Magna International Inc. $MGA Shares Bought by Jones Financial Companies Lllp

Jones Financial Companies Lllp raised its stake in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 8.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 133,207 shares of the company’s stock after purchasing an additional 10,889 shares during the quarter. Jones Financial Companies Lllp’s holdings in Magna International were worth $6,210,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. LRI Investments LLC acquired a new position in shares of Magna International in the 2nd quarter valued at $27,000. Farther Finance Advisors LLC raised its position in Magna International by 98.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,839 shares of the company’s stock worth $134,000 after buying an additional 1,408 shares during the last quarter. Arkadios Wealth Advisors acquired a new stake in Magna International during the 3rd quarter valued at approximately $210,000. RiverFront Investment Group LLC acquired a new stake in shares of Magna International in the second quarter worth $213,000. Finally, Cigna Investments Inc. New acquired a new stake in shares of Magna International in the third quarter worth $218,000. 67.49% of the stock is currently owned by institutional investors and hedge funds.

Magna International Stock Performance

NYSE:MGA opened at $52.60 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.83 and a current ratio of 1.18. The stock has a market capitalization of $14.74 billion, a PE ratio of 14.37 and a beta of 1.50. Magna International Inc. has a fifty-two week low of $30.39 and a fifty-two week high of $57.55. The company has a fifty day moving average of $53.14 and a two-hundred day moving average of $48.36.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Royal Bank Of Canada increased their price target on Magna International from $47.00 to $48.00 and gave the stock a “sector perform” rating in a research report on Monday, November 3rd. BMO Capital Markets boosted their price target on Magna International from $49.00 to $52.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. Wells Fargo & Company raised their price objective on shares of Magna International from $50.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Monday, January 12th. JPMorgan Chase & Co. boosted their target price on shares of Magna International from $53.00 to $57.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. Finally, Scotiabank raised their price target on shares of Magna International from $52.00 to $57.00 and gave the company a “sector perform” rating in a research report on Tuesday, January 27th. Three investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $52.80.

Magna International Profile

Magna International Inc is a leading global automotive supplier specializing in the design, engineering, and manufacturing of vehicle systems, assemblies, modules, and components. Headquartered in Aurora, Ontario, the company partners with major original equipment manufacturers (OEMs) to develop technologies and solutions that enhance vehicle performance, safety, comfort, and fuel efficiency. Magna’s broad portfolio encompasses body exteriors and structures, powertrain systems, seating and interiors, roof systems, mirror systems, and advanced driver assistance systems (ADAS).

The company operates more than 350 manufacturing and assembly facilities and over 100 innovation centers across 27 countries, serving customers in North America, Europe, Asia, South America, and Africa.