Trust Co. of Toledo NA OH Lowers Stock Holdings in Stellantis (NYSE:STLA)

Trust Co. of Toledo NA OH reduced its stake in Stellantis (NYSE:STLA) by 10.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 37,838 shares of the company’s stock after selling 4,343 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Stellantis were worth $751,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Stellantis in the 4th quarter valued at approximately $832,785,000. Capital International Investors raised its holdings in Stellantis by 329.3% during the first quarter. Capital International Investors now owns 22,503,781 shares of the company’s stock worth $639,609,000 after purchasing an additional 17,261,955 shares during the last quarter. Capital World Investors raised its holdings in Stellantis by 63.4% during the first quarter. Capital World Investors now owns 13,756,552 shares of the company’s stock worth $390,811,000 after purchasing an additional 5,336,868 shares during the last quarter. M&G Plc acquired a new position in Stellantis during the first quarter worth $128,254,000. Finally, TOMS Capital Investment Management LP acquired a new position in Stellantis during the fourth quarter worth $106,339,000. 59.48% of the stock is currently owned by hedge funds and other institutional investors.

Stellantis Stock Down 1.1 %

Shares of STLA traded down $0.17 during midday trading on Tuesday, reaching $15.57. 8,672,779 shares of the company were exchanged, compared to its average volume of 6,232,325. The stock has a 50-day moving average price of $19.94 and a 200-day moving average price of $23.21. Stellantis has a 1-year low of $15.29 and a 1-year high of $29.51. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 0.26.

Analysts Set New Price Targets

STLA has been the subject of several research reports. Nomura Securities raised Stellantis from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 31st. Morgan Stanley raised their price target on Stellantis from $26.00 to $30.40 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Deutsche Bank Aktiengesellschaft downgraded Stellantis from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Barclays raised Stellantis to a “strong-buy” rating in a research report on Monday, June 17th. Finally, Sanford C. Bernstein started coverage on Stellantis in a research report on Friday, June 28th. They issued a “market perform” rating and a $23.50 price objective for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.97.

Stellantis Company Profile

Stellantis N.V. engages in the design, engineering, manufacturing, distribution, and sale of automobiles and light commercial vehicles, engines, transmission systems, metallurgical products, mobility services, and production systems worldwide. It provides luxury and premium vehicles; sport utility vehicles; American and European brand vehicles; and parts and services, as well as retail and dealer financing, leasing, and rental services.