Royal Bank of Canada Sells 4,024 Shares of Autoliv, Inc. $ALV

Key Points

• Royal Bank of Canada has reduced its stake in Autoliv, Inc. by 2.8%, selling 4,024 shares and now holding 140,820 shares valued at approximately $12.45 million.
• Analysts forecast positive growth for Autoliv, with several firms raising their price targets, including Wells Fargo increasing its target from $106 to $126 and assigning an "equal weight" rating.
• Autoliv reported quarterly earnings of $2.21 per share, exceeding expectations, and announced a $2.50 billion stock repurchase program, indicating confidence in its stock valuation.

Royal Bank of Canada lowered its position in Autoliv, Inc. (NYSE:ALV - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 140,820 shares of the auto parts company's stock after selling 4,024 shares during the quarter. Royal Bank of Canada owned about 0.18% of Autoliv worth $12,455,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ALV. GAMMA Investing LLC increased its stake in Autoliv by 122.9% in the first quarter. GAMMA Investing LLC now owns 370 shares of the auto parts company's stock valued at $33,000 after acquiring an additional 204 shares during the last quarter. Summit Securities Group LLC bought a new position in Autoliv in the first quarter valued at $1,029,000. SG Americas Securities LLC purchased a new stake in Autoliv during the first quarter valued at about $637,000. Impax Asset Management Group plc boosted its position in Autoliv by 11.9% during the first quarter. Impax Asset Management Group plc now owns 84,358 shares of the auto parts company's stock valued at $7,461,000 after buying an additional 8,953 shares during the period. Finally, Asset Management One Co. Ltd. boosted its position in Autoliv by 7.3% during the first quarter. Asset Management One Co. Ltd. now owns 75,591 shares of the auto parts company's stock valued at $6,686,000 after buying an additional 5,137 shares during the period. Institutional investors own 69.57% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Wells Fargo & Company upped their price target on shares of Autoliv from $106.00 to $126.00 and gave the company an "equal weight" rating in a research report on Tuesday. Jefferies Financial Group began coverage on shares of Autoliv in a report on Wednesday, July 2nd. They set a "buy" rating and a $140.00 target price for the company. UBS Group increased their target price on shares of Autoliv from $103.00 to $123.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Mizuho increased their target price on shares of Autoliv from $95.00 to $112.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Finally, Robert W. Baird dropped their target price on shares of Autoliv from $126.00 to $124.00 and set a "neutral" rating for the company in a report on Monday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $122.92.

Autoliv Trading Up 2.0%

Shares of Autoliv stock opened at $127.83 on Friday. The company's fifty day simple moving average is $118.43 and its 200-day simple moving average is $104.33. The stock has a market capitalization of $9.82 billion, a PE ratio of 13.99, a P/E/G ratio of 1.30 and a beta of 1.35. Autoliv, Inc. has a 1-year low of $75.49 and a 1-year high of $127.89. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.70.

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

Autoliv announced that its Board of Directors has approved a stock repurchase program on Wednesday, June 4th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the auto parts company to reacquire up to 31.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

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.

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