Lithia Motors, Inc. (NYSE:LAD) Shares Sold by Harfst & Associates Inc. (2024)

Harfst & Associates Inc. trimmed its position in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 28.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,060 shares of the company's stock after selling 2,743 shares during the period. Harfst & Associates Inc.'s holdings in Lithia Motors were worth $1,782,000 as of its most recent filing with the Securities and Exchange Commission.

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A number of other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Lithia Motors in the 4th quarter valued at approximately $123,976,000. Cadian Capital Management LP acquired a new stake in Lithia Motors during the 4th quarter worth $105,370,000. Wellington Management Group LLP lifted its stake in Lithia Motors by 413.6% in the fourth quarter. Wellington Management Group LLP now owns 65,142 shares of the company's stock valued at $21,450,000 after buying an additional 52,458 shares during the period. Canada Pension Plan Investment Board increased its stake in Lithia Motors by 7.2% in the first quarter. Canada Pension Plan Investment Board now owns 727,849 shares of the company's stock valued at $218,981,000 after purchasing an additional 48,938 shares in the last quarter. Finally, Boston Partners grew its stake in Lithia Motors by 67.5% in the fourth quarter. Boston Partners now owns 82,915 shares of the company's stock valued at $26,734,000 after acquiring an additional 33,405 shares during the period.

Lithia Motors Price Performance

Shares of LAD stock traded down $3.15 on Monday, reaching $301.08. 255,500 shares of the company were exchanged, compared to its average volume of 247,889. The company has a market cap of $8.05 billion, a price-to-earnings ratio of 8.89, a P/E/G ratio of 0.30 and a beta of 1.63. Lithia Motors, Inc. has a 1 year low of $231.36 and a 1 year high of $331.96. The business has a 50-day moving average price of $271.44 and a 200 day moving average price of $271.99. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.30 and a current ratio of 1.19.

Lithia Motors (NYSE:LAD - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The company reported $7.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.09 by $0.78. Lithia Motors had a net margin of 2.52% and a return on equity of 13.84%. The firm had revenue of $9.23 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same period in the previous year, the firm earned $10.91 EPS. Lithia Motors's revenue was up 13.8% on a year-over-year basis. Equities research analysts forecast that Lithia Motors, Inc. will post 28.89 earnings per share for the current fiscal year.

Lithia Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a $0.53 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.12 annualized dividend and a dividend yield of 0.70%. Lithia Motors's dividend payout ratio is currently 6.26%.

Insider Activity at Lithia Motors

In other Lithia Motors news, Director Sidney B. Deboer sold 11,938 shares of the firm's stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $290.86, for a total value of $3,472,286.68. Following the sale, the director now directly owns 46,129 shares of the company's stock, valued at approximately $13,417,080.94. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Sidney B. Deboer sold 11,938 shares of the firm's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $290.86, for a total transaction of $3,472,286.68. Following the transaction, the director now directly owns 46,129 shares in the company, valued at $13,417,080.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Shauna Mcintyre sold 306 shares of the company's stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $289.65, for a total transaction of $88,632.90. Following the completion of the transaction, the director now owns 1,922 shares of the company's stock, valued at approximately $556,707.30. The disclosure for this sale can be found here. Corporate insiders own 1.79% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. The Goldman Sachs Group lifted their target price on Lithia Motors from $300.00 to $335.00 and gave the company a "neutral" rating in a research report on Friday, August 2nd. Bank of America upped their price target on shares of Lithia Motors from $320.00 to $330.00 and gave the stock a "buy" rating in a report on Monday, July 22nd. StockNews.com lowered shares of Lithia Motors from a "hold" rating to a "sell" rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. boosted their price objective on Lithia Motors from $280.00 to $315.00 and gave the stock an "overweight" rating in a report on Tuesday, August 6th. Finally, Wells Fargo & Company lifted their price target on Lithia Motors from $266.00 to $302.00 and gave the company an "equal weight" rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, Lithia Motors has a consensus rating of "Hold" and an average target price of $321.50.

Read Our Latest Report on LAD

Lithia Motors Company Profile

(Free Report)

Lithia Motors, Inc operates as an automotive retailer worldwide. It operates in two segments, Vehicle Operations and Financing Operations. The company's Vehicle Operations segment sells new and used vehicles; provides parts, repair, and maintenance services; vehicle finance; and insurance products.

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