Fred Alger Management LLC Purchases New Position in Autoliv, Inc. (NYSE:ALV)

Fred Alger Management LLC acquired a new stake in Autoliv, Inc. (NYSE:ALV) during the 3rd quarter, Holdings Channel reports. The institutional investor acquired 478 shares of the auto parts company’s stock, valued at approximately $45,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of ALV. GAMMA Investing LLC lifted its position in Autoliv by 62.7% during the 2nd quarter. GAMMA Investing LLC now owns 262 shares of the auto parts company’s stock worth $28,000 after acquiring an additional 101 shares in the last quarter. Quarry LP boosted its stake in shares of Autoliv by 133.5% in the second quarter. Quarry LP now owns 362 shares of the auto parts company’s stock valued at $39,000 after purchasing an additional 207 shares during the period. Benjamin F. Edwards & Company Inc. grew its holdings in Autoliv by 14.0% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 954 shares of the auto parts company’s stock valued at $102,000 after purchasing an additional 117 shares in the last quarter. Picton Mahoney Asset Management purchased a new stake in Autoliv during the 2nd quarter worth $156,000. Finally, Rothschild Investment LLC acquired a new position in Autoliv in the 2nd quarter worth $209,000. Institutional investors and hedge funds own 69.57% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on ALV. Wolfe Research started coverage on Autoliv in a research note on Thursday, September 5th. They issued an “outperform” rating and a $120.00 price target on the stock. Bank of America reduced their target price on Autoliv from $137.00 to $134.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $116.00 price target on shares of Autoliv in a research note on Tuesday, September 10th. StockNews.com downgraded shares of Autoliv from a “buy” rating to a “hold” rating in a research note on Wednesday, November 27th. Finally, Wells Fargo & Company dropped their target price on shares of Autoliv from $102.00 to $101.00 and set an “equal weight” rating for the company in a research report on Monday, October 21st. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.77.

Autoliv Stock Up 0.5 %

Shares of Autoliv stock opened at $99.12 on Monday. Autoliv, Inc. has a twelve month low of $89.51 and a twelve month high of $129.38. The stock has a market capitalization of $7.81 billion, a price-to-earnings ratio of 12.91, a PEG ratio of 0.89 and a beta of 1.59. The company has a current ratio of 0.96, a quick ratio of 0.71 and a debt-to-equity ratio of 0.69. The business’s 50 day simple moving average is $96.03 and its 200-day simple moving average is $103.01.

Autoliv (NYSE:ALV) last posted its earnings results on Friday, October 18th. The auto parts company reported $1.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.16). The company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.52 billion. Autoliv had a net margin of 5.98% and a return on equity of 30.85%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.66 earnings per share. Equities research analysts forecast that Autoliv, Inc. will post 8.19 earnings per share for the current year.

Autoliv Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 3rd will be given a $0.70 dividend. This is a boost from Autoliv’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $2.80 annualized dividend and a yield of 2.82%. Autoliv’s dividend payout ratio is 35.42%.

About Autoliv

Autoliv, Inc, through its subsidiaries, develops, manufactures, and supplies passive safety systems to the automotive industry in Europe, the Americas, China, Japan, and rest of Asia. It offers passive safety systems, including modules and components for frontal-impact airbag protection systems, side-impact airbag protection systems, seatbelts, steering wheels, and inflator technologies.