PNC Financial Services Group Inc. cut its position in Dana Inc (NYSE:DAN) by 92.5% during the second quarter, Holdings Channel reports. The firm owned 24,679 shares of the auto parts company’s stock after selling 303,691 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Dana were worth $499,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of Dana by 12.1% in the 2nd quarter. BlackRock Inc. now owns 18,788,509 shares of the auto parts company’s stock valued at $379,339,000 after buying an additional 2,022,490 shares during the last quarter. Wedge Capital Management L L P NC grew its position in shares of Dana by 3.9% in the 2nd quarter. Wedge Capital Management L L P NC now owns 5,787,409 shares of the auto parts company’s stock valued at $116,848,000 after buying an additional 219,373 shares during the last quarter. TCW Group Inc. grew its position in shares of Dana by 3.2% in the 2nd quarter. TCW Group Inc. now owns 3,574,902 shares of the auto parts company’s stock valued at $72,177,000 after buying an additional 109,821 shares during the last quarter. LSV Asset Management grew its position in shares of Dana by 21.8% in the 2nd quarter. LSV Asset Management now owns 2,303,746 shares of the auto parts company’s stock valued at $46,512,000 after buying an additional 411,821 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in shares of Dana by 15.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,552,146 shares of the auto parts company’s stock valued at $31,338,000 after buying an additional 204,738 shares during the last quarter. 93.88% of the stock is currently owned by institutional investors.

Shares of NYSE DAN opened at $19.48 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 1.63 and a debt-to-equity ratio of 1.41. Dana Inc has a 52 week low of $18.08 and a 52 week high of $35.27. The stock has a market capitalization of $2.95 billion, a P/E ratio of 7.56, a P/E/G ratio of 5.46 and a beta of 1.71.

Dana (NYSE:DAN) last announced its quarterly earnings data on Wednesday, July 25th. The auto parts company reported $0.74 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by ($0.04). Dana had a net margin of 2.51% and a return on equity of 32.56%. The company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2 billion. During the same quarter last year, the business earned $0.68 EPS. The firm’s revenue for the quarter was up 11063.0% on a year-over-year basis. research analysts anticipate that Dana Inc will post 2.95 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 31st. Shareholders of record on Friday, August 10th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, August 9th. This represents a $0.40 annualized dividend and a yield of 2.05%. Dana’s dividend payout ratio (DPR) is currently 15.87%.

DAN has been the topic of a number of recent analyst reports. Bank of America initiated coverage on shares of Dana in a research report on Friday, June 1st. They issued a “buy” rating and a $28.00 target price on the stock. ValuEngine downgraded shares of Dana from a “hold” rating to a “sell” rating in a research report on Saturday, June 2nd. Zacks Investment Research cut shares of Dana from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 3rd. Royal Bank of Canada reiterated a “buy” rating and set a $30.00 price target on shares of Dana in a research note on Tuesday, July 17th. Finally, Barclays upgraded shares of Dana from an “equal weight” rating to an “overweight” rating and set a $30.00 price target for the company in a research note on Thursday, July 26th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $27.67.

About Dana

Dana Incorporated provides drive and motion products, sealing solutions, thermal-management technologies, and fluid-power products to vehicle and engine manufacturer in North America, Europe, South America, and the Asia Pacific. The company operates in four segments: Light Vehicle Driveline Technologies, Commercial Vehicle Driveline Technologies, Off-Highway Driveline Technologies, and Power Technologies.

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Institutional Ownership by Quarter for Dana (NYSE:DAN)

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