CIBC Asset Management Inc Reduces Stock Position in Autoliv Inc. (NYSE:ALV)

CIBC Asset Management Inc lessened its stake in shares of Autoliv Inc. (NYSE:ALV) by 6.5% during the third quarter, HoldingsChannel.com reports. The fund owned 5,232 shares of the auto parts company’s stock after selling 361 shares during the quarter. CIBC Asset Management Inc’s holdings in Autoliv were worth $413,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Autoliv by 11.4% in the second quarter. Vanguard Group Inc. now owns 2,441,464 shares of the auto parts company’s stock worth $172,147,000 after buying an additional 250,137 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Autoliv by 6,413.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 121,599 shares of the auto parts company’s stock worth $8,573,000 after acquiring an additional 119,732 shares during the period. Bank of America Corp DE raised its stake in Autoliv by 42.3% during the 2nd quarter. Bank of America Corp DE now owns 254,669 shares of the auto parts company’s stock worth $17,956,000 after acquiring an additional 75,737 shares during the period. State of New Jersey Common Pension Fund D bought a new stake in Autoliv during the 3rd quarter worth approximately $5,411,000. Finally, Gateway Investment Advisers LLC raised its stake in Autoliv by 126.7% during the 2nd quarter. Gateway Investment Advisers LLC now owns 107,204 shares of the auto parts company’s stock worth $7,559,000 after acquiring an additional 59,922 shares during the period. 37.88% of the stock is currently owned by hedge funds and other institutional investors.

ALV has been the topic of a number of recent analyst reports. Robert W. Baird upgraded shares of Autoliv from an “underperform” rating to a “neutral” rating and set a $74.00 target price on the stock in a research note on Monday, July 15th. UBS Group restated a “buy” rating and set a $230.00 target price on shares of Autoliv in a research note on Friday. Barclays restated a “buy” rating and set a $228.00 target price on shares of Autoliv in a research note on Friday. DZ Bank restated a “buy” rating on shares of Autoliv in a research note on Friday. Finally, Buckingham Research raised their target price on shares of Autoliv from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $148.92.

Autoliv stock opened at $86.31 on Friday. The stock has a market cap of $7.38 billion, a P/E ratio of 12.64, a PEG ratio of 1.92 and a beta of 1.50. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.26 and a quick ratio of 0.94. Autoliv Inc. has a 1 year low of $61.07 and a 1 year high of $91.00. The firm’s 50 day moving average price is $79.35 and its 200-day moving average price is $72.65.

Autoliv (NYSE:ALV) last released its quarterly earnings data on Friday, October 25th. The auto parts company reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.08). The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.05 billion. Autoliv had a net margin of 2.51% and a return on equity of 23.42%. The company’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.35 EPS. As a group, equities analysts expect that Autoliv Inc. will post 5.65 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 2.87%. The ex-dividend date is Tuesday, November 19th. Autoliv’s payout ratio is currently 36.31%.

Autoliv Profile

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.

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Institutional Ownership by Quarter for Autoliv (NYSE:ALV)

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