HITE Hedge Asset Management LLC Has $7.07 Million Stake in Autoliv, Inc. $ALV

HITE Hedge Asset Management LLC boosted its position in shares of Autoliv, Inc. (NYSE:ALV) by 187.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 57,277 shares of the auto parts company’s stock after buying an additional 37,355 shares during the quarter. HITE Hedge Asset Management LLC’s holdings in Autoliv were worth $7,074,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Root Financial Partners LLC bought a new position in shares of Autoliv in the 3rd quarter valued at about $32,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Autoliv by 103.5% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 348 shares of the auto parts company’s stock valued at $39,000 after purchasing an additional 177 shares during the period. Global Retirement Partners LLC raised its holdings in shares of Autoliv by 18,550.0% in the 3rd quarter. Global Retirement Partners LLC now owns 373 shares of the auto parts company’s stock valued at $46,000 after purchasing an additional 371 shares during the period. Bayforest Capital Ltd acquired a new stake in Autoliv in the 3rd quarter valued at about $53,000. Finally, Bessemer Group Inc. lifted its stake in Autoliv by 24.8% in the 3rd quarter. Bessemer Group Inc. now owns 448 shares of the auto parts company’s stock valued at $56,000 after purchasing an additional 89 shares during the last quarter. 69.57% of the stock is owned by institutional investors.

Insider Buying and Selling at Autoliv

In other Autoliv news, CEO Mikael Bratt sold 8,974 shares of the stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $123.51, for a total transaction of $1,108,378.74. Following the transaction, the chief executive officer owned 29,290 shares in the company, valued at $3,617,607.90. This trade represents a 23.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Christian Swahn sold 1,478 shares of Autoliv stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $122.03, for a total value of $180,360.34. Following the sale, the executive vice president directly owned 5,314 shares of the company’s stock, valued at $648,467.42. This represents a 21.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 22,243 shares of company stock worth $2,713,735 in the last 90 days. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on ALV shares. Evercore lowered their price target on Autoliv from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Monday, February 2nd. Morgan Stanley set a $140.00 price objective on Autoliv in a research report on Wednesday, November 26th. Wells Fargo & Company reduced their target price on Autoliv from $129.00 to $125.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 9th. Barclays reissued an “overweight” rating and set a $140.00 target price on shares of Autoliv in a report on Monday, February 2nd. Finally, Wolfe Research set a $143.00 price target on Autoliv in a research note on Monday, January 12th. Ten research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $135.71.

Autoliv Stock Down 3.5%

Shares of ALV opened at $103.84 on Friday. The firm has a market cap of $7.76 billion, a P/E ratio of 10.86, a price-to-earnings-growth ratio of 0.90 and a beta of 1.32. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.79 and a current ratio of 1.05. Autoliv, Inc. has a 52 week low of $75.49 and a 52 week high of $130.14. The firm’s 50-day simple moving average is $122.08 and its 200 day simple moving average is $121.40.

Autoliv (NYSE:ALV) last issued its quarterly earnings data on Friday, January 30th. The auto parts company reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.34. Autoliv had a net margin of 6.80% and a return on equity of 30.42%. The firm had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same period last year, the business posted $3.05 earnings per share. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, analysts forecast that Autoliv, Inc. will post 9.51 earnings per share for the current year.

Autoliv Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Wednesday, March 4th will be issued a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, March 4th. Autoliv’s dividend payout ratio (DPR) is presently 36.40%.

Autoliv Company Profile

Autoliv Inc (NYSE: ALV) is a leading global supplier of automotive safety systems, specializing in the design, development and manufacture of passive and active safety products. Its core product portfolio includes airbags, seatbelts, steering wheels, restraint control modules and pedestrian protection systems. In recent years, the company has also expanded into active safety technologies, offering radar, camera and sensor solutions that support advanced driver assistance systems (ADAS) and autonomous driving applications.

Founded in 1997 following the spin-off of Electrolux’s automotive safety business, Autoliv has evolved into a multinational organization with a presence in over 27 countries.