Susquehanna Bancshares upgraded shares of Dana (NYSE:DAN) from a negative rating to a neutral rating in a research report report published on Friday, Marketbeat.com reports. Susquehanna Bancshares currently has $29.00 price objective on the auto parts company’s stock, up from their previous price objective of $25.00.
A number of other analysts have also recently issued reports on the company. Deutsche Bank lifted their price objective on Dana from $24.00 to $30.00 and gave the company a hold rating in a research report on Friday, November 17th. Zacks Investment Research raised Dana from a hold rating to a buy rating and set a $33.00 price objective for the company in a research report on Tuesday, February 6th. Barclays reissued a hold rating and set a $32.00 price objective on shares of Dana in a research report on Tuesday, January 9th. TheStreet cut Dana from a b rating to a c rating in a research report on Tuesday, February 13th. Finally, Guggenheim set a $36.00 price objective on Dana and gave the company a buy rating in a research report on Wednesday, February 14th. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Dana currently has an average rating of Hold and an average price target of $30.45.
Shares of Dana (NYSE DAN) opened at $26.14 on Friday. The company has a market capitalization of $3,790.00, a price-to-earnings ratio of 13.14 and a beta of 1.79. The company has a quick ratio of 1.12, a current ratio of 1.69 and a debt-to-equity ratio of 1.58. Dana has a 12-month low of $17.53 and a 12-month high of $35.27.
Dana announced that its Board of Directors has authorized a share repurchase program on Wednesday, January 17th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the auto parts company to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Friday, March 2nd will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.53%. This is a boost from Dana’s previous quarterly dividend of $0.06. Dana’s payout ratio is currently 20.10%.
In other Dana news, EVP Mark E. Wallace sold 40,339 shares of the business’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $33.42, for a total value of $1,348,129.38. Following the completion of the sale, the executive vice president now owns 108,139 shares of the company’s stock, valued at $3,614,005.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Aziz Aghili sold 12,624 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $33.12, for a total value of $418,106.88. Following the completion of the sale, the insider now directly owns 18,024 shares of the company’s stock, valued at approximately $596,954.88. The disclosure for this sale can be found here. Insiders sold 86,207 shares of company stock valued at $2,870,602 in the last ninety days. Insiders own 1.60% of the company’s stock.
Several large investors have recently made changes to their positions in DAN. Crossmark Global Holdings Inc. acquired a new stake in shares of Dana in the third quarter worth about $524,000. Chicago Equity Partners LLC lifted its position in shares of Dana by 178.5% in the third quarter. Chicago Equity Partners LLC now owns 92,910 shares of the auto parts company’s stock worth $2,598,000 after buying an additional 59,555 shares during the last quarter. USA Financial Portformulas Corp bought a new position in shares of Dana in the third quarter worth about $563,000. Principal Financial Group Inc. increased its stake in shares of Dana by 5.6% in the third quarter. Principal Financial Group Inc. now owns 1,033,375 shares of the auto parts company’s stock worth $28,893,000 after purchasing an additional 54,474 shares during the period. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Dana by 194.8% in the third quarter. BNP Paribas Arbitrage SA now owns 242,083 shares of the auto parts company’s stock worth $6,769,000 after purchasing an additional 159,973 shares during the period. 97.96% of the stock is owned by institutional investors.
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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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