State Street Corp Increases Stock Holdings in Honda Motor Co., Ltd. $HMC

Key Points

• State Street increased its Honda Motor stake by 40.9% in the second quarter, adding 50,102 shares for a total of 172,691 shares valued at approximately $4.7 million.
• Other major investors, including Donald Smith & Co., BlackRock, Bank of America, Equity Investment Corp and First Trust Advisors, also increased or initiated positions. Institutional investors collectively own 5.32% of Honda’s stock.
• Analyst sentiment is broadly positive, with Honda carrying a “Moderate Buy” consensus rating and a $34 average price target. The stock opened at $32.95, near its 52-week high of $33.44.

State Street Corp grew its stake in Honda Motor Co., Ltd. (NYSE:HMC - Free Report) by 40.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 172,691 shares of the company's stock after acquiring an additional 50,102 shares during the quarter. State Street Corp's holdings in Honda Motor were worth $4,685,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Donald Smith & CO. Inc. bought a new stake in Honda Motor during the second quarter valued at about $109,593,000. BlackRock Inc. increased its position in Honda Motor by 35.2% during the 2nd quarter. BlackRock Inc. now owns 2,655,980 shares of the company's stock valued at $72,004,000 after buying an additional 691,165 shares in the last quarter. Bank of America Corp DE increased its position in Honda Motor by 3.6% during the 1st quarter. Bank of America Corp DE now owns 2,834,932 shares of the company's stock valued at $68,917,000 after buying an additional 99,301 shares in the last quarter. Equity Investment Corp raised its stake in Honda Motor by 1.2% in the fourth quarter. Equity Investment Corp now owns 2,302,204 shares of the company's stock valued at $67,869,000 after buying an additional 27,965 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in Honda Motor by 16.5% in the first quarter. First Trust Advisors LP now owns 1,395,747 shares of the company's stock valued at $33,931,000 after buying an additional 197,431 shares during the last quarter. 5.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Honda Motor Stock Up 2.3%

HMC stock opened at $32.95 on Friday. Honda Motor Co., Ltd. has a one year low of $23.25 and a one year high of $33.44. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.04 and a current ratio of 1.29. The firm's fifty day moving average is $31.38 and its 200 day moving average is $27.77. The firm has a market cap of $51.42 billion, a PE ratio of -47.06 and a beta of 0.44.

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 net margin of 0.73% and a negative return on equity of 1.30%. The business had revenue of $37.27 billion during the quarter. On average, research analysts forecast that Honda Motor Co., Ltd. will post 2.11 EPS for the current year.

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.

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