HITE Hedge Asset Management LLC Cuts Stock Position in Toyota Motor Corporation $TM

HITE Hedge Asset Management LLC cut its stake in shares of Toyota Motor Corporation (NYSE:TM) by 40.3% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 113,705 shares of the company’s stock after selling 76,627 shares during the period. Toyota Motor comprises about 1.2% of HITE Hedge Asset Management LLC’s holdings, making the stock its 24th biggest holding. HITE Hedge Asset Management LLC’s holdings in Toyota Motor were worth $21,728,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB grew its position in shares of Toyota Motor by 5.2% in the third quarter. Wilmington Savings Fund Society FSB now owns 1,020 shares of the company’s stock valued at $195,000 after purchasing an additional 50 shares during the period. MGO One Seven LLC increased its stake in shares of Toyota Motor by 3.8% during the third quarter. MGO One Seven LLC now owns 1,444 shares of the company’s stock worth $276,000 after purchasing an additional 53 shares in the last quarter. Seven Mile Advisory raised its position in shares of Toyota Motor by 4.1% during the 3rd quarter. Seven Mile Advisory now owns 1,400 shares of the company’s stock worth $268,000 after purchasing an additional 55 shares during the last quarter. Lodestone Wealth Management LLC raised its position in shares of Toyota Motor by 2.3% during the 3rd quarter. Lodestone Wealth Management LLC now owns 2,590 shares of the company’s stock worth $495,000 after purchasing an additional 57 shares during the last quarter. Finally, Bangor Savings Bank lifted its stake in Toyota Motor by 27.8% in the 3rd quarter. Bangor Savings Bank now owns 267 shares of the company’s stock valued at $51,000 after buying an additional 58 shares in the last quarter. 1.48% of the stock is owned by hedge funds and other institutional investors.

Toyota Motor Stock Performance

TM opened at $216.47 on Friday. Toyota Motor Corporation has a twelve month low of $155.00 and a twelve month high of $248.90. The firm has a market capitalization of $282.13 billion, a PE ratio of 11.41 and a beta of 0.60. The company has a current ratio of 1.26, a quick ratio of 1.12 and a debt-to-equity ratio of 0.63. The firm’s 50-day moving average price is $231.02 and its 200 day moving average price is $211.82.

Toyota Motor (NYSE:TM) last released its quarterly earnings data on Friday, February 6th. The company reported $6.26 EPS for the quarter, beating analysts’ consensus estimates of $4.35 by $1.91. Toyota Motor had a net margin of 7.32% and a return on equity of 9.67%. The company had revenue of $76.37 billion during the quarter, compared to the consensus estimate of $82 billion. As a group, sell-side analysts expect that Toyota Motor Corporation will post 19.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TM. BNP Paribas Exane started coverage on Toyota Motor in a report on Thursday, February 12th. They issued an “outperform” rating and a $290.00 price objective on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Toyota Motor in a report on Wednesday, January 21st. Wall Street Zen downgraded Toyota Motor from a “buy” rating to a “hold” rating in a research report on Sunday, November 16th. Zacks Research upgraded Toyota Motor from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 3rd. Finally, DZ Bank raised Toyota Motor from a “strong sell” rating to a “strong-buy” rating in a research note on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $290.00.

Toyota Motor Profile

Toyota Motor Corporation is a global automotive manufacturer headquartered in Toyota City, Aichi, Japan. Founded in 1937 by Kiichiro Toyoda as an offshoot of Toyoda Automatic Loom Works, the company builds and sells a broad range of vehicles and related products under the Toyota and Lexus brands. Toyota’s operations encompass vehicle design, manufacturing, parts supply, and distribution through a worldwide dealer network, as well as complementary businesses such as vehicle financing and mobility services.

The company’s product lineup includes passenger cars, SUVs, pickup trucks, light commercial vehicles and heavy-duty commercial vehicles, along with engines and vehicle components.