General Motors Company (NYSE:GM) Holdings Decreased by Swiss National Bank

Swiss National Bank reduced its stake in shares of General Motors Company (NYSE:GMFree Report) (TSE:GMM.U) by 2.3% during the first quarter, Holdings Channel.com reports. The firm owned 3,101,300 shares of the auto manufacturer’s stock after selling 73,800 shares during the period. Swiss National Bank’s holdings in General Motors were worth $145,854,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of GM. Vanguard Group Inc. raised its stake in shares of General Motors by 6.9% during the first quarter. Vanguard Group Inc. now owns 99,341,336 shares of the auto manufacturer’s stock valued at $4,672,023,000 after purchasing an additional 6,395,375 shares in the last quarter. Assenagon Asset Management S.A. raised its position in General Motors by 305.6% in the first quarter. Assenagon Asset Management S.A. now owns 2,858,959 shares of the auto manufacturer’s stock worth $134,457,000 after acquiring an additional 2,154,037 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in General Motors in the first quarter worth about $86,900,000. AustralianSuper Pty Ltd raised its position in General Motors by 38.9% in the first quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer’s stock worth $287,428,000 after acquiring an additional 1,712,033 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in General Motors in the fourth quarter worth about $60,198,000. 92.67% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Rory Harvey sold 23,977 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $53.01, for a total value of $1,271,020.77. Following the completion of the sale, the executive vice president directly owned 8,513 shares in the company, valued at approximately $451,274.13. The trade was a 73.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.54% of the company’s stock.

General Motors Trading Up 1.1%

Shares of NYSE GM opened at $53.52 on Friday. The stock has a market cap of $50.96 billion, a price-to-earnings ratio of 8.50, a PEG ratio of 1.12 and a beta of 1.36. The business has a 50 day simple moving average of $50.95 and a 200 day simple moving average of $48.84. General Motors Company has a 52 week low of $41.60 and a 52 week high of $61.24. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.05 and a current ratio of 1.22.

General Motors (NYSE:GMGet Free Report) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 EPS for the quarter, beating the consensus estimate of $2.52 by $0.01. The business had revenue of $47.12 billion during the quarter, compared to analysts’ expectations of $45.87 billion. General Motors had a return on equity of 12.98% and a net margin of 2.54%. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.06 EPS. On average, research analysts predict that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, September 5th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, September 5th. General Motors’s payout ratio is 9.52%.

Analyst Upgrades and Downgrades

Several brokerages have commented on GM. Wedbush reiterated an “outperform” rating and issued a $55.00 price target on shares of General Motors in a research report on Wednesday, July 23rd. Sanford C. Bernstein set a $36.00 price target on shares of General Motors in a research report on Monday, May 5th. Citigroup boosted their price target on shares of General Motors from $59.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. Barclays boosted their price target on shares of General Motors from $45.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 16th. Finally, Industrial Alliance Securities set a $70.00 price target on General Motors in a research note on Friday, July 11th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, General Motors presently has an average rating of “Hold” and a consensus target price of $57.53.

View Our Latest Analysis on GM

About General Motors

(Free Report)

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.

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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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