Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP raised its position in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) by 35.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 579,054 shares of the communications equipment provider's stock after purchasing an additional 153,084 shares during the period. Quantinno Capital Management LP's holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $4,389,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC lifted its stake in Telefonaktiebolaget LM Ericsson (publ) by 131.2% in the second quarter. GAMMA Investing LLC now owns 5,464 shares of the communications equipment provider's stock worth $34,000 after acquiring an additional 3,101 shares during the period. BOKF NA purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the 2nd quarter worth approximately $41,000. Hexagon Capital Partners LLC boosted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 225.5% during the third quarter. Hexagon Capital Partners LLC now owns 5,664 shares of the communications equipment provider's stock valued at $43,000 after purchasing an additional 3,924 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Telefonaktiebolaget LM Ericsson (publ) by 37.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 9,029 shares of the communications equipment provider's stock valued at $56,000 after buying an additional 2,458 shares during the period. Finally, Vest Financial LLC bought a new position in Telefonaktiebolaget LM Ericsson (publ) in the third quarter worth approximately $77,000. 7.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. StockNews.com raised Telefonaktiebolaget LM Ericsson (publ) from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. lifted their target price on Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the company a "neutral" rating in a research note on Monday, October 21st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Telefonaktiebolaget LM Ericsson (publ) has an average rating of "Hold" and a consensus target price of $6.70.

Telefonaktiebolaget LM Ericsson (publ) Stock Down 1.4 %

Shares of ERIC stock traded down $0.12 during trading hours on Friday, reaching $8.33. 11,704,485 shares of the company's stock were exchanged, compared to its average volume of 17,519,274. The company has a current ratio of 1.19, a quick ratio of 0.95 and a debt-to-equity ratio of 0.39. The company has a market cap of $27.76 billion, a price-to-earnings ratio of -277.67 and a beta of 0.79. Telefonaktiebolaget LM Ericsson has a fifty-two week low of $4.77 and a fifty-two week high of $8.62. The stock's 50 day moving average is $8.11 and its 200-day moving average is $7.19.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last issued its quarterly earnings results on Tuesday, October 15th. The communications equipment provider reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.02. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 13.31% and a negative net margin of 0.47%. The business had revenue of $5.93 billion during the quarter, compared to the consensus estimate of $5.73 billion. Analysts predict that Telefonaktiebolaget LM Ericsson will post 0.44 earnings per share for the current fiscal year.

About Telefonaktiebolaget LM Ericsson (publ)

Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides mobile connectivity solutions for telcom operators and enterprise customers in various sectors in North America, Europe, Latin America, the Middle East, Africa, North East Asia, South East Asia, Oceania, and India. It operates in four segments: Networks; Cloud Software and Services; Enterprise; and Other.