Bank Of America Corp Decreased Stake in Honda Motor Ltd (NYSE:HMC) by $13.28 Million as Shares Rose

Bank Of America Corp decreased its stake in Honda Motor Ltd (NYSE:HMC) by 27.02% based on its latest Q4 2015 regulatory filing with the SEC. Bank Of America Corp sold 428,349 shares as the company’s stock rose 6.40% with the market. The institutional investor held 1.16 million shares of the capital goods company at the end of Q4, valued at $36.94M, down from 1.59M at the end of the previous reported quarter. Bank Of America Corp who had been investing in Honda Motor Ltd since many months, could be less bullish the $49.57 billion market cap company. The stock decreased 1.64% or $0.45 on March 30, hitting $26.93. Honda Motor Co Ltd (ADR) (NYSE:HMC) has declined 10.91% since August 24, 2015 and is downtrending. It has underperformed by 19.93% the S&P500.

Bank Of America Corp, which manages about $422.08 billion US Long portfolio, upped its stake in Ciena Corp (NYSE:CIEN) by 2.88M shares to 2.97M shares, valued at $61.53 million in Q4, according to the filing. It also increased its holding in Mohawk Inds Inc (NYSE:MHK) by 90,369 shares in the quarter, for total 102,969 shares, and risen its stake in Palo Alto Networks Inc (NYSE:PANW).

Out of 2 analysts covering Honda Motor Co (NYSE:HMC), 2 rate it “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Honda Motor Co was the topic in 4 analyst reports since August 27, 2015 according to StockzIntelligence Inc.

Honda Motor Co., Ltd. , develops, produces and makes a range of motor products, ranging from small general-purpose engines and scooters to specialty sports cars. The company has a market cap of $49.57 billion. The Firm has four divisions: motorcycle business, automobile business, financial services business, and power product and other businesses. It has 10.52 P/E ratio. Honda’s motorcycle business segment offers motorcycle line, including sports (including trial and moto-cross racing), business and commuter models.

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