State Street Corp Reduces Position in Autoliv, Inc. (NYSE:ALV)

State Street Corp trimmed its position in shares of Autoliv, Inc. (NYSE:ALV) by 6.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,405,584 shares of the auto parts company’s stock after selling 89,499 shares during the period. State Street Corp owned about 1.78% of Autoliv worth $131,239,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ALV. Quarry LP grew its stake in shares of Autoliv by 133.5% during the second quarter. Quarry LP now owns 362 shares of the auto parts company’s stock valued at $39,000 after buying an additional 207 shares during the last quarter. Fred Alger Management LLC purchased a new position in Autoliv during the 3rd quarter valued at $45,000. Benjamin F. Edwards & Company Inc. grew its position in Autoliv by 14.0% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 954 shares of the auto parts company’s stock valued at $102,000 after acquiring an additional 117 shares during the last quarter. Picton Mahoney Asset Management purchased a new stake in Autoliv in the second quarter worth $156,000. Finally, Rothschild Investment LLC bought a new stake in shares of Autoliv during the second quarter worth $209,000. 69.57% of the stock is owned by hedge funds and other institutional investors.

Autoliv Stock Performance

Shares of Autoliv stock opened at $97.53 on Friday. The company has a market capitalization of $7.68 billion, a PE ratio of 12.70, a P/E/G ratio of 0.90 and a beta of 1.59. The company has a 50-day simple moving average of $97.05 and a two-hundred day simple moving average of $101.06. Autoliv, Inc. has a one year low of $89.51 and a one year high of $129.38. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.71 and a current ratio of 0.96.

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

Autoliv Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend is Tuesday, December 3rd. This is a positive change from Autoliv’s previous quarterly dividend of $0.68. Autoliv’s dividend payout ratio is currently 36.46%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ALV. StockNews.com upgraded shares of Autoliv from a “hold” rating to a “buy” rating in a report on Thursday, December 5th. Wolfe Research initiated coverage on shares of Autoliv in a research report on Thursday, September 5th. They set an “outperform” rating and a $120.00 target price on the stock. Robert W. Baird boosted their price target on Autoliv from $103.00 to $108.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Barclays dropped their price objective on Autoliv from $115.00 to $110.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 15th. Finally, Wells Fargo & Company decreased their target price on Autoliv from $102.00 to $101.00 and set an “equal weight” rating for the company in a research report on Monday, October 21st. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $122.77.

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.