PNC Financial Services Group Inc. trimmed its holdings in shares of Dana Inc (NYSE:DAN) by 92.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,679 shares of the auto parts company’s stock after selling 303,691 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Dana were worth $499,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Delpha Capital Management LLC lifted its position in Dana by 1,472.2% during the first quarter. Delpha Capital Management LLC now owns 9,433 shares of the auto parts company’s stock valued at $243,000 after purchasing an additional 8,833 shares during the period. First Allied Advisory Services Inc. lifted its position in Dana by 30.5% during the first quarter. First Allied Advisory Services Inc. now owns 9,639 shares of the auto parts company’s stock valued at $250,000 after purchasing an additional 2,255 shares during the period. HAP Trading LLC lifted its position in Dana by 38.4% during the first quarter. HAP Trading LLC now owns 14,391 shares of the auto parts company’s stock valued at $371,000 after purchasing an additional 3,991 shares during the period. Xact Kapitalforvaltning AB lifted its position in Dana by 41.4% during the first quarter. Xact Kapitalforvaltning AB now owns 18,090 shares of the auto parts company’s stock valued at $466,000 after purchasing an additional 5,300 shares during the period. Finally, Sciencast Management LP acquired a new position in Dana during the first quarter valued at $559,000. 93.88% of the stock is currently owned by institutional investors.
A number of research analysts recently issued reports on the stock. ValuEngine downgraded shares of Dana from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 28th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Dana in a report on Tuesday, July 17th. Zacks Investment Research cut shares of Dana from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 3rd. Buckingham Research cut their price objective on shares of Dana from $26.00 to $22.00 and set a “neutral” rating for the company in a report on Thursday, July 26th. Finally, Stephens reaffirmed a “hold” rating and issued a $23.00 price objective on shares of Dana in a report on Wednesday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $27.67.
Dana (NYSE:DAN) last released its quarterly earnings data on Wednesday, July 25th. The auto parts company reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.04). The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2 billion. Dana had a net margin of 2.51% and a return on equity of 32.56%. The firm’s quarterly revenue was up 11063.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 EPS. equities analysts anticipate that Dana Inc will post 2.95 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 31st. Investors of record on Friday, August 10th were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, August 9th. This represents a $0.40 annualized dividend and a yield of 2.05%. Dana’s dividend payout ratio is presently 15.87%.
Dana Incorporated provides drive and motion products, sealing solutions, thermal-management technologies, and fluid-power products to vehicle and engine manufacturer in North America, Europe, South America, and the Asia Pacific. The company operates in four segments: Light Vehicle Driveline Technologies, Commercial Vehicle Driveline Technologies, Off-Highway Driveline Technologies, and Power Technologies.
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