State Street Corp Reduces Stock Holdings in Stellantis (NYSE:STLA)

State Street Corp lessened its holdings in Stellantis (NYSE:STLA) by 1.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 234,602 shares of the company’s stock after selling 4,594 shares during the period. State Street Corp’s holdings in Stellantis were worth $3,296,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rothschild Investment LLC purchased a new position in shares of Stellantis during the 2nd quarter valued at about $25,000. Waldron Private Wealth LLC bought a new stake in Stellantis during the third quarter valued at about $33,000. Central Pacific Bank Trust Division bought a new position in shares of Stellantis in the third quarter worth about $35,000. Cromwell Holdings LLC lifted its holdings in Stellantis by 52.9% in the 3rd quarter. Cromwell Holdings LLC now owns 2,993 shares of the company’s stock worth $42,000 after purchasing an additional 1,036 shares in the last quarter. Finally, Darwin Wealth Management LLC bought a new position in Stellantis in the 3rd quarter worth approximately $47,000. 59.48% of the stock is owned by hedge funds and other institutional investors.

Stellantis Trading Down 0.2 %

STLA stock opened at $13.04 on Tuesday. Stellantis has a twelve month low of $12.12 and a twelve month high of $29.51. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $40.85 billion, a price-to-earnings ratio of 4.28, a price-to-earnings-growth ratio of 0.45 and a beta of 1.60. The firm’s fifty day simple moving average is $13.27 and its two-hundred day simple moving average is $15.62.

Analysts Set New Price Targets

Several equities analysts recently weighed in on STLA shares. Royal Bank of Canada reaffirmed a “sector perform” rating on shares of Stellantis in a research note on Friday, October 4th. Barclays cut Stellantis from an “overweight” rating to an “equal weight” rating in a report on Thursday, October 3rd. Wolfe Research reissued a “peer perform” rating on shares of Stellantis in a research note on Thursday, September 5th. Finally, Evercore ISI initiated coverage on Stellantis in a research report on Monday, November 11th. They set an “inline” rating for the company. Eight analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $27.34.

About Stellantis

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.