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

Harfst & Associates Inc. raised its position in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 392.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,786 shares of the company's stock after purchasing an additional 27,726 shares during the quarter. Lithia Motors accounts for about 2.5% of Harfst & Associates Inc.'s investment portfolio, making the stock its 6th largest position. Harfst & Associates Inc. owned approximately 0.13% of Lithia Motors worth $11,049,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in shares of Lithia Motors during the third quarter worth about $35,000. Blue Trust Inc. raised its position in shares of Lithia Motors by 83.6% during the second quarter. Blue Trust Inc. now owns 134 shares of the company's stock valued at $34,000 after buying an additional 61 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new position in shares of Lithia Motors in the fourth quarter worth $67,000. McClarren Financial Advisors Inc. boosted its position in shares of Lithia Motors by 12,500.0% during the second quarter. McClarren Financial Advisors Inc. now owns 252 shares of the company's stock worth $64,000 after acquiring an additional 250 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Lithia Motors during the second quarter valued at $80,000.

Lithia Motors Trading Down 0.5 %

Lithia Motors stock traded down $1.49 during midday trading on Friday, reaching $313.88. The stock had a trading volume of 144,369 shares, compared to its average volume of 252,199. Lithia Motors, Inc. has a 52-week low of $231.36 and a 52-week high of $331.96. The company has a fifty day moving average of $296.09 and a 200 day moving average of $273.72. The firm has a market cap of $8.60 billion, a price-to-earnings ratio of 9.27, a price-to-earnings-growth ratio of 0.30 and a beta of 1.64. The company has a quick ratio of 0.30, a current ratio of 1.19 and a debt-to-equity ratio of 1.26.

Lithia Motors (NYSE:LAD - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The company reported $7.87 earnings per share for the quarter, topping the consensus estimate of $7.09 by $0.78. The firm had revenue of $9.23 billion for the quarter, compared to the consensus estimate of $9.29 billion. Lithia Motors had a return on equity of 13.84% and a net margin of 2.52%. The company's revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the prior year, the business posted $10.91 earnings per share. On average, analysts anticipate that Lithia Motors, Inc. will post 28.74 earnings per share for the current fiscal year.

Lithia Motors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.68%. The ex-dividend date was Friday, August 9th. Lithia Motors's dividend payout ratio is presently 6.26%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Bank of America increased their price objective on shares of Lithia Motors from $320.00 to $330.00 and gave the company a "buy" rating in a report on Monday, July 22nd. Morgan Stanley upgraded Lithia Motors from an "underweight" rating to an "equal weight" rating and raised their price target for the company from $225.00 to $310.00 in a report on Wednesday, September 25th. Wells Fargo & Company lowered their target price on Lithia Motors from $302.00 to $299.00 and set an "equal weight" rating for the company in a research report on Tuesday. Citigroup boosted their price target on shares of Lithia Motors from $280.00 to $320.00 and gave the stock a "neutral" rating in a research report on Friday, September 27th. Finally, Guggenheim upgraded shares of Lithia Motors from a "neutral" rating to a "buy" rating and set a $338.00 price objective for the company in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $337.70.

Insider Activity at Lithia Motors

In related news, Director Shauna Mcintyre sold 306 shares of the business's stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $289.65, for a total value of $88,632.90. Following the completion of the sale, the director now owns 1,922 shares in the company, valued at approximately $556,707.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Shauna Mcintyre sold 306 shares of Lithia Motors stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $289.65, for a total value of $88,632.90. Following the completion of the sale, the director now directly owns 1,922 shares in the company, valued at $556,707.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Sidney B. Deboer sold 10,777 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $275.93, for a total transaction of $2,973,697.61. Following the transaction, the director now owns 35,352 shares in the company, valued at approximately $9,754,677.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,021 shares of company stock worth $6,534,617 in the last 90 days. 1.79% of the stock is owned by corporate insiders.

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.