Oppenheimer Asset Management Inc. Lowers Stock Holdings in Honda Motor Co., Ltd. $HMC

Key Points

• Oppenheimer Asset Management reduced its Honda Motor holdings by 63.4% in the second quarter, selling 36,801 shares and retaining 21,211 shares valued at approximately $575,000.
• Honda shares opened at $31.85, up 0.9%, while the company reported quarterly revenue of $37.27 billion and earnings of $2.14 per share. Analysts expect approximately $1.30 in full-year EPS.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $25.00, below the stock’s reported trading price.

Oppenheimer Asset Management Inc. cut its holdings in Honda Motor Co., Ltd. (NYSE:HMC - Free Report) by 63.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,211 shares of the company's stock after selling 36,801 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Honda Motor were worth $575,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Financial Management Professionals Inc. lifted its position in shares of 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. Cooper Financial Group purchased a new stake in Honda Motor in the 2nd quarter worth $205,000. GAMMA Investing LLC raised its position in Honda Motor by 23.5% during the second quarter. GAMMA Investing LLC now owns 5,685 shares of the company's stock worth $154,000 after acquiring an additional 1,082 shares during the period. Versant Capital Management Inc raised its position in Honda Motor by 34.1% during the second quarter. Versant Capital Management Inc now owns 15,422 shares of the company's stock worth $418,000 after acquiring an additional 3,918 shares during the period. Finally, Empowered Funds LLC purchased a new position in Honda Motor during the first quarter valued at $258,000. 5.32% of the stock is currently owned by hedge funds and other institutional investors.

Honda Motor Stock Up 0.9%

Shares of HMC opened at $31.85 on Tuesday. Honda Motor Co., Ltd. has a 52-week low of $23.25 and a 52-week high of $34.89. The company has a market capitalization of $49.71 billion, a PE ratio of -45.50 and a beta of 0.42. The stock has a fifty day simple moving average of $28.47 and a two-hundred day simple moving average of $27.39. The company has a quick ratio of 1.04, a current ratio of 1.29 and a debt-to-equity ratio of 0.69.

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. Honda Motor had a negative return on equity of 1.30% and a negative net margin of 0.73%.The business had revenue of $37.27 billion for the quarter. As a group, equities analysts forecast that Honda Motor Co., Ltd. will post 1.3 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on HMC shares. Wall Street Zen upgraded shares of Honda Motor from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Zacks Research upgraded shares of Honda Motor from a "strong sell" rating to a "hold" rating in a research report on Friday, June 19th. Finally, Weiss Ratings lowered shares of Honda Motor from a "sell (d+)" rating to a "sell (d)" rating in a research note on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target 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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