Kevin Fox, President of Autoliv (NYSE:ALV) Americas, recently sold 200 shares of Autoliv Inc. (NYSE:ALV) common stock on October 22, according to a filing with the Securities and Exchange Commission. The shares were sold at an average price of $97.39 each, totaling approximately $19,477.
On the same day, Fox also exercised stock options to acquire 200 shares at a price of $80.40 per share, a transaction valued at $16,080. Following these transactions, Fox holds 2,657 shares of Autoliv common stock directly.
In other recent news, Autoliv, a global leader in automotive safety, reported third-quarter earnings and revenue figures in line with market expectations. The company posted revenue of $2.56 billion and earnings per share of $1.84, as mentioned by Mizuho Securities. Despite a 1% year-over-year drop in organic sales, Autoliv's performance surpassed the overall industry, which saw a 5% decline.
The company also revised its full-year 2024 revenue growth forecast to a 1% increase. Autoliv anticipates an 8% sequential increase in customer production plans for the upcoming December quarter, with revenue from China, attributed to domestic original equipment manufacturers (OEMs), rising by 18% year-over-year.
Mizuho Securities adjusted its outlook on Autoliv, reducing the price target to $115 from $125 while maintaining an Outperform rating. Similarly, Baird maintained a Neutral rating, adjusting the price target to $108 from $103. Autoliv also repurchased 1.3 million shares for $130 million and secured a contract for the first global autonomous L4 full passive safety system.
These recent developments underscore Autoliv's resilience amid global automotive challenges and its strategic focus on growth and long-term profitability.
InvestingPro Insights
While Kevin Fox's recent stock transactions provide insight into insider activity at Autoliv Inc. (NYSE:ALV), a broader look at the company's financial metrics and market position offers additional context for investors.
According to InvestingPro data, Autoliv currently has a market capitalization of $7.67 billion and trades at a P/E ratio of 12.59, which is relatively low compared to its peers in the auto parts industry. This valuation metric aligns with an InvestingPro Tip suggesting that Autoliv is "Trading at a low P/E ratio relative to near-term earnings growth," potentially indicating an attractive entry point for value-oriented investors.
Another noteworthy InvestingPro Tip highlights that "Management has been aggressively buying back shares." This share repurchase activity, coupled with Fox's recent stock option exercise, may signal management's confidence in the company's future prospects and commitment to enhancing shareholder value.
Autoliv's dividend policy also merits attention. The company boasts a dividend yield of 2.79% and has maintained dividend payments for 28 consecutive years, according to InvestingPro Tips. This consistent dividend history could be particularly appealing to income-focused investors in the current market environment.
For those seeking a more comprehensive analysis, InvestingPro offers 7 additional tips and a range of financial metrics to further evaluate Autoliv's investment potential.
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