Pacer Advisors Inc. Trims Stake in Autoliv, Inc. (NYSE:ALV)

Key Points

• Pacer Advisors Inc. has reduced its stake in Autoliv, Inc. by 71.7%, now owning 4,878 shares valued at approximately $431,000.
• Autoliv declared a quarterly dividend of $0.85 per share, an increase from the previous $0.70, representing an annual yield of 3.1%.
• Despite Pacer's decrease in holdings, several hedge funds, including FMR LLC and FIL Ltd, increased their positions significantly during the last quarter.

Pacer Advisors Inc. trimmed its holdings in shares of Autoliv, Inc. (NYSE:ALV - Free Report) by 71.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,878 shares of the auto parts company's stock after selling 12,366 shares during the quarter. Pacer Advisors Inc.'s holdings in Autoliv were worth $431,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Cetera Investment Advisers grew its position in Autoliv by 3.6% during the first quarter. Cetera Investment Advisers now owns 5,229 shares of the auto parts company's stock worth $462,000 after buying an additional 183 shares in the last quarter. AE Wealth Management LLC purchased a new position in Autoliv during the first quarter worth about $277,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Autoliv during the first quarter worth about $3,670,000. Massachusetts Financial Services Co. MA grew its position in Autoliv by 13.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 793,306 shares of the auto parts company's stock worth $70,168,000 after buying an additional 91,312 shares in the last quarter. Finally, Signaturefd LLC grew its position in Autoliv by 63.4% during the first quarter. Signaturefd LLC now owns 678 shares of the auto parts company's stock worth $60,000 after buying an additional 263 shares in the last quarter. 69.57% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Autoliv

In related news, Director Jan Carlson sold 1,555 shares of the business's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $108.32, for a total transaction of $168,437.60. Following the transaction, the director owned 77,493 shares in the company, valued at $8,394,041.76. The trade was a 1.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.30% of the stock is currently owned by corporate insiders.

Autoliv Trading Down 1.2%

Shares of NYSE ALV traded down $1.29 during midday trading on Friday, reaching $110.26. The company had a trading volume of 661,333 shares, compared to its average volume of 868,858. Autoliv, Inc. has a one year low of $75.49 and a one year high of $118.98. The company has a quick ratio of 0.70, a current ratio of 0.93 and a debt-to-equity ratio of 0.55. The firm's fifty day moving average price is $111.37 and its 200-day moving average price is $99.71. The stock has a market cap of $8.47 billion, a PE ratio of 12.06, a price-to-earnings-growth ratio of 1.16 and a beta of 1.39.

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

Autoliv declared that its Board of Directors has initiated a share 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 stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

Autoliv Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 5th will be issued a dividend of $0.85 per share. The ex-dividend date is Friday, September 5th. This represents a $3.40 dividend on an annualized basis and a yield of 3.1%. This is a boost from Autoliv's previous quarterly dividend of $0.70. Autoliv's dividend payout ratio (DPR) is presently 30.63%.

Analyst Ratings Changes

Several research firms recently commented on ALV. Barclays restated an "overweight" rating and set a $135.00 target price (up from $105.00) on shares of Autoliv in a research report on Wednesday, July 16th. UBS Group boosted their target price on Autoliv from $103.00 to $123.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. BNP Paribas Exane raised Autoliv from a "neutral" rating to an "outperform" rating and set a $123.00 price target for the company in a research note on Friday, May 9th. Robert W. Baird dropped their price target on Autoliv from $126.00 to $124.00 and set a "neutral" rating for the company in a research note on Monday, July 21st. Finally, Wells Fargo & Company lifted their price target on Autoliv from $100.00 to $104.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 1st. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $120.64.

Autoliv Company 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.