Bank of New York Mellon Corp Sells 7,289 Shares of Autoliv, Inc. (NYSE:ALV)

Bank of New York Mellon Corp trimmed its position in shares of Autoliv, Inc. (NYSE:ALV) by 1.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 399,059 shares of the auto parts company’s stock after selling 7,289 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.52% of Autoliv worth $35,297,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. AlphaQuest LLC lifted its holdings in shares of Autoliv by 74.4% during the fourth quarter. AlphaQuest LLC now owns 314 shares of the auto parts company’s stock valued at $29,000 after purchasing an additional 134 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Autoliv by 122.9% during the first quarter. GAMMA Investing LLC now owns 370 shares of the auto parts company’s stock valued at $33,000 after purchasing an additional 204 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Autoliv during the first quarter valued at approximately $44,000. Twin Tree Management LP bought a new position in shares of Autoliv during the fourth quarter valued at $50,000. Finally, Physician Wealth Advisors Inc. bought a new position in shares of Autoliv during the fourth quarter valued at $57,000. 69.57% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ALV. Robert W. Baird upped their price target on shares of Autoliv from $108.00 to $126.00 and gave the stock a “neutral” rating in a research note on Friday. Jefferies Financial Group began coverage on shares of Autoliv in a research note on Wednesday, July 2nd. They issued a “buy” rating and a $140.00 price target on the stock. BNP Paribas upgraded shares of Autoliv from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 9th. Wells Fargo & Company upped their price target on shares of Autoliv from $100.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 1st. Finally, Wall Street Zen upgraded shares of Autoliv from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 5th. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $119.31.

Insiders Place Their Bets

In other Autoliv news, Director Jan Carlson sold 1,555 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $108.32, for a total value of $168,437.60. Following the transaction, the director directly owned 77,493 shares in the company, valued at approximately $8,394,041.76. This trade represents a 1.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.30% of the company’s stock.

Autoliv Price Performance

NYSE ALV opened at $117.69 on Tuesday. The business’s fifty day moving average price is $106.75 and its 200-day moving average price is $97.60. The stock has a market capitalization of $9.10 billion, a price-to-earnings ratio of 13.54, a PEG ratio of 1.97 and a beta of 1.37. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.97 and a quick ratio of 0.73. Autoliv, Inc. has a 1-year low of $75.49 and a 1-year high of $118.98.

Autoliv (NYSE:ALV) last released its quarterly earnings results on Wednesday, April 16th. The auto parts company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.43. Autoliv had a net margin of 6.63% and a return on equity of 30.47%. The business had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period last year, the firm earned $1.58 earnings per share. On average, equities analysts predict that Autoliv, Inc. will post 9.51 earnings per share for the current year.

Autoliv Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be given a $0.85 dividend. The ex-dividend date is Friday, September 5th. This is an increase from Autoliv’s previous quarterly dividend of $0.70. This represents a $3.40 annualized dividend and a yield of 2.89%. Autoliv’s dividend payout ratio (DPR) is presently 32.22%.

Autoliv announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, June 4th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the auto parts company to reacquire up to 31.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

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.