BlackRock Inc. Purchases 691,165 Shares of Honda Motor Co., Ltd. $HMC

Key Points

• BlackRock increased its Honda Motor stake by 35.2% in the second quarter, buying 691,165 additional shares to hold 2.66 million shares worth approximately $72 million, or 0.17% of the company.
• Honda reported quarterly revenue of $37.27 billion and earnings of $2.14 per share, but posted a negative net margin of 0.73% and negative return on equity of 1.30%.
• Analyst sentiment remains mixed, with ratings ranging from strong buy to sell; the overall consensus is “Hold”, with a $25 target price versus Honda’s reported share price of $31.91.

BlackRock Inc. boosted its position in shares of Honda Motor Co., Ltd. (NYSE:HMC - Free Report) by 35.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,655,980 shares of the company's stock after acquiring an additional 691,165 shares during the quarter. BlackRock Inc. owned 0.17% of Honda Motor worth $72,004,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. WealthCollab LLC boosted its stake in shares of Honda Motor by 66.2% during the 2nd quarter. WealthCollab LLC now owns 916 shares of the company's stock worth $26,000 after acquiring an additional 365 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Honda Motor in the 3rd quarter worth $26,000. Newbridge Financial Services Group Inc. bought a new position in Honda Motor in the 2nd quarter worth $29,000. Financial Management Professionals Inc. lifted its position in Honda Motor by 38.2% during the second quarter. Financial Management Professionals Inc. now owns 1,873 shares of the company's stock valued at $51,000 after purchasing an additional 518 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in Honda Motor by 121.2% during 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 during the period. Institutional investors own 5.32% of the company's stock.

Honda Motor Price Performance

Honda Motor stock opened at $31.91 on Monday. Honda Motor Co., Ltd. has a 52-week low of $23.25 and a 52-week high of $34.89. The company has a quick ratio of 1.04, a current ratio of 1.29 and a debt-to-equity ratio of 0.69. The firm's fifty day moving average is $29.47 and its 200 day moving average is $27.46. The company has a market cap of $49.81 billion, a price-to-earnings ratio of -45.59 and a beta of 0.42.

Honda Motor (NYSE:HMC - Get Free Report) last released its earnings results 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 firm had revenue of $37.27 billion for the quarter. Sell-side analysts forecast that Honda Motor Co., Ltd. will post 2.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Weiss Ratings lowered shares of Honda Motor from a "sell (d+)" rating to a "sell (d)" rating in a report on Wednesday, June 3rd. Wall Street Zen raised shares of Honda Motor from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Finally, Zacks Research upgraded shares of Honda Motor from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 17th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $25.00.

Honda Motor Company Profile

Honda Motor Co, Ltd. is a global manufacturer and mobility company headquartered in Minato, Tokyo, Japan, founded in 1948 by Soichiro Honda and Takeo Fujisawa. The company's core businesses include the design, manufacture and sale of automobiles and motorcycles, along with a diverse portfolio of power products, engines and related components. Honda also operates in aviation through Honda Aircraft Company and offers financial services that support vehicle sales and leasing.

In automobiles, Honda is known for a range of passenger cars, crossovers and light trucks, and in motorcycles it is one of the world's leading producers by volume and model breadth.

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