the first quarter. London & Capital Asset Management Ltd now owns 581,993 shares of the technology company’s stock valued at $11,640,000 after purchasing an additional 62,656 shares during the last quarter. Hedge funds and other institutional investors own 13.67% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PHG. StockNews.com cut shares of Koninklijke Philips from a “buy” rating to a “hold” rating in a report on Thursday, November 14th. Jefferies Financial Group raised shares of Koninklijke Philips from an “underperform” rating to a “hold” rating in a report on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold”.

Koninklijke Philips Trading Up 0.1 %

NYSE PHG opened at $25.97 on Wednesday. The stock has a market cap of $24.41 billion, a P/E ratio of -61.83, a price-to-earnings-growth ratio of 0.91 and a beta of 0.77. Koninklijke Philips has a fifty-two week low of $19.49 and a fifty-two week high of $32.91. The stock has a 50 day simple moving average of $29.90 and a two-hundred day simple moving average of $28.28. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.74 and a current ratio of 1.16.

Koninklijke Philips Profile

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.