Harel Insurance Investments & Financial Services Ltd. Cuts Position in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)

Harel Insurance Investments & Financial Services Ltd. lessened its stake in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) by 22.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 6,902 shares of the auto parts company’s stock after selling 1,963 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in American Axle & Manufacturing were worth $61,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in AXL. FMR LLC grew its stake in American Axle & Manufacturing by 60,578.4% in the 2nd quarter. FMR LLC now owns 4,169,820 shares of the auto parts company’s stock valued at $31,398,000 after acquiring an additional 4,162,948 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in American Axle & Manufacturing by 804.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,835,148 shares of the auto parts company’s stock valued at $13,819,000 after acquiring an additional 1,632,158 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in American Axle & Manufacturing in the 4th quarter valued at about $14,167,000. Barclays PLC grew its stake in American Axle & Manufacturing by 522.6% in the 3rd quarter. Barclays PLC now owns 1,122,458 shares of the auto parts company’s stock valued at $8,149,000 after acquiring an additional 942,186 shares during the last quarter. Finally, Norges Bank acquired a new stake in American Axle & Manufacturing in the 4th quarter valued at about $7,125,000. Hedge funds and other institutional investors own 91.41% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on AXL. StockNews.com raised shares of American Axle & Manufacturing from a “hold” rating to a “buy” rating in a research note on Monday, April 8th. UBS Group raised shares of American Axle & Manufacturing from a “sell” rating to a “neutral” rating and set a $7.00 price target on the stock in a research note on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, American Axle & Manufacturing currently has an average rating of “Hold” and a consensus price target of $7.70.

American Axle & Manufacturing Price Performance

American Axle & Manufacturing stock opened at $7.02 on Wednesday. The stock has a market capitalization of $824.54 million, a P/E ratio of -25.05, a P/E/G ratio of 2.87 and a beta of 2.22. American Axle & Manufacturing Holdings, Inc. has a 12-month low of $6.29 and a 12-month high of $9.55. The company has a debt-to-equity ratio of 4.55, a current ratio of 1.67 and a quick ratio of 1.27. The firm’s 50-day moving average is $7.24 and its two-hundred day moving average is $7.47.

American Axle & Manufacturing (NYSE:AXL) last announced its quarterly earnings data on Friday, February 16th. The auto parts company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.10. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.42 billion. American Axle & Manufacturing had a negative net margin of 0.55% and a negative return on equity of 1.78%. The company’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.07) EPS. Equities analysts predict that American Axle & Manufacturing Holdings, Inc. will post 0.3 earnings per share for the current year.

About American Axle & Manufacturing

American Axle & Manufacturing Holdings, Inc, together with its subsidiaries, designs, engineers, and manufactures driveline and metal forming technologies that supports electric, hybrid, and internal combustion vehicles. It operates through two segments, Driveline and Metal Forming segments. The Driveline segment offers front and rear axles, driveshafts, differential assemblies, clutch modules, balance shaft systems, disconnecting driveline technology, and electric and hybrid driveline products and systems for light trucks, sport utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.