Invesco Ltd. Lowers Stake in Stellantis (NYSE:STLA)

Invesco Ltd. reduced its position in Stellantis (NYSE:STLA - Free Report) by 5.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,013,316 shares of the company's stock after selling 606,700 shares during the quarter. Invesco Ltd. owned approximately 0.36% of Stellantis worth $143,724,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of STLA. Geneos Wealth Management Inc. bought a new position in Stellantis in the 4th quarter worth approximately $26,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Stellantis during the fourth quarter worth $47,000. MassMutual Private Wealth & Trust FSB grew its stake in Stellantis by 67.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 3,711 shares of the company's stock valued at $48,000 after acquiring an additional 1,489 shares in the last quarter. Spire Wealth Management grew its stake in Stellantis by 29.7% during the fourth quarter. Spire Wealth Management now owns 5,291 shares of the company's stock valued at $69,000 after acquiring an additional 1,211 shares in the last quarter. Finally, Central Pacific Bank Trust Division increased its holdings in Stellantis by 160.0% in the 4th quarter. Central Pacific Bank Trust Division now owns 6,500 shares of the company's stock valued at $85,000 after acquiring an additional 4,000 shares during the last quarter. 59.48% of the stock is currently owned by institutional investors.

Stellantis Trading Up 2.0 %

Shares of STLA traded up $0.19 during midday trading on Friday, hitting $9.42. The stock had a trading volume of 18,247,825 shares, compared to its average volume of 10,567,434. Stellantis has a 1 year low of $8.39 and a 1 year high of $25.97. 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 stock's 50 day moving average is $11.85 and its 200 day moving average is $12.71. The firm has a market cap of $28.46 billion, a PE ratio of 2.76 and a beta of 1.44.

Stellantis Announces Dividend

The company also recently disclosed a dividend, which will be paid on Monday, May 5th. Shareholders of record on Thursday, April 24th will be paid a $0.5032 dividend. This represents a yield of 6.07%. The ex-dividend date of this dividend is Wednesday, April 23rd. Stellantis's payout ratio is currently 20.82%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Cowen assumed coverage on Stellantis in a research report on Thursday, March 6th. They set a "hold" rating for the company. UBS Group downgraded Stellantis from a "buy" rating to a "neutral" rating in a research note on Monday. Piper Sandler downgraded Stellantis from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $23.00 to $13.00 in a research report on Thursday, March 20th. Finally, 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 target on the stock. Ten analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $16.49.

Stellantis 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.