Northern Trust Corp Has $12.39 Million Position in Stellantis N.V. $STLA

Key Points

• Northern Trust Corp has reduced its stake in Stellantis N.V. by 24.4%, now holding over 1.1 million shares valued at approximately $12.4 million.
• Recent analyst reports show mixed reviews for Stellantis, with Jefferies upgrading it to a "buy" rating, while Zacks and Bank of America have issued "strong sell" and "neutral" ratings, respectively.
• Stellantis' stock is currently trading around $9.08, with a 12-month trading range between $8.39 and $16.29, and a market capitalization of $27.44 billion.

Northern Trust Corp reduced its stake in shares of Stellantis N.V. (NYSE:STLA - Free Report) by 24.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,104,921 shares of the company's stock after selling 356,872 shares during the quarter. Northern Trust Corp's holdings in Stellantis were worth $12,386,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Corient IA LLC bought a new position in shares of Stellantis during the 1st quarter worth about $123,000. LGT Fund Management Co Ltd. grew its position in Stellantis by 12.6% during the first quarter. LGT Fund Management Co Ltd. now owns 355,041 shares of the company's stock worth $3,980,000 after buying an additional 39,777 shares in the last quarter. Prudential PLC acquired a new stake in Stellantis during the first quarter worth about $557,000. HighTower Advisors LLC increased its stake in Stellantis by 23.3% during the first quarter. HighTower Advisors LLC now owns 39,431 shares of the company's stock valued at $442,000 after acquiring an additional 7,457 shares during the period. Finally, Public Sector Pension Investment Board raised its holdings in Stellantis by 11.3% in the 1st quarter. Public Sector Pension Investment Board now owns 1,097,691 shares of the company's stock valued at $12,168,000 after acquiring an additional 111,672 shares in the last quarter. 59.48% of the stock is owned by institutional investors.

Stellantis Stock Performance

Shares of NYSE STLA traded up $0.01 during trading hours on Friday, reaching $9.09. The stock had a trading volume of 11,698,669 shares, compared to its average volume of 10,834,809. The business's fifty day moving average is $9.63 and its two-hundred day moving average is $10.30. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.06 and a quick ratio of 0.77. The company has a market cap of $27.47 billion, a price-to-earnings ratio of 2.66, a PEG ratio of 0.54 and a beta of 1.46. Stellantis N.V. has a twelve month low of $8.39 and a twelve month high of $16.29.

Analyst Ratings Changes

Several equities analysts have commented on the company. Jefferies Financial Group raised Stellantis from a "hold" rating to a "buy" rating and upped their price target for the company from $10.25 to $13.20 in a report on Wednesday, June 25th. Wolfe Research lowered Stellantis from a "peer perform" rating to an "underperform" rating in a research note on Wednesday, July 2nd. Zacks Research lowered Stellantis from a "hold" rating to a "strong sell" rating in a research note on Monday, August 25th. Finally, Bank of America lowered Stellantis from a "buy" rating to a "neutral" rating and cut their target price for the company from $16.50 to $11.75 in a research note on Monday, July 7th. One analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus price target of $12.74.

Stellantis Company Profile

Stellantis N.V. engages in the design, engineering, manufacturing, distribution, and sale of automobiles and light commercial vehicles, engines, transmission systems, metallurgical products, mobility services, and production systems worldwide. It provides luxury and premium vehicles; sport utility vehicles; American and European brand vehicles; and parts and services, as well as retail and dealer financing, leasing, and rental services.