Northern Trust Corp Purchases 519,029 Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Northern Trust Corp raised its position in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) by 41.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,771,321 shares of the communications equipment provider's stock after acquiring an additional 519,029 shares during the period. Northern Trust Corp owned approximately 0.05% of Telefonaktiebolaget LM Ericsson (publ) worth $14,277,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Renaissance Technologies LLC grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 401.1% in the fourth quarter. Renaissance Technologies LLC now owns 13,607,012 shares of the communications equipment provider's stock worth $109,673,000 after purchasing an additional 10,891,451 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 55.0% in the fourth quarter. Sei Investments Co. now owns 4,808,322 shares of the communications equipment provider's stock worth $38,755,000 after purchasing an additional 1,705,246 shares during the last quarter. National Bank of Canada FI bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the fourth quarter worth about $23,440,000. Boothbay Fund Management LLC grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 20.5% in the fourth quarter. Boothbay Fund Management LLC now owns 2,257,459 shares of the communications equipment provider's stock worth $18,195,000 after purchasing an additional 383,463 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 55.1% in the fourth quarter. JPMorgan Chase & Co. now owns 1,795,967 shares of the communications equipment provider's stock worth $14,475,000 after purchasing an additional 638,393 shares during the last quarter. Institutional investors own 7.99% of the company's stock.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

ERIC stock opened at $8.46 on Friday. The firm has a market cap of $28.19 billion, a price-to-earnings ratio of -846,000.00, a PEG ratio of 3.89 and a beta of 0.96. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.96 and a current ratio of 1.17. The firm has a 50-day simple moving average of $7.97 and a two-hundred day simple moving average of $8.08. Telefonaktiebolaget LM Ericsson has a one year low of $5.61 and a one year high of $8.90.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The communications equipment provider reported $0.12 EPS for the quarter, beating the consensus estimate of $0.09 by $0.03. Telefonaktiebolaget LM Ericsson (publ) had a net margin of 0.06% and a return on equity of 13.70%. The firm had revenue of $5.68 billion during the quarter, compared to analyst estimates of $55.83 billion. On average, equities analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.48 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on ERIC shares. JPMorgan Chase & Co. upped their price target on shares of Telefonaktiebolaget LM Ericsson (publ) from $8.90 to $9.80 and gave the stock a "neutral" rating in a report on Friday, April 11th. StockNews.com upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a "buy" rating to a "strong-buy" rating in a report on Thursday, April 17th. Finally, Kepler Capital Markets upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a "strong sell" rating to a "hold" rating in a report on Wednesday, April 16th.

Telefonaktiebolaget LM Ericsson (publ) Company Profile

Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides mobile connectivity solutions for telcom operators and enterprise customers in various sectors in North America, Europe, Latin America, the Middle East, Africa, North East Asia, South East Asia, Oceania, and India. It operates in four segments: Networks; Cloud Software and Services; Enterprise; and Other.

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