235,163 Honda Motor Co., Ltd. $HMC Shares Sold by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management cut its Honda Motor stake by 36.3% in the second quarter, selling 235,163 shares and retaining 411,983 shares valued at approximately $11.17 million.
• Several other institutional investors increased their Honda holdings, although institutional ownership remains relatively low at 5.32% of outstanding shares.
• Honda shares opened at $31.61, near their 52-week high, while analysts maintain a “Moderate Buy” consensus with an average price target of $34.00; recent ratings ranged from “Strong Buy” to “Sell.”

Envestnet Asset Management Inc. reduced its stake in shares of Honda Motor Co., Ltd. (NYSE:HMC - Free Report) by 36.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 411,983 shares of the company's stock after selling 235,163 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Honda Motor were worth $11,168,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in HMC. Financial Management Professionals Inc. lifted its holdings in Honda Motor by 38.2% during the 2nd quarter. Financial Management Professionals Inc. now owns 1,873 shares of the company's stock valued at $51,000 after buying an additional 518 shares in the last quarter. Manchester Capital Management LLC boosted its position in Honda Motor by 82.1% in the 4th quarter. Manchester Capital Management LLC now owns 2,720 shares of the company's stock valued at $80,000 after buying an additional 1,226 shares during the period. State of Wyoming grew its stake in Honda Motor by 17.4% in the 1st quarter. State of Wyoming now owns 3,609 shares of the company's stock worth $88,000 after acquiring an additional 536 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in Honda Motor by 268.8% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 3,968 shares of the company's stock worth $108,000 after acquiring an additional 2,892 shares in the last quarter. Finally, TD Waterhouse Canada Inc. increased its position in shares of Honda Motor by 674.5% during the second quarter. TD Waterhouse Canada Inc. now owns 4,593 shares of the company's stock worth $125,000 after acquiring an additional 4,000 shares during the period. 5.32% of the stock is currently owned by institutional investors.

Honda Motor Trading Up 0.0%

Shares of NYSE HMC opened at $31.61 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.29 and a quick ratio of 1.04. The stock has a market capitalization of $49.34 billion, a P/E ratio of -45.16 and a beta of 0.46. Honda Motor Co., Ltd. has a 1-year low of $23.25 and a 1-year high of $33.44. The business has a fifty day moving average price of $31.67 and a 200 day moving average price of $27.92.

Honda Motor (NYSE:HMC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 1st. The company reported $2.14 earnings per share for the quarter. Honda Motor had a negative return on equity of 1.30% and a negative net margin of 0.73%.The company had revenue of $37.27 billion for the quarter. Equities research analysts expect that Honda Motor Co., Ltd. will post 2.25 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. BNP Paribas Exane initiated coverage on shares of Honda Motor in a research note on Friday, September 18th. They set a "neutral" rating and a $34.00 price target for the company. Wall Street Zen raised Honda Motor from a "hold" rating to a "buy" rating in a research note on Saturday, September 19th. Zacks Research upgraded Honda Motor from a "hold" rating to a "strong-buy" rating in a report on Monday, August 17th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Honda Motor in a research report on Monday, August 31st. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $34.00.

Honda Motor Profile

Honda Motor Co, Ltd. is a Japanese manufacturer of automobiles, motorcycles and power products. The company's automotive lineup includes passenger cars, sport utility vehicles, light trucks and electric vehicles sold primarily under the Honda brand, as well as luxury vehicles marketed through its Acura brand in select markets.

Honda also develops and sells motorcycles, all-terrain vehicles, generators, lawn and garden equipment, marine engines and other power products. Through Honda Aircraft Company, it produces HondaJet light business aircraft.

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