State of New Jersey Common Pension Fund D Has $3.20 Million Holdings in Lithia Motors, Inc. (NYSE:LAD)

State of New Jersey Common Pension Fund D decreased its position in Lithia Motors, Inc. (NYSE:LAD) by 4.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 10,087 shares of the company’s stock after selling 449 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Lithia Motors were worth $3,204,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of LAD. Janney Montgomery Scott LLC lifted its stake in Lithia Motors by 34.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 1,114 shares of the company’s stock valued at $335,000 after acquiring an additional 285 shares in the last quarter. Qsemble Capital Management LP bought a new stake in shares of Lithia Motors in the first quarter worth $316,000. First Eagle Investment Management LLC boosted its holdings in Lithia Motors by 53.5% during the first quarter. First Eagle Investment Management LLC now owns 30,890 shares of the company’s stock worth $9,294,000 after purchasing an additional 10,760 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its position in Lithia Motors by 0.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 20,220 shares of the company’s stock valued at $6,084,000 after purchasing an additional 122 shares in the last quarter. Finally, Shell Asset Management Co. increased its stake in Lithia Motors by 114.4% in the 1st quarter. Shell Asset Management Co. now owns 1,908 shares of the company’s stock valued at $574,000 after buying an additional 1,018 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Citigroup upped their target price on Lithia Motors from $280.00 to $320.00 and gave the stock a “neutral” rating in a report on Friday, September 27th. Morgan Stanley raised Lithia Motors from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $225.00 to $310.00 in a report on Wednesday, September 25th. Wells Fargo & Company boosted their target price on shares of Lithia Motors from $299.00 to $343.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Bank of America upped their price objective on Lithia Motors from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, Guggenheim boosted their target price on Lithia Motors from $350.00 to $380.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $353.80.

Insider Buying and Selling

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 shares were sold at an average price of $290.86, for a total value of $3,472,286.68. Following the transaction, the director now directly owns 46,129 shares of the company’s stock, valued at $13,417,080.94. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Lithia Motors 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 value of $3,472,286.68. Following the sale, the director now owns 46,129 shares of the company’s stock, valued at approximately $13,417,080.94. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Chris Holzshu sold 8,520 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $335.21, for a total value of $2,855,989.20. Following the transaction, the chief operating officer now directly owns 32,054 shares of the company’s stock, valued at $10,744,821.34. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,235 shares of company stock valued at $9,301,973 over the last quarter. 1.79% of the stock is owned by company insiders.

Lithia Motors Stock Performance

Shares of NYSE:LAD opened at $370.57 on Wednesday. Lithia Motors, Inc. has a 12-month low of $243.00 and a 12-month high of $388.36. The company’s 50 day moving average price is $314.21 and its two-hundred day moving average price is $283.10. The firm has a market cap of $9.87 billion, a PE ratio of 12.65 and a beta of 1.63. The company has a quick ratio of 0.27, a current ratio of 1.18 and a debt-to-equity ratio of 1.23.

Lithia Motors (NYSE:LAD) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $8.21 EPS for the quarter, topping analysts’ consensus estimates of $7.60 by $0.61. The firm had revenue of $9.22 billion for the quarter, compared to analyst estimates of $9.46 billion. Lithia Motors had a return on equity of 12.95% and a net margin of 2.31%. The company’s revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the company earned $9.25 EPS. Equities research analysts predict that Lithia Motors, Inc. will post 29.09 earnings per share for the current year.

Lithia Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 8th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date is Friday, November 8th. Lithia Motors’s dividend payout ratio (DPR) is presently 7.24%.

Lithia Motors Company Profile

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. Its Financing Operations segment provides financing to customers buying and leasing retail vehicles.