Morgan Stanley Raises Stellantis (NYSE:STLA) Price Target to $30.40

Stellantis (NYSE:STLAFree Report) had its price target raised by Morgan Stanley from $26.00 to $30.40 in a report released on Thursday, Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Several other analysts have also commented on STLA. Nomura reissued a neutral rating on shares of Stellantis in a report on Wednesday, March 13th. Redburn Atlantic began coverage on Stellantis in a research note on Wednesday, January 24th. They issued a buy rating on the stock. Wolfe Research began coverage on Stellantis in a research note on Thursday, February 1st. They issued an outperform rating on the stock. Sanford C. Bernstein lowered Stellantis from an outperform rating to a market perform rating in a research note on Wednesday, February 28th. Finally, HSBC lowered Stellantis from a buy rating to a hold rating in a research note on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $30.28.

Check Out Our Latest Stock Report on Stellantis

Stellantis Price Performance

Shares of STLA opened at $25.94 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.24 and a quick ratio of 0.95. Stellantis has a 12 month low of $15.07 and a 12 month high of $29.51. The stock’s 50 day moving average is $26.73 and its two-hundred day moving average is $23.01.

Stellantis Announces Dividend

The business also recently disclosed a dividend, which will be paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd will be given a dividend of $1.147 per share. The ex-dividend date of this dividend is Monday, April 22nd. This represents a yield of 4.55%.

Insider Buying and Selling

In related news, major shareholder N.V. Stellantis acquired 800,000 shares of Stellantis stock in a transaction that occurred on Monday, March 11th. The shares were purchased at an average price of $4.83 per share, for a total transaction of $3,864,000.00. Following the completion of the transaction, the insider now owns 36,251,720 shares in the company, valued at approximately $175,095,807.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have purchased 3,150,000 shares of company stock worth $15,724,500. 0.02% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Stellantis

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cary Street Partners Investment Advisory LLC purchased a new stake in Stellantis in the third quarter valued at $26,000. Financial Management Professionals Inc. raised its position in Stellantis by 307.4% in the third quarter. Financial Management Professionals Inc. now owns 1,707 shares of the company’s stock valued at $33,000 after purchasing an additional 1,288 shares during the period. Westend Capital Management LLC purchased a new stake in Stellantis in the first quarter valued at $38,000. Bruce G. Allen Investments LLC purchased a new stake in Stellantis in the fourth quarter valued at $40,000. Finally, Global Retirement Partners LLC raised its position in Stellantis by 953.6% in the third quarter. Global Retirement Partners LLC now owns 2,318 shares of the company’s stock valued at $43,000 after purchasing an additional 2,098 shares during the period. Hedge funds and other institutional investors own 59.48% of the company’s stock.

About Stellantis

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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.

Further Reading

Analyst Recommendations for Stellantis (NYSE:STLA)

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