Bank of Montreal Can Sells 909,421 Shares of Stellantis (NYSE:STLA)

Bank of Montreal Can cut its stake in Stellantis (NYSE:STLA) by 53.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 795,575 shares of the company’s stock after selling 909,421 shares during the quarter. Bank of Montreal Can’s holdings in Stellantis were worth $10,382,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Orion Portfolio Solutions LLC lifted its holdings in Stellantis by 7.6% during the fourth quarter. Orion Portfolio Solutions LLC now owns 16,184 shares of the company’s stock worth $211,000 after acquiring an additional 1,149 shares in the last quarter. Spire Wealth Management raised its position in shares of Stellantis by 29.7% during the fourth quarter. Spire Wealth Management now owns 5,291 shares of the company’s stock worth $69,000 after purchasing an additional 1,211 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in shares of Stellantis by 10.0% during the 4th quarter. Sequoia Financial Advisors LLC now owns 16,246 shares of the company’s stock valued at $212,000 after purchasing an additional 1,481 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of Stellantis by 67.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 3,711 shares of the company’s stock valued at $48,000 after purchasing an additional 1,489 shares during the period. Finally, Caprock Group LLC grew its position in shares of Stellantis by 6.9% in the 4th quarter. Caprock Group LLC now owns 24,293 shares of the company’s stock valued at $317,000 after purchasing an additional 1,558 shares during the period. 59.48% of the stock is currently owned by institutional investors and hedge funds.

Stellantis Trading Down 0.4 %

Stellantis stock opened at $8.88 on Monday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.14 and a quick ratio of 0.85. The firm has a 50-day moving average of $12.14 and a 200-day moving average of $12.84. The company has a market cap of $26.83 billion, a price-to-earnings ratio of 2.60 and a beta of 1.44. Stellantis has a one year low of $8.39 and a one year high of $27.04.

Wall Street Analyst Weigh In

STLA has been the topic of a number of research reports. Cowen started coverage on shares of Stellantis in a research note on Thursday, March 6th. They issued a “hold” rating on the stock. TD Cowen assumed coverage on shares of Stellantis in a research report on Friday, March 7th. They issued a “hold” rating and a $13.00 price objective on the stock. Finally, Piper Sandler cut Stellantis from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $23.00 to $13.00 in a report on Thursday, March 20th. Nine analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $16.49.

Stellantis Company 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.