Coastline Trust Co cut its stake in Autoliv Inc. (NYSE:ALV) by 4.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 23,080 shares of the auto parts company’s stock after selling 1,145 shares during the quarter. Coastline Trust Co’s holdings in Autoliv were worth $1,821,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Rockefeller Capital Management L.P. bought a new position in Autoliv in the 2nd quarter valued at $30,000. Financial Gravity Wealth Inc. boosted its position in Autoliv by 495.4% in the 2nd quarter. Financial Gravity Wealth Inc. now owns 774 shares of the auto parts company’s stock valued at $55,000 after buying an additional 644 shares during the last quarter. HM Payson & Co. bought a new position in Autoliv in the 2nd quarter valued at $143,000. Mirova bought a new position in Autoliv in the 2nd quarter valued at $160,000. Finally, NumerixS Investment Technologies Inc bought a new position in Autoliv in the 2nd quarter valued at $176,000. 37.79% of the stock is owned by institutional investors and hedge funds.
NYSE:ALV opened at $80.35 on Monday. Autoliv Inc. has a 12-month low of $61.07 and a 12-month high of $91.00. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $6.96 billion, a P/E ratio of 11.76, a P/E/G ratio of 1.75 and a beta of 1.50. The stock’s fifty day simple moving average is $76.39 and its 200-day simple moving average is $72.60.
Autoliv (NYSE:ALV) last posted its quarterly earnings results on Friday, July 19th. The auto parts company reported $1.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.37 by $0.01. Autoliv had a return on equity of 23.49% and a net margin of 2.89%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same period last year, the company earned $2.22 EPS. The firm’s revenue was down 2.6% on a year-over-year basis. As a group, equities research analysts expect that Autoliv Inc. will post 5.82 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Wednesday, November 20th will be given a $0.62 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $2.48 annualized dividend and a dividend yield of 3.09%. Autoliv’s dividend payout ratio is currently 36.31%.
A number of brokerages have commented on ALV. Barclays set a $50.00 price objective on Autoliv and gave the company a “sell” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $234.00 price objective on shares of Autoliv in a research report on Thursday. Robert W. Baird upgraded Autoliv from an “underperform” rating to a “neutral” rating and set a $74.00 price objective on the stock in a research report on Monday, July 15th. Royal Bank of Canada decreased their price objective on Autoliv from $63.00 to $61.00 and set an “underperform” rating on the stock in a research report on Monday, July 22nd. Finally, ValuEngine upgraded Autoliv from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 1st. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $100.41.
Autoliv, Inc, through its subsidiaries, develops, manufactures, and supplies automotive safety systems to the automotive industry. The company offers passive safety systems, including modules and components for frontal-impact airbag protection systems, side-impact airbag protection systems, seatbelts, steering wheels, inflator technologies, battery cable cutters, pedestrian protection systems, and child seats.
Further Reading: Cost of Debt
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