Sumitomo Mitsui Trust Holdings Inc. Sells 111,641 Shares of Stellantis (NYSE:STLA)

Sumitomo Mitsui Trust Holdings Inc. reduced its position in Stellantis (NYSE:STLA) by 3.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,897,504 shares of the company’s stock after selling 111,641 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.09% of Stellantis worth $82,411,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its stake in Stellantis by 139.1% in the third quarter. Envestnet Asset Management Inc. now owns 213,158 shares of the company’s stock valued at $4,084,000 after acquiring an additional 124,022 shares during the last quarter. LPL Financial LLC raised its holdings in shares of Stellantis by 27.9% during the 3rd quarter. LPL Financial LLC now owns 198,462 shares of the company’s stock valued at $3,797,000 after buying an additional 43,313 shares in the last quarter. Advisors Asset Management Inc. lifted its position in Stellantis by 25.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 49,667 shares of the company’s stock worth $950,000 after buying an additional 10,107 shares during the last quarter. Axxcess Wealth Management LLC purchased a new stake in Stellantis in the third quarter worth approximately $206,000. Finally, Adage Capital Partners GP L.L.C. bought a new position in Stellantis during the third quarter valued at approximately $19,130,000. Hedge funds and other institutional investors own 59.48% of the company’s stock.

Stellantis Stock Up 1.1 %

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

Stellantis Announces Dividend

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

Analyst Upgrades and Downgrades

STLA has been the subject of a number of research reports. Piper Sandler assumed coverage on shares of Stellantis in a research note on Friday, March 15th. They issued an “overweight” rating and a $39.00 price objective for the company. Morgan Stanley raised their price objective 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. Berenberg Bank restated a “hold” rating on shares of Stellantis in a research report on Tuesday, March 26th. Finally, Sanford C. Bernstein began coverage on Stellantis in a research report on Friday, June 28th. They issued a “market perform” rating and a $23.50 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $29.55.

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.