Bank of America Corp DE grew its position in shares of Tata Motors Limited (NYSE:TTM) by 9.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 431,951 shares of the company’s stock after buying an additional 36,775 shares during the quarter. Bank of America Corp DE’s holdings in Tata Motors were worth $5,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in TTM. Bank of New York Mellon Corp boosted its holdings in Tata Motors by 18.9% during the third quarter. Bank of New York Mellon Corp now owns 38,105 shares of the company’s stock worth $586,000 after buying an additional 6,048 shares in the last quarter. BlackRock Inc. boosted its holdings in Tata Motors by 10.7% during the third quarter. BlackRock Inc. now owns 3,013,445 shares of the company’s stock worth $46,287,000 after buying an additional 291,506 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Tata Motors by 40.9% during the third quarter. Dimensional Fund Advisors LP now owns 922,925 shares of the company’s stock worth $14,197,000 after buying an additional 267,851 shares in the last quarter. United Services Automobile Association boosted its holdings in Tata Motors by 26.0% during the third quarter. United Services Automobile Association now owns 31,472 shares of the company’s stock worth $483,000 after buying an additional 6,492 shares in the last quarter. Finally, LPL Financial LLC purchased a new stake in Tata Motors during the third quarter worth $166,000. Institutional investors and hedge funds own 7.62% of the company’s stock.
TTM has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of Tata Motors from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 1st. Bank of America lowered shares of Tata Motors from a “buy” rating to a “neutral” rating in a research note on Friday, February 8th. Deutsche Bank restated a “hold” rating on shares of Tata Motors in a research note on Tuesday, March 26th. ValuEngine lowered shares of Tata Motors from a “buy” rating to a “hold” rating in a research note on Thursday, January 10th. Finally, Nomura restated a “neutral” rating on shares of Tata Motors in a research note on Friday, February 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $17.00.
Shares of NYSE:TTM opened at $16.74 on Tuesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.92 and a quick ratio of 0.55. The firm has a market capitalization of $11.49 billion, a P/E ratio of 7.12, a P/E/G ratio of -3.52 and a beta of 1.51. Tata Motors Limited has a 12-month low of $10.29 and a 12-month high of $25.85.
Tata Motors (NYSE:TTM) last issued its quarterly earnings results on Thursday, February 7th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.31). The company had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $11.03 billion. Tata Motors had a positive return on equity of 3.13% and a negative net margin of 8.55%. Equities research analysts predict that Tata Motors Limited will post 0.98 earnings per share for the current year.
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About Tata Motors
Tata Motors Limited designs, manufactures, and sells a range of automotive vehicles. It operates through Automotive Operations and All Other Operations segments. The company offers cars, sports vehicles, trucks, buses, and defence vehicles, as well as related spare parts and accessories. It also manufactures engines for industrial and marine applications; aggregates, such as axles and transmissions for commercial vehicles; and factory automation equipment.
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