First Trust Direct Indexing L.P. Raises Position in Stellantis (NYSE:STLA)

First Trust Direct Indexing L.P. boosted its holdings in Stellantis (NYSE:STLA) by 3.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 64,363 shares of the company’s stock after buying an additional 2,283 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Stellantis were worth $1,821,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in STLA. Vanguard Group Inc. lifted its position in shares of Stellantis by 10.5% during the third quarter. Vanguard Group Inc. now owns 83,232,805 shares of the company’s stock worth $1,592,244,000 after purchasing an additional 7,883,816 shares in the last quarter. Norges Bank bought a new stake in Stellantis in the fourth quarter valued at about $832,785,000. Dimensional Fund Advisors LP lifted its stake in Stellantis by 2.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,514,872 shares of the company’s stock worth $175,249,000 after purchasing an additional 214,654 shares during the last quarter. TOMS Capital Investment Management LP bought a new stake in Stellantis during the fourth quarter valued at $106,339,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Stellantis by 11.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 2,999,088 shares of the company’s stock worth $70,161,000 after purchasing an additional 300,486 shares during the period. 59.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on STLA. Sanford C. Bernstein started coverage on shares of Stellantis in a report on Friday, June 28th. They issued a “market perform” rating and a $23.50 price target for the company. Berenberg Bank reissued a “hold” rating on shares of Stellantis in a report on Tuesday, March 26th. Nomura restated a “neutral” rating on shares of Stellantis in a research note on Wednesday, March 13th. Barclays upgraded Stellantis to a “strong-buy” rating in a research note on Monday, June 17th. Finally, Morgan Stanley upped their price target on shares of Stellantis from $26.00 to $30.40 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Stellantis currently has an average rating of “Moderate Buy” and a consensus price target of $29.55.

Stellantis Price Performance

STLA stock opened at $19.87 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.24. The firm has a 50 day simple moving average of $21.65 and a 200 day simple moving average of $23.84. Stellantis has a 52 week low of $17.19 and a 52 week high of $29.51.

Stellantis Dividend Announcement

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

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.