Goldman Sachs Group Inc. reduced its stake in shares of Tata Motors Ltd (NYSE:TTM) by 18.9% during the first quarter, Holdings Channel reports. The institutional investor owned 819,472 shares of the company’s stock after selling 190,879 shares during the period. Goldman Sachs Group Inc.’s holdings in Tata Motors were worth $29,214,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Integrated Investment Consultants LLC bought a new position in Tata Motors during the first quarter valued at about $101,000. Daiwa SB Investments Ltd. boosted its position in Tata Motors by 31.8% in the first quarter. Daiwa SB Investments Ltd. now owns 2,900 shares of the company’s stock valued at $103,000 after buying an additional 700 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Tata Motors by 439.5% in the first quarter. PNC Financial Services Group Inc. now owns 5,406 shares of the company’s stock valued at $194,000 after buying an additional 4,404 shares in the last quarter. BB&T Corp bought a new position in Tata Motors during the first quarter valued at about $209,000. Finally, Stifel Financial Corp bought a new position in Tata Motors during the first quarter valued at about $209,000. 13.77% of the stock is currently owned by institutional investors.
Tata Motors Ltd (NYSE:TTM) opened at 33.51 on Monday. Tata Motors Ltd has a 52-week low of $31.71 and a 52-week high of $44.79. The firm’s 50-day moving average is $35.20 and its 200 day moving average is $35.63.
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Several research firms have issued reports on TTM. Zacks Investment Research raised Tata Motors from a “sell” rating to a “hold” rating in a report on Thursday, April 6th. BidaskClub cut Tata Motors from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Finally, ValuEngine cut Tata Motors from a “buy” rating to a “hold” rating in a report on Saturday, June 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Tata Motors currently has an average rating of “Hold” and an average target price of $44.50.
In related news, Director Carlos Yong acquired 300,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The shares were acquired at an average cost of $0.30 per share, for a total transaction of $90,000.00.
About Tata Motors
Tata Motors Limited is an automobile company. The Company is engaged in manufacture of motor vehicles. The Company is engaged mainly in the business of automobile products consisting of all types of commercial and passenger vehicles, including financing of the vehicles sold by the Company. The Company’s segments include automotive operations and all other operations.
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