Franklin Resources Inc. Acquires 3,252,492 Shares of Stellantis (NYSE:STLA)

Franklin Resources Inc. lifted its position in shares of Stellantis (NYSE:STLA) by 74.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,605,563 shares of the company’s stock after buying an additional 3,252,492 shares during the period. Franklin Resources Inc. owned about 0.24% of Stellantis worth $102,340,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mediolanum International Funds Ltd boosted its position in Stellantis by 17.4% during the third quarter. Mediolanum International Funds Ltd now owns 670,893 shares of the company’s stock valued at $9,426,000 after purchasing an additional 99,388 shares during the last quarter. FMR LLC boosted its position in Stellantis by 4.9% during the third quarter. FMR LLC now owns 3,137,594 shares of the company’s stock valued at $44,083,000 after purchasing an additional 145,583 shares during the last quarter. Sound Income Strategies LLC boosted its position in Stellantis by 47.1% during the third quarter. Sound Income Strategies LLC now owns 280,010 shares of the company’s stock valued at $3,934,000 after purchasing an additional 89,594 shares during the last quarter. Te Ahumairangi Investment Management Ltd boosted its position in Stellantis by 28.3% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 537,996 shares of the company’s stock valued at $7,408,000 after purchasing an additional 118,635 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Stellantis by 10.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,980,732 shares of the company’s stock valued at $27,429,000 after purchasing an additional 193,653 shares during the last quarter. 59.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

STLA has been the subject of several recent research reports. Barclays cut Stellantis from an “overweight” rating to an “equal weight” rating in a research report on Thursday, October 3rd. Wolfe Research reaffirmed a “peer perform” rating on shares of Stellantis in a research report on Thursday, September 5th. Evercore ISI assumed coverage on Stellantis in a research report on Monday, November 11th. They issued an “inline” rating for the company. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating on shares of Stellantis in a research report on Friday, October 4th. Eight investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $27.34.

Stellantis Price Performance

Shares of NYSE STLA opened at $13.95 on Monday. The firm has a market cap of $43.70 billion, a P/E ratio of 4.57, a price-to-earnings-growth ratio of 0.45 and a beta of 1.60. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.26. Stellantis has a 1-year low of $12.12 and a 1-year high of $29.51. The business’s 50 day moving average is $13.30 and its 200-day moving average is $16.25.

Stellantis Company 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.