Bank of New York Mellon Corp Lowers Position in Honda Motor Co., Ltd. $HMC

Key Points

• Bank of New York Mellon cut its Honda Motor position by 47.2% in the second quarter, selling 37,637 shares and retaining 42,037 shares valued at approximately $1.14 million.
• Honda shares opened at $31.60, up 1%, with a market capitalization of $49.32 billion. The company reported quarterly revenue of $37.27 billion and earnings per share of $2.14.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $25.00 price target, despite Zacks Research upgrading the stock to “Strong Buy.”

Bank of New York Mellon Corp decreased its holdings in shares of Honda Motor Co., Ltd. (NYSE:HMC - Free Report) by 47.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 42,037 shares of the company's stock after selling 37,637 shares during the period. Bank of New York Mellon Corp's holdings in Honda Motor were worth $1,140,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. WealthCollab LLC raised its holdings in shares of Honda Motor by 66.2% in the 2nd quarter. WealthCollab LLC now owns 916 shares of the company's stock valued at $26,000 after acquiring an additional 365 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Honda Motor during the third quarter worth about $26,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Honda Motor during the second quarter worth about $29,000. Financial Management Professionals Inc. increased its position in shares of Honda Motor by 38.2% in the second quarter. Financial Management Professionals Inc. now owns 1,873 shares of the company's stock worth $51,000 after purchasing an additional 518 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in Honda Motor by 121.2% in the first quarter. Geneos Wealth Management Inc. now owns 2,119 shares of the company's stock valued at $57,000 after purchasing an additional 1,161 shares in the last quarter. 5.32% of the stock is currently owned by hedge funds and other institutional investors.

Honda Motor Stock Up 1.0%

Shares of HMC opened at $31.60 on Friday. The firm has a market cap of $49.32 billion, a P/E ratio of -45.14 and a beta of 0.44. The stock has a 50 day simple moving average of $30.45 and a two-hundred day simple moving average of $27.51. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.29 and a quick ratio of 1.04. Honda Motor Co., Ltd. has a 1 year low of $23.25 and a 1 year high of $34.44.

Honda Motor (NYSE:HMC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 1st. The company reported $2.14 EPS for the quarter. The firm had revenue of $37.27 billion for the quarter. Honda Motor had a negative net margin of 0.73% and a negative return on equity of 1.30%. On average, analysts forecast that Honda Motor Co., Ltd. will post 2.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

HMC has been the subject of several research analyst reports. Zacks Research upgraded shares of Honda Motor from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 17th. Wall Street Zen raised shares of Honda Motor from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Honda Motor in a research report on Monday, August 31st. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $25.00.

About Honda Motor

Honda Motor Co, Ltd. is a Japanese mobility and manufacturing company founded in 1948 by Soichiro Honda and Takeo Fujisawa. The company is best known for developing and manufacturing automobiles and motorcycles, and it has built a global presence through research, production and sales operations in Japan and international markets.

Honda's automotive business includes passenger cars, light trucks, hybrid-electric vehicles and battery-electric vehicles under the Honda and Acura brands. The company also produces motorcycles and related power products, including engines, generators, pumps, lawn and garden equipment, and other products used by consumers and businesses.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.