Tata Motors Ltd. (TTM) Shares Sold by Nordea Investment Management AB
Nordea Investment Management AB lowered its position in shares of Tata Motors Ltd. (NYSE:TTM) by 58.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,160 shares of the company’s stock after selling 217,488 shares during the period. Nordea Investment Management AB’s holdings in Tata Motors were worth $5,275,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in TTM. Fulton Bank N.A. raised its stake in Tata Motors by 0.7% in the second quarter. Fulton Bank N.A. now owns 15,521 shares of the company’s stock worth $538,000 after buying an additional 108 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in Tata Motors by 48.8% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 47,111 shares of the company’s stock valued at $1,368,000 after buying an additional 15,440 shares in the last quarter. Sensato Investors LLC bought a new position in Tata Motors during the first quarter valued at $3,444,000. LPL Financial LLC raised its position in Tata Motors by 5.8% in the first quarter. LPL Financial LLC now owns 34,825 shares of the company’s stock valued at $974,000 after buying an additional 1,918 shares in the last quarter. Finally, Natixis raised its position in Tata Motors by 79.0% in the first quarter. Natixis now owns 61,945 shares of the company’s stock valued at $1,800,000 after buying an additional 27,346 shares in the last quarter. Institutional investors and hedge funds own 12.18% of the company’s stock.
Tata Motors Ltd. (NYSE:TTM) traded up 0.47% during mid-day trading on Tuesday, reaching $40.95. 587,636 shares of the company’s stock traded hands. Tata Motors Ltd. has a 1-year low of $20.00 and a 1-year high of $44.79. The firm has a 50-day moving average price of $41.41 and a 200-day moving average price of $35.56. The stock has a market cap of $27.81 billion, a P/E ratio of 23.14 and a beta of 2.90.
Several research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Tata Motors from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 13th. Sanford C. Bernstein lowered shares of Tata Motors from an “outperform” rating to a “market perform” rating in a research note on Friday, September 9th. Finally, Credit Suisse Group AG lowered shares of Tata Motors from an “outperform” rating to a “neutral” rating in a research note on Monday, June 27th. Four investment 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’s stock. The stock has an average rating of “Buy” and an average price target of $37.99.
About Tata Motors
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.
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