Autoliv Inc. (ALV) Position Increased by Teacher Retirement System of Texas
Teacher Retirement System of Texas increased its position in shares of Autoliv Inc. (NYSE:ALV) by 30.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,281 shares of the company’s stock after buying an additional 1,484 shares during the period. Teacher Retirement System of Texas’ holdings in Autoliv were worth $675,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. PGGM Investments bought a new stake in shares of Autoliv during the second quarter worth about $28,315,000. Ameriprise Financial Inc. raised its stake in shares of Autoliv by 34.7% in the second quarter. Ameriprise Financial Inc. now owns 802,236 shares of the company’s stock worth $86,217,000 after buying an additional 206,460 shares in the last quarter. State Street Corp raised its stake in shares of Autoliv by 10.4% in the first quarter. State Street Corp now owns 864,427 shares of the company’s stock worth $102,415,000 after buying an additional 81,460 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Autoliv by 7.9% in the first quarter. Wellington Management Group LLP now owns 607,906 shares of the company’s stock worth $72,025,000 after buying an additional 44,600 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Autoliv by 278.3% in the second quarter. JPMorgan Chase & Co. now owns 54,587 shares of the company’s stock worth $5,865,000 after buying an additional 40,158 shares in the last quarter. 33.07% of the stock is owned by hedge funds and other institutional investors.
Shares of Autoliv Inc. (NYSE:ALV) traded up 2.54% during trading on Friday, reaching $106.80. 249,928 shares of the company traded hands. The company has a market capitalization of $9.42 billion, a price-to-earnings ratio of 16.66 and a beta of 1.34. The stock’s 50 day moving average is $106.00 and its 200 day moving average is $112.98. Autoliv Inc. has a 1-year low of $95.34 and a 1-year high of $129.37.
Autoliv (NYSE:ALV) last issued its quarterly earnings data on Friday, July 22nd. The company reported $1.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.04. Autoliv had a return on equity of 16.97% and a net margin of 5.83%. The company earned $2.58 billion during the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter in the previous year, the business earned $1.62 earnings per share. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, analysts forecast that Autoliv Inc. will post $6.66 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Wednesday, November 16th will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Monday, November 14th. Autoliv’s dividend payout ratio is currently 36.19%.
A number of research firms recently weighed in on ALV. Zacks Investment Research lowered shares of Autoliv from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 27th. Citigroup Inc. lowered their price objective on shares of Autoliv from $121.00 to $113.00 and set a “neutral” rating for the company in a research note on Thursday, July 28th. Berenberg Bank began coverage on shares of Autoliv in a research note on Friday, June 17th. They issued a “hold” rating and a $109.00 price objective for the company. RBC Capital Markets reaffirmed an “underperform” rating and issued a $92.00 price objective (down from $95.00) on shares of Autoliv in a research note on Monday, July 25th. Finally, Wells Fargo & Co. reaffirmed a “hold” rating on shares of Autoliv in a research note on Tuesday, July 26th. Nine investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. Autoliv currently has an average rating of “Hold” and a consensus price target of C$101.39.
Autoliv, Inc is a developer, manufacturer and supplier to the automotive industry of automotive safety systems. The Company operates through two segments: Passive Safety and Electronics. Passive Safety segment includes airbags, seatbelts and steering wheels. Electronics segment includes active safety products, such as camera-based vision systems, night driving assist, automotive radars, brake controls and other active safety systems, and passive safety electronic products, such as restraint electronics and crash sensors.
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