Sumitomo Mitsui Trust Holdings Inc. Lowers Holdings in Stellantis (NYSE:STLA)

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

Several other institutional investors have also recently made changes to their positions in STLA. Envestnet Asset Management Inc. lifted 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 worth $4,084,000 after acquiring an additional 124,022 shares during the period. LPL Financial LLC lifted its position in shares of Stellantis by 27.9% in the 3rd quarter. LPL Financial LLC now owns 198,462 shares of the company’s stock worth $3,797,000 after purchasing an additional 43,313 shares during the period. Advisors Asset Management Inc. lifted its position in shares of 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 purchasing an additional 10,107 shares during the period. Axxcess Wealth Management LLC bought a new position in shares of Stellantis during the third quarter valued at approximately $206,000. Finally, Adage Capital Partners GP L.L.C. purchased 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.

Analysts Set New Price Targets

STLA has been the topic of several recent research reports. Berenberg Bank reaffirmed a “hold” rating on shares of Stellantis in a research report on Tuesday, March 26th. Piper Sandler initiated coverage on shares of Stellantis in a research report on Friday, March 15th. They set an “overweight” rating and a $39.00 price target for the company. Morgan Stanley lifted their price objective 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. Barclays upgraded shares of Stellantis to a “strong-buy” rating in a research note on Monday, June 17th. Finally, Nomura restated a “neutral” rating on shares of Stellantis in a research note on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $29.55.

Stellantis Price Performance

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

Stellantis Announces Dividend

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

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.