JPMorgan Chase & Co. Sells 1,135,452 Shares of Dana Incorporated (DAN)
JPMorgan Chase & Co. cut its stake in shares of Dana Incorporated (NYSE:DAN) by 45.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,388,958 shares of the auto parts company’s stock after selling 1,135,452 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.96% of Dana worth $31,016,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Dana by 11.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,055 shares of the auto parts company’s stock worth $113,000 after buying an additional 520 shares during the period. US Bancorp DE lifted its holdings in Dana by 15.0% during the 1st quarter. US Bancorp DE now owns 9,476 shares of the auto parts company’s stock worth $183,000 after buying an additional 1,233 shares during the period. World Asset Management Inc lifted its holdings in Dana by 0.3% during the 1st quarter. World Asset Management Inc now owns 10,815 shares of the auto parts company’s stock worth $209,000 after buying an additional 37 shares during the period. Shelton Capital Management acquired a new position in Dana during the 1st quarter worth about $210,000. Finally, Koch Industries Inc. acquired a new position in Dana during the 1st quarter worth about $237,000. 98.61% of the stock is currently owned by hedge funds and other institutional investors.
Dana Incorporated (DAN) opened at 26.46 on Monday. The stock has a 50 day moving average price of $23.86 and a 200 day moving average price of $21.36. Dana Incorporated has a 52-week low of $13.93 and a 52-week high of $26.50. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of 5.61 and a beta of 1.49.
Dana (NYSE:DAN) last posted its earnings results on Monday, July 31st. The auto parts company reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.17. The company had revenue of $18.40 million during the quarter, compared to analyst estimates of $1.67 billion. Dana had a net margin of 10.80% and a return on equity of 30.79%. Dana’s revenue for the quarter was down 98.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 earnings per share. Equities research analysts forecast that Dana Incorporated will post $2.33 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 11th were issued a dividend of $0.06 per share. The ex-dividend date was Wednesday, August 9th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.91%. Dana’s dividend payout ratio is currently 5.10%.
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Several research analysts have commented on DAN shares. BidaskClub downgraded Dana from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Barclays PLC downgraded Dana from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $23.00 to $24.00 in a report on Wednesday, July 19th. Guggenheim started coverage on Dana in a report on Wednesday, June 21st. They set a “buy” rating and a $27.00 target price on the stock. UBS AG downgraded Dana to a “neutral” rating in a report on Thursday, July 13th. Finally, Zacks Investment Research downgraded Dana from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $23.50.
Dana Company Profile
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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