State Street Corp Decreases Stake in Stellantis (NYSE:STLA)

State Street Corp reduced its position in shares of Stellantis (NYSE:STLA) by 1.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 234,602 shares of the company’s stock after selling 4,594 shares during the quarter. State Street Corp’s holdings in Stellantis were worth $3,296,000 as of its most recent filing with the Securities & Exchange Commission.

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

Stellantis Price Performance

STLA opened at $13.04 on Tuesday. The company’s 50-day simple moving average is $13.27 and its two-hundred day simple moving average is $15.62. Stellantis has a 52-week low of $12.12 and a 52-week high of $29.51. The stock has a market capitalization of $40.85 billion, a P/E ratio of 4.28, a P/E/G ratio of 0.45 and a beta of 1.60. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.85 and a current ratio of 1.14.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on STLA shares. Royal Bank of Canada reissued a “sector perform” rating on shares of Stellantis in a research note on Friday, October 4th. Evercore ISI began coverage on Stellantis in a research report on Monday, November 11th. They issued an “inline” rating for the company. Barclays lowered shares of Stellantis from an “overweight” rating to an “equal weight” rating in a research note on Thursday, October 3rd. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Stellantis in a research note on Thursday, September 5th. Eight investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target 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.