Bank of New York Mellon Corp Sells 23,086 Shares of Autoliv, Inc. $ALV

Bank of New York Mellon Corp lessened its holdings in shares of Autoliv, Inc. (NYSE:ALV) by 5.8% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 375,973 shares of the auto parts company’s stock after selling 23,086 shares during the quarter. Bank of New York Mellon Corp’s holdings in Autoliv were worth $42,071,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Summit Securities Group LLC acquired a new position in Autoliv during the first quarter worth $1,029,000. Entropy Technologies LP acquired a new position in shares of Autoliv in the first quarter valued at $407,000. Charles Schwab Investment Management Inc. raised its holdings in Autoliv by 418.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,483,726 shares of the auto parts company’s stock valued at $219,686,000 after acquiring an additional 2,004,515 shares during the period. Zurich Insurance Group Ltd FI bought a new stake in Autoliv in the 1st quarter valued at $1,300,000. Finally, Northern Trust Corp grew its stake in shares of Autoliv by 1.3% in the first quarter. Northern Trust Corp now owns 501,403 shares of the auto parts company’s stock valued at $44,349,000 after acquiring an additional 6,215 shares in the last quarter. Institutional investors own 69.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on ALV. Robert W. Baird dropped their price target on Autoliv from $135.00 to $133.00 and set a “neutral” rating for the company in a research note on Monday, October 20th. Mizuho upped their price objective on Autoliv from $130.00 to $140.00 and gave the company an “outperform” rating in a research note on Tuesday, September 23rd. Berenberg Bank set a $134.00 target price on Autoliv in a research report on Tuesday, October 21st. Wall Street Zen raised Autoliv from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 26th. Finally, Cowen restated a “buy” rating on shares of Autoliv in a report on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $128.00.

Autoliv Price Performance

Autoliv stock opened at $124.41 on Thursday. The business has a fifty day moving average price of $122.06 and a 200-day moving average price of $114.47. Autoliv, Inc. has a one year low of $75.49 and a one year high of $129.54. The firm has a market capitalization of $9.45 billion, a P/E ratio of 12.85, a PEG ratio of 0.88 and a beta of 1.35. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.95 and a quick ratio of 0.70.

Autoliv (NYSE:ALV) last released its quarterly earnings results on Friday, October 17th. The auto parts company reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.22. The firm had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.66 billion. Autoliv had a net margin of 7.09% and a return on equity of 31.22%. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.84 EPS. As a group, equities research analysts forecast that Autoliv, Inc. will post 9.51 EPS for the current year.

Autoliv Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 21st will be paid a $0.87 dividend. The ex-dividend date of this dividend is Friday, November 21st. This is a positive change from Autoliv’s previous quarterly dividend of $0.85. This represents a $3.48 annualized dividend and a dividend yield of 2.8%. Autoliv’s payout ratio is presently 35.12%.

Autoliv Profile

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.