Deltec Asset Management LLC reduced its position in shares of Tata Motors Ltd. (NYSE:TTM) by 22.1% during the second quarter, Holdings Channel reports. The institutional investor owned 96,265 shares of the company’s stock after selling 27,255 shares during the period. Deltec Asset Management LLC’s holdings in Tata Motors were worth $3,338,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Bessemer Group Inc. raised its stake in shares of Tata Motors by 50.6% in the first quarter. Bessemer Group Inc. now owns 2,605,927 shares of the company’s stock worth $75,702,000 after buying an additional 875,907 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Tata Motors by 180.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,241,052 shares of the company’s stock worth $36,053,000 after buying an additional 798,400 shares in the last quarter. Credit Agricole S A raised its stake in shares of Tata Motors by 218.2% in the first quarter. Credit Agricole S A now owns 1,070,927 shares of the company’s stock worth $31,110,000 after buying an additional 734,338 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Tata Motors by 168.8% in the first quarter. Acadian Asset Management LLC now owns 966,468 shares of the company’s stock worth $28,075,000 after buying an additional 606,886 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in shares of Tata Motors during the second quarter worth $19,251,000. Hedge funds and other institutional investors own 12.19% of the company’s stock.

Shares of Tata Motors Ltd. (NYSE:TTM) traded down 1.30% during trading on Tuesday, hitting $40.99. 1,081,895 shares of the stock were exchanged. The stock’s 50 day moving average price is $39.79 and its 200 day moving average price is $33.62. The firm has a market capitalization of $27.84 billion, a price-to-earnings ratio of 23.22 and a beta of 2.73. Tata Motors Ltd. has a 52 week low of $20.00 and a 52 week high of $44.79.

TTM has been the topic of a number of research analyst reports. Credit Suisse Group AG lowered shares of Tata Motors from an “outperform” rating to a “neutral” rating in a research report on Monday, June 27th. Zacks Investment Research upgraded shares of Tata Motors from a “hold” rating to a “strong-buy” rating and set a $47.00 target price on the stock in a research report on Thursday, September 1st. Finally, Sanford C. Bernstein lowered shares of Tata Motors from an “outperform” rating to a “market perform” rating in a research report on Friday, September 9th. Four research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $37.99.

Tata Motors Company Profile

Tata Motors Limited is an automobile company. The Company is engaged in the business of automobile products consisting of all types of commercial and passenger vehicles, including financing of the vehicles sold by the Company. Its operating segments include automotive operations and all other operations.

5 Day Chart for NYSE:TTM

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