Mitsubishi UFJ Asset Management Co. Ltd. Cuts Position in Stellantis (NYSE:STLA)

Mitsubishi UFJ Asset Management Co. Ltd. lowered its stake in Stellantis (NYSE:STLA - Free Report) by 22.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 135,981 shares of the company's stock after selling 38,450 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in Stellantis were worth $3,026,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cary Street Partners Investment Advisory LLC bought a new stake in shares of Stellantis in the 3rd quarter worth about $26,000. Bruce G. Allen Investments LLC purchased a new stake in Stellantis during the fourth quarter valued at approximately $40,000. Solstein Capital LLC purchased a new stake in Stellantis during the fourth quarter valued at approximately $50,000. Smithfield Trust Co lifted its stake in shares of Stellantis by 23.0% in the 3rd quarter. Smithfield Trust Co now owns 3,589 shares of the company's stock valued at $69,000 after purchasing an additional 670 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of Stellantis during the 3rd quarter valued at approximately $88,000. Institutional investors own 59.48% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on STLA shares. Wolfe Research began coverage on shares of Stellantis in a research report on Thursday, February 1st. They set an "outperform" rating on the stock. Berenberg Bank reissued a "hold" rating on shares of Stellantis in a research note on Tuesday, March 26th. Morgan Stanley upped their target price on Stellantis from $26.00 to $30.40 and gave the company an "overweight" rating in a research note on Thursday, April 11th. Nomura reissued a "neutral" rating on shares of Stellantis in a research note on Wednesday, March 13th. Finally, Piper Sandler assumed coverage on Stellantis in a research report on Friday, March 15th. They issued an "overweight" rating and a $39.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $30.28.

Stellantis Trading Down 1.1 %

Shares of NYSE:STLA traded down $0.25 during trading hours on Tuesday, hitting $22.09. The company's stock had a trading volume of 7,365,639 shares, compared to its average volume of 5,745,085. The firm's fifty day moving average price is $25.53 and its 200 day moving average price is $23.86. Stellantis has a 52 week low of $15.07 and a 52 week high of $29.51. The company has a current ratio of 1.24, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24.

Stellantis Dividend Announcement

The firm also recently disclosed an annual dividend, which was paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd were paid a $1.147 dividend. This represents a yield of 4.55%. The ex-dividend date was Monday, April 22nd.

Insider Buying and Selling at Stellantis

In related news, major shareholder N.V. Stellantis purchased 800,000 shares of Stellantis stock in a transaction dated Friday, March 8th. The stock was purchased at an average cost of $4.60 per share, with a total value of $3,680,000.00. Following the transaction, the insider now owns 35,451,720 shares in the company, valued at approximately $163,077,912. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. In the last 90 days, insiders have purchased 3,150,000 shares of company stock valued at $15,724,500. 0.02% of the stock is currently owned by corporate insiders.

Stellantis 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.