Legacy Wealth Asset Management LLC Sells 24,755 Shares of Honda Motor Co., Ltd. $HMC

Key Points

• Legacy Wealth Asset Management LLC reduced its holdings in Honda Motor Co., Ltd. by 35.3%, selling 24,755 shares and retaining ownership of 45,390 shares worth approximately $1.3 million.
• Several hedge funds have modified their stakes in Honda, with Gallacher Capital Management and Hexagon Capital Partners increasing their stakes by 2.7% and 17.7%, respectively.
• Analysts have varying ratings on Honda Motor, with one report lowering the stock from a "hold" rating to a "strong sell" rating, demonstrating mixed sentiment among investors.

Legacy Wealth Asset Management LLC trimmed its holdings in Honda Motor Co., Ltd. (NYSE:HMC - Free Report) by 35.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,390 shares of the company's stock after selling 24,755 shares during the quarter. Legacy Wealth Asset Management LLC's holdings in Honda Motor were worth $1,309,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of HMC. Gallacher Capital Management LLC raised its stake in shares of Honda Motor by 2.7% in the second quarter. Gallacher Capital Management LLC now owns 13,314 shares of the company's stock valued at $384,000 after purchasing an additional 354 shares in the last quarter. Hexagon Capital Partners LLC raised its stake in Honda Motor by 17.7% during the first quarter. Hexagon Capital Partners LLC now owns 2,955 shares of the company's stock worth $80,000 after acquiring an additional 444 shares in the last quarter. Integrated Wealth Concepts LLC raised its stake in Honda Motor by 5.8% during the first quarter. Integrated Wealth Concepts LLC now owns 8,552 shares of the company's stock worth $232,000 after acquiring an additional 468 shares in the last quarter. Evergreen Capital Management LLC increased its stake in shares of Honda Motor by 3.9% in the first quarter. Evergreen Capital Management LLC now owns 13,377 shares of the company's stock valued at $363,000 after buying an additional 507 shares in the last quarter. Finally, Harbour Investments Inc. increased its stake in shares of Honda Motor by 9.2% in the first quarter. Harbour Investments Inc. now owns 6,142 shares of the company's stock valued at $167,000 after buying an additional 520 shares in the last quarter. 5.32% of the stock is owned by institutional investors.

Analysts Set New Price Targets

HMC has been the subject of a number of research reports. Weiss Ratings restated a "hold (c+)" rating on shares of Honda Motor in a research note on Tuesday, October 14th. Zacks Research lowered Honda Motor from a "hold" rating to a "strong sell" rating in a research note on Monday, September 1st. Wall Street Zen upgraded Honda Motor from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Macquarie cut Honda Motor from an "outperform" rating to a "neutral" rating in a report on Wednesday, June 25th. Five investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Honda Motor presently has a consensus rating of "Reduce".

Honda Motor Price Performance

Shares of HMC opened at $31.27 on Tuesday. The company has a current ratio of 1.30, a quick ratio of 1.01 and a debt-to-equity ratio of 0.58. Honda Motor Co., Ltd. has a 1 year low of $23.41 and a 1 year high of $34.89. The stock has a market cap of $48.80 billion, a P/E ratio of 10.82, a price-to-earnings-growth ratio of 1.02 and a beta of 0.48. The stock's 50-day moving average price is $32.92 and its two-hundred day moving average price is $30.96.

Honda Motor (NYSE:HMC - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.46. The firm had revenue of $36.22 billion for the quarter, compared to analysts' expectations of $36.04 billion. Honda Motor had a return on equity of 5.03% and a net margin of 2.95%. On average, equities analysts predict that Honda Motor Co., Ltd. will post 3.99 earnings per share for the current year.

Honda Motor Company Profile

Honda Motor Co, Ltd. develops, manufactures, and distributes motorcycles, automobiles, power, and other products in Japan, North America, Europe, Asia, and internationally. It operates through four segments: Motorcycle Business, Automobile Business, Financial Services Business, and Power Product and Other Businesses.

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