Summit Global Investments Reduces Stock Position in Honda Motor Co., Ltd. (NYSE:HMC)

Summit Global Investments trimmed its position in Honda Motor Co., Ltd. (NYSE:HMC - Free Report) by 70.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,945 shares of the company's stock after selling 77,642 shares during the period. Summit Global Investments' holdings in Honda Motor were worth $867,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Asset Planning Inc purchased a new position in Honda Motor in the 4th quarter valued at $25,000. Murphy & Mullick Capital Management Corp purchased a new position in Honda Motor in the 4th quarter valued at $26,000. R Squared Ltd purchased a new position in Honda Motor in the 4th quarter valued at $30,000. Manchester Capital Management LLC purchased a new position in Honda Motor in the 4th quarter valued at $40,000. Finally, National Bank of Canada FI grew its position in Honda Motor by 277.7% in the 4th quarter. National Bank of Canada FI now owns 1,809 shares of the company's stock valued at $52,000 after buying an additional 1,330 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 analysts recently weighed in on HMC shares. Sanford C. Bernstein began coverage on shares of Honda Motor in a research report on Monday, April 14th. They issued a "market perform" rating on the stock. Wall Street Zen downgraded Honda Motor from a "hold" rating to a "sell" rating in a report on Saturday, May 24th. Finally, Dbs Bank downgraded Honda Motor from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 14th.

Honda Motor Price Performance

Honda Motor stock traded down $0.59 during midday trading on Wednesday, reaching $29.49. The company's stock had a trading volume of 290,110 shares, compared to its average volume of 1,058,265. Honda Motor Co., Ltd. has a fifty-two week low of $23.41 and a fifty-two week high of $33.72. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.10 and a current ratio of 1.38. The stock's 50 day simple moving average is $28.98 and its 200 day simple moving average is $28.20. The firm has a market capitalization of $46.03 billion, a PE ratio of 6.86 and a beta of 0.54.

Honda Motor (NYSE:HMC - Get Free Report) last released its earnings results on Tuesday, May 13th. The company reported $0.18 EPS for the quarter, missing analysts' consensus estimates of $0.72 by ($0.54). The business had revenue of $36.25 billion during the quarter, compared to analyst estimates of $5,371.99 billion. Honda Motor had a net margin of 4.76% and a return on equity of 7.81%. On average, equities research analysts forecast that Honda Motor Co., Ltd. will post 3.99 earnings per share for the current year.

Honda Motor 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.