Bank of New York Mellon Corp Reduces Position in Kimball Electronics, Inc. (NASDAQ:KE)

Bank of New York Mellon Corp lessened its stake in shares of Kimball Electronics, Inc. (NASDAQ:KE) by 5.0% during the 4th quarter, Holdings Channel reports. The firm owned 93,721 shares of the electronics maker’s stock after selling 4,978 shares during the quarter. Bank of New York Mellon Corp’s holdings in Kimball Electronics were worth $1,755,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Barclays PLC boosted its holdings in shares of Kimball Electronics by 96.4% in the 3rd quarter. Barclays PLC now owns 65,749 shares of the electronics maker’s stock valued at $1,218,000 after acquiring an additional 32,271 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its position in Kimball Electronics by 289.1% during the third quarter. Dynamic Technology Lab Private Ltd now owns 35,533 shares of the electronics maker’s stock worth $658,000 after acquiring an additional 26,402 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Kimball Electronics by 0.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 95,526 shares of the electronics maker’s stock worth $1,768,000 after acquiring an additional 556 shares during the period. BNP Paribas Financial Markets raised its position in shares of Kimball Electronics by 271.3% in the third quarter. BNP Paribas Financial Markets now owns 27,898 shares of the electronics maker’s stock valued at $516,000 after buying an additional 20,385 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Kimball Electronics by 0.7% in the third quarter. Geode Capital Management LLC now owns 577,229 shares of the electronics maker’s stock valued at $10,686,000 after buying an additional 4,044 shares during the last quarter. 75.99% of the stock is owned by hedge funds and other institutional investors.

Kimball Electronics Stock Down 0.3 %

Shares of NASDAQ:KE opened at $16.99 on Friday. The company has a quick ratio of 1.29, a current ratio of 2.28 and a debt-to-equity ratio of 0.33. Kimball Electronics, Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $24.45. The firm’s 50 day moving average price is $17.69 and its 200 day moving average price is $18.27. The stock has a market cap of $417.19 million, a price-to-earnings ratio of 53.10 and a beta of 1.21.

Kimball Electronics (NASDAQ:KE) last released its quarterly earnings data on Tuesday, February 4th. The electronics maker reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.05. Kimball Electronics had a net margin of 0.51% and a return on equity of 5.48%. As a group, equities research analysts predict that Kimball Electronics, Inc. will post 0.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on KE shares. Lake Street Capital reduced their target price on shares of Kimball Electronics from $23.00 to $21.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. StockNews.com raised shares of Kimball Electronics from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.75.

Kimball Electronics Profile

Kimball Electronics, Inc engages in the provision of electronics manufacturing, engineering, and supply chain support services to customers in the automotive, medical, and industrial end markets. The Company also offers contract manufacturing services, including engineering and supply chain support for the production of electronic assemblies and other products, including non-electronic components, medical devices, medical disposables, and precision molded plastics, as well as automation, test, and inspection equipment primarily used in automotive, medical, and industrial applications.