PNC Financial Services Group Inc. Lowers Stock Holdings in Hillenbrand, Inc. (NYSE:HI)

PNC Financial Services Group Inc. cut its stake in shares of Hillenbrand, Inc. (NYSE:HI) by 2.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 297,913 shares of the company’s stock after selling 5,955 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.42% of Hillenbrand worth $8,282,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Hillenbrand by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 8,702,418 shares of the company’s stock worth $437,645,000 after purchasing an additional 290,275 shares during the period. Lazard Asset Management LLC purchased a new position in shares of Hillenbrand during the first quarter valued at $3,285,000. GSA Capital Partners LLP bought a new stake in shares of Hillenbrand in the third quarter valued at about $627,000. Raymond James & Associates lifted its stake in Hillenbrand by 4.3% in the second quarter. Raymond James & Associates now owns 392,196 shares of the company’s stock worth $15,696,000 after acquiring an additional 16,323 shares during the period. Finally, Tidal Investments LLC bought a new position in Hillenbrand during the 1st quarter worth about $281,000. Institutional investors own 89.09% of the company’s stock.

Wall Street Analysts Forecast Growth

HI has been the subject of several recent research reports. DA Davidson restated a “neutral” rating and issued a $33.00 price target on shares of Hillenbrand in a report on Friday, November 15th. KeyCorp lowered their target price on Hillenbrand from $45.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Finally, StockNews.com upgraded Hillenbrand from a “sell” rating to a “hold” rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $44.67.

Hillenbrand Trading Up 2.5 %

NYSE:HI opened at $33.81 on Friday. The firm has a 50 day moving average of $28.45 and a 200 day moving average of $35.81. The company has a quick ratio of 0.83, a current ratio of 1.27 and a debt-to-equity ratio of 1.28. Hillenbrand, Inc. has a 52 week low of $25.11 and a 52 week high of $50.58. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of -11.03 and a beta of 1.38.

Hillenbrand (NYSE:HI) last posted its quarterly earnings data on Wednesday, November 13th. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.08. Hillenbrand had a positive return on equity of 14.86% and a negative net margin of 6.63%. The firm had revenue of $837.60 million during the quarter, compared to analysts’ expectations of $793.38 million. During the same quarter last year, the firm earned $1.13 EPS. The business’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Hillenbrand, Inc. will post 3.45 earnings per share for the current fiscal year.

Hillenbrand Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a dividend of $0.2225 per share. The ex-dividend date was Monday, September 16th. This represents a $0.89 annualized dividend and a dividend yield of 2.63%. This is an increase from Hillenbrand’s previous quarterly dividend of $0.22. Hillenbrand’s dividend payout ratio is -29.77%.

Hillenbrand Company Profile

Hillenbrand, Inc operates as an industrial company in the United States and internationally. The company operates through two segments, Advanced Process Solutions and Molding Technology Solutions. The Advanced Process Solutions segment designs, engineers, manufactures, markets, and services process and material handling equipment and systems comprising compounding, extrusion, and material handling equipment, equipment system design services, as well as offers mixing technology, ingredient automation, and portion process; and provides screening and separating equipment for various industries, including plastics, food and pharmaceuticals, chemicals, fertilizers, minerals, energy, wastewater treatment, forest products, and other general industrials.