Renaissance Technologies LLC cut its holdings in Koninklijke Philips NV (NYSE:PHG) by 67.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,347 shares of the technology company’s stock after selling 285,431 shares during the quarter. Renaissance Technologies LLC’s holdings in Koninklijke Philips were worth $5,951,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. People s United Financial Inc. lifted its position in Koninklijke Philips by 2.3% in the 2nd quarter. People s United Financial Inc. now owns 51,247 shares of the technology company’s stock valued at $2,166,000 after acquiring an additional 1,147 shares in the last quarter. Morningstar Investment Services LLC lifted its position in Koninklijke Philips by 5.4% in the 2nd quarter. Morningstar Investment Services LLC now owns 23,257 shares of the technology company’s stock valued at $983,000 after acquiring an additional 1,199 shares in the last quarter. Stifel Financial Corp lifted its position in Koninklijke Philips by 4.0% in the 1st quarter. Stifel Financial Corp now owns 33,865 shares of the technology company’s stock valued at $1,298,000 after acquiring an additional 1,291 shares in the last quarter. Smithfield Trust Co. lifted its position in Koninklijke Philips by 30.2% in the 2nd quarter. Smithfield Trust Co. now owns 5,874 shares of the technology company’s stock valued at $248,000 after acquiring an additional 1,364 shares in the last quarter. Finally, Eqis Capital Management Inc. lifted its position in Koninklijke Philips by 12.6% in the 2nd quarter. Eqis Capital Management Inc. now owns 15,060 shares of the technology company’s stock valued at $637,000 after acquiring an additional 1,680 shares in the last quarter. 4.86% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Koninklijke Philips from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. ValuEngine upgraded shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd. Exane BNP Paribas upgraded shares of Koninklijke Philips from a “neutral” rating to an “outperform” rating in a research note on Tuesday, September 18th. Credit Suisse Group lowered shares of Koninklijke Philips from an “outperform” rating to a “neutral” rating in a research note on Tuesday, October 2nd. Finally, BNP Paribas upgraded shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a research note on Monday, September 17th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. Koninklijke Philips currently has a consensus rating of “Buy” and an average target price of $48.00.

Shares of PHG opened at $40.75 on Friday. The firm has a market cap of $42.15 billion, a price-to-earnings ratio of 32.86, a P/E/G ratio of 4.48 and a beta of 1.14. The company has a quick ratio of 0.89, a current ratio of 1.27 and a debt-to-equity ratio of 0.32. Koninklijke Philips NV has a 1-year low of $35.47 and a 1-year high of $46.67.

Koninklijke Philips (NYSE:PHG) last announced its earnings results on Monday, July 23rd. The technology company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.15). The company had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $4.35 billion. Koninklijke Philips had a net margin of 7.30% and a return on equity of 7.81%. Koninklijke Philips’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.27 earnings per share. Sell-side analysts expect that Koninklijke Philips NV will post 1.85 earnings per share for the current year.

Koninklijke Philips Profile

Koninklijke Philips N.V. operates as a health technology company worldwide. The company offers mother and child care, and oral healthcare products; male grooming and beauty products; kitchen appliance, coffee, air, garment care, and floor care products; and sleep, respiratory care, and respiratory drug delivery products.

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Institutional Ownership by Quarter for Koninklijke Philips (NYSE:PHG)

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