Northern Trust Corp Purchases 6,215 Shares of Autoliv, Inc. $ALV

Key Points

• Northern Trust Corp has increased its holdings in Autoliv, Inc. by 1.3%, owning approximately 501,403 shares worth $44.35 million as of the latest SEC filing.
• Autoliv recently reported earnings of $2.21 per share for the quarter, surpassing the consensus estimate of $2.07, with revenue of $2.71 billion, a 4.2% increase year-over-year.
• The company announced an increase in its quarterly dividend from $0.70 to $0.85, reflecting a positive dividend yield of 2.7% as part of a broader share repurchase program authorized for $2.50 billion.

Northern Trust Corp increased its holdings in shares of Autoliv, Inc. (NYSE:ALV - Free Report) by 1.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 501,403 shares of the auto parts company's stock after buying an additional 6,215 shares during the quarter. Northern Trust Corp owned 0.65% of Autoliv worth $44,349,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ALV. Charles Schwab Investment Management Inc. increased its holdings in Autoliv by 418.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,483,726 shares of the auto parts company's stock worth $219,686,000 after purchasing an additional 2,004,515 shares in the last quarter. Lancaster Investment Management increased its holdings in Autoliv by 58.8% during the 1st quarter. Lancaster Investment Management now owns 903,537 shares of the auto parts company's stock worth $79,918,000 after purchasing an additional 334,716 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in Autoliv during the 4th quarter worth about $25,749,000. LSV Asset Management increased its holdings in Autoliv by 73.4% during the 1st quarter. LSV Asset Management now owns 556,633 shares of the auto parts company's stock worth $49,234,000 after purchasing an additional 235,553 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Autoliv by 14.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,857,069 shares of the auto parts company's stock worth $164,257,000 after purchasing an additional 233,469 shares in the last quarter. Institutional investors and hedge funds own 69.57% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. UBS Group increased their target price on Autoliv from $103.00 to $123.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Wall Street Zen upgraded Autoliv from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 26th. Jefferies Financial Group assumed coverage on Autoliv in a report on Wednesday, July 2nd. They issued a "buy" rating and a $140.00 price objective for the company. Robert W. Baird decreased their price objective on Autoliv from $126.00 to $124.00 and set a "neutral" rating for the company in a report on Monday, July 21st. Finally, Mizuho raised their price objective on Autoliv from $95.00 to $112.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Autoliv currently has a consensus rating of "Moderate Buy" and a consensus price target of $120.64.

Autoliv Stock Performance

ALV stock traded down $0.35 during mid-day trading on Tuesday, hitting $123.72. 239,207 shares of the company were exchanged, compared to its average volume of 793,617. The business has a 50 day simple moving average of $116.52 and a 200-day simple moving average of $102.90. The company has a current ratio of 0.93, a quick ratio of 0.70 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $9.50 billion, a PE ratio of 13.52, a price-to-earnings-growth ratio of 1.29 and a beta of 1.34. Autoliv, Inc. has a 1-year low of $75.49 and a 1-year high of $125.82.

Autoliv (NYSE:ALV - Get Free Report) last issued its quarterly earnings data on Friday, July 18th. The auto parts company reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.14. Autoliv had a net margin of 6.83% and a return on equity of 30.73%. The firm had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same period last year, the business posted $1.87 earnings per share. The business's revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities analysts forecast that Autoliv, Inc. will post 9.51 earnings per share for the current year.

Autoliv announced that its board has authorized a share repurchase plan on Wednesday, June 4th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the auto parts company to purchase up to 31.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Autoliv Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th will be given a $0.85 dividend. The ex-dividend date is Friday, September 5th. This is a positive change from Autoliv's previous quarterly dividend of $0.70. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.7%. Autoliv's dividend payout ratio (DPR) is presently 30.63%.

Insider Buying and Selling at Autoliv

In other news, Director Jan Carlson sold 1,555 shares of Autoliv 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 completion of the sale, the director directly owned 77,493 shares in the company, valued at approximately $8,394,041.76. The trade was a 1.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.30% of the company's stock.

About Autoliv

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.