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

HITE Hedge Asset Management LLC cut its position in Toyota Motor Corporation (NYSE:TM) by 55.5% during the fourth quarter, HoldingsChannel reports. The firm owned 50,609 shares of the company’s stock after selling 63,096 shares during the quarter. HITE Hedge Asset Management LLC’s holdings in Toyota Motor were worth $10,833,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Wealthspire Advisors LLC increased its position in shares of Toyota Motor by 137.1% in the 4th quarter. Wealthspire Advisors LLC now owns 1,629 shares of the company’s stock valued at $349,000 after purchasing an additional 942 shares during the last quarter. Quadrant Capital Group LLC increased its position in shares of Toyota Motor by 1.9% in the 4th quarter. Quadrant Capital Group LLC now owns 29,177 shares of the company’s stock valued at $6,246,000 after purchasing an additional 550 shares during the last quarter. Federation des caisses Desjardins du Quebec increased its position in shares of Toyota Motor by 2.5% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 11,820 shares of the company’s stock valued at $2,530,000 after purchasing an additional 285 shares during the last quarter. Brooklyn Investment Group increased its position in shares of Toyota Motor by 70.5% in the 4th quarter. Brooklyn Investment Group now owns 14,444 shares of the company’s stock valued at $3,126,000 after purchasing an additional 5,971 shares during the last quarter. Finally, Orion Porfolio Solutions LLC increased its position in shares of Toyota Motor by 9.9% in the 4th quarter. Orion Porfolio Solutions LLC now owns 19,456 shares of the company’s stock valued at $4,165,000 after purchasing an additional 1,760 shares during the last quarter. 1.48% of the stock is owned by hedge funds and other institutional investors.

Toyota Motor Trading Up 0.1%

Shares of Toyota Motor stock opened at $175.06 on Friday. The company has a fifty day simple moving average of $193.36 and a 200-day simple moving average of $210.94. Toyota Motor Corporation has a 12-month low of $167.18 and a 12-month high of $248.90. The company has a current ratio of 1.27, a quick ratio of 1.12 and a debt-to-equity ratio of 0.62. The stock has a market cap of $228.16 billion, a price-to-earnings ratio of 8.94 and a beta of 0.56.

Toyota Motor (NYSE:TM) last issued its earnings results on Tuesday, March 31st. The company reported $3.80 earnings per share (EPS) for the quarter. Toyota Motor had a net margin of 7.59% and a return on equity of 9.74%. The business had revenue of $76.81 billion during the quarter. On average, equities analysts forecast that Toyota Motor Corporation will post 21.06 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on TM. Weiss Ratings reissued a “hold (c)” rating on shares of Toyota Motor in a research report on Monday, April 20th. DZ Bank raised shares of Toyota Motor from a “strong sell” rating to a “strong-buy” rating in a research report on Monday, March 2nd. Freedom Capital raised shares of Toyota Motor from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 14th. Zacks Research downgraded shares of Toyota Motor from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 12th. Finally, Erste Group Bank downgraded shares of Toyota Motor from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus 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.