Tata Motors Ltd. (TTM) Trading Down 0.9%
Tata Motors Ltd. (NYSE:TTM) shares dropped 0.9% during mid-day trading on Monday . The company traded as low as $38.32 and last traded at $38.33, with a volume of 503,082 shares trading hands. The stock had previously closed at $38.69.
TTM has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded Tata Motors from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 18th. Credit Suisse Group AG downgraded 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 and two have given a buy rating to the company’s stock. Tata Motors currently has a consensus rating of “Hold” and an average target price of $33.49.
The firm has a 50-day moving average price of $36.57 and a 200-day moving average price of $30.63. The stock has a market cap of $26.12 billion and a price-to-earnings ratio of 15.76.
The company also recently declared an annual dividend, which was paid on Monday, July 18th. Shareholders of record on Monday, July 18th were given a dividend of $0.012 per share. The ex-dividend date was Thursday, July 14th.
A hedge fund recently raised its stake in Tata Motors stock. Wells Fargo & Company MN increased its stake in Tata Motors Ltd. (NYSE:TTM) by 11.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 360,263 shares of the company’s stock after buying an additional 37,379 shares during the period. Wells Fargo & Company MN owned about 0.06% of Tata Motors worth $10,616,000 as of its most recent SEC filing.
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.