Todays Report: The Hexavest Inc. lowers its Position in Tata Motors Ltd. (TTM)

The Hexavest Inc. lowers its Position in Tata Motors Ltd. (TTM)

Hexavest Inc. lowered its stake in shares of Tata Motors Ltd. (NYSE:TTM) by 52.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,790 shares of the company’s stock after selling 7,379 shares during the period. Hexavest Inc.’s holdings in Tata Motors were worth $271,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. ClariVest Asset Management LLC boosted its position in Tata Motors by 3.4% in the second quarter. ClariVest Asset Management LLC now owns 461,953 shares of the company’s stock valued at $16,016,000 after buying an additional 15,200 shares during the last quarter. Mondrian Investment Partners LTD boosted its position in Tata Motors by 0.8% in the second quarter. Mondrian Investment Partners LTD now owns 1,090,504 shares of the company’s stock valued at $37,808,000 after buying an additional 8,900 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its position in Tata Motors by 4.8% in the second quarter. State of New Jersey Common Pension Fund D now owns 83,315 shares of the company’s stock valued at $2,889,000 after buying an additional 3,842 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Tata Motors by 1.5% in the second quarter. PNC Financial Services Group Inc. now owns 3,715 shares of the company’s stock valued at $129,000 after buying an additional 54 shares during the last quarter. Finally, Carnegie Capital Asset Management LLC purchased a new position in Tata Motors during the second quarter valued at $214,000. 12.11% of the stock is owned by institutional investors and hedge funds.

Shares of Tata Motors Ltd. (NYSE:TTM) traded down 0.24% on Friday, hitting $33.43. The company had a trading volume of 1,322,737 shares. The firm has a market capitalization of $22.70 billion, a price-to-earnings ratio of 13.99 and a beta of 2.87. Tata Motors Ltd. has a 1-year low of $20.00 and a 1-year high of $44.79. The company has a 50 day moving average price of $38.48 and a 200 day moving average price of $37.09.

Several research firms have weighed in on TTM. Zacks Investment Research cut Tata Motors from a “hold” rating to a “sell” rating in a research report on Tuesday, November 22nd. Sanford C. Bernstein upgraded Tata Motors from a “market perform” rating to an “outperform” rating and set a $48.00 price objective on the stock in a research report on Monday, November 21st. Finally, Credit Suisse Group AG upgraded Tata Motors from a “neutral” rating to an “outperform” rating in a research report on Tuesday, November 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $42.49.

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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