Magna International Inc. (NYSE:MGA) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its position in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 12.5% during the fourth quarter, HoldingsChannel reports. The firm owned 105,395 shares of the company’s stock after selling 15,089 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Magna International were worth $4,404,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Avior Wealth Management LLC lifted its position in shares of Magna International by 2,400.0% during the fourth quarter. Avior Wealth Management LLC now owns 625 shares of the company’s stock worth $26,000 after purchasing an additional 600 shares in the last quarter. Kennebec Savings Bank acquired a new position in shares of Magna International during the third quarter worth $32,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Magna International by 37.2% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,111 shares of the company’s stock worth $46,000 after purchasing an additional 301 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of Magna International by 88.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,113 shares of the company’s stock worth $88,000 after purchasing an additional 992 shares in the last quarter. Finally, Arkadios Wealth Advisors acquired a new position in shares of Magna International during the third quarter worth $216,000. 67.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MGA has been the topic of several recent analyst reports. UBS Group upped their price target on shares of Magna International from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Monday, November 4th. The Goldman Sachs Group cut shares of Magna International from a “neutral” rating to a “sell” rating and cut their price target for the company from $42.00 to $41.00 in a report on Wednesday, December 11th. Wolfe Research raised shares of Magna International from an “underperform” rating to a “peer perform” rating in a report on Thursday, December 5th. CIBC upped their price target on shares of Magna International from $46.00 to $51.00 in a report on Monday, January 13th. Finally, Scotiabank cut their price target on shares of Magna International from $52.00 to $49.00 and set a “sector perform” rating on the stock in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $50.24.

Magna International Trading Up 1.5 %

NYSE:MGA opened at $39.64 on Friday. The stock’s 50 day moving average price is $41.42 and its 200 day moving average price is $41.74. Magna International Inc. has a 52 week low of $35.05 and a 52 week high of $56.12. The company has a market capitalization of $11.21 billion, a P/E ratio of 10.60, a P/E/G ratio of 0.60 and a beta of 1.61. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.77 and a current ratio of 1.14.

Magna International Company Profile

Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.