Geode Capital Management LLC Sells 75,746 Shares of Dana Incorporated (DAN)
Geode Capital Management LLC reduced its stake in shares of Dana Incorporated (NYSE:DAN) by 5.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,297,880 shares of the auto parts company’s stock after selling 75,746 shares during the period. Geode Capital Management LLC owned approximately 0.90% of Dana worth $25,062,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the stock. Ledyard National Bank purchased a new position in shares of Dana during the first quarter valued at about $168,000. US Bancorp DE raised its position in shares of Dana by 15.0% in the first quarter. US Bancorp DE now owns 9,476 shares of the auto parts company’s stock valued at $183,000 after buying an additional 1,233 shares during the period. World Asset Management Inc raised its position in shares of Dana by 0.3% in the first quarter. World Asset Management Inc now owns 10,815 shares of the auto parts company’s stock valued at $209,000 after buying an additional 37 shares during the period. Koch Industries Inc. bought a new position in shares of Dana during the first quarter valued at approximately $237,000. Finally, Laurion Capital Management LP bought a new position in shares of Dana during the first quarter valued at approximately $253,000. 97.36% of the stock is currently owned by institutional investors.
Dana Incorporated (NYSE DAN) traded up 1.40% during trading on Thursday, reaching $23.83. 1,843,899 shares of the company’s stock traded hands. The firm’s 50 day moving average is $22.79 and its 200-day moving average is $20.41. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of 5.08 and a beta of 1.49. Dana Incorporated has a 12 month low of $12.79 and a 12 month high of $25.10.
Dana (NYSE:DAN) last released its quarterly earnings data on Monday, July 31st. The auto parts company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.17. The business had revenue of $18.40 million for the quarter, compared to analyst estimates of $1.67 billion. Dana had a return on equity of 31.68% and a net margin of 10.80%. Dana’s revenue was down 98.8% compared to the same quarter last year. During the same period last year, the firm posted $0.53 earnings per share. Analysts expect that Dana Incorporated will post $2.31 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 11th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Wednesday, August 9th. Dana’s dividend payout ratio (DPR) is presently 5.10%.
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Several brokerages recently commented on DAN. Buckingham Research upped their price target on shares of Dana from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday. BidaskClub raised shares of Dana from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. CLSA started coverage on shares of Dana in a research report on Thursday, June 22nd. They issued a “buy” rating and a $27.00 price objective for the company. Susquehanna Bancshares Inc lowered shares of Dana from a “neutral” rating to a “negative” rating and set a $19.00 price target for the company. in a report on Thursday, July 13th. Finally, Zacks Investment Research raised shares of Dana from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Thursday, July 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $23.50.
In other news, SVP Rodney R. Filcek sold 10,000 shares of Dana stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $20.35, for a total transaction of $203,500.00. Following the sale, the senior vice president now directly owns 36,481 shares of the company’s stock, valued at $742,388.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.60% of the company’s stock.
Dana Incorporated, formerly Dana Holding Corporation, is a global provider of technology driveline, sealing and thermal-management products. The Company operates in four segments: Light Vehicle Driveline Technologies (Light Vehicle), Commercial Vehicle Driveline Technologies (Commercial Vehicle), Off-Highway Driveline Technologies (Off-Highway) and Power Technologies.
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