Millennium Management LLC grew its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 78.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,810,691 shares of the auto manufacturer’s stock after purchasing an additional 2,986,293 shares during the quarter. General Motors makes up about 0.4% of Millennium Management LLC’s investment portfolio, making the stock its 11th biggest position. Millennium Management LLC owned 0.49% of General Motors worth $279,170,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Icon Wealth Partners LLC purchased a new position in shares of General Motors in the 4th quarter worth $106,000. Fieldpoint Private Securities LLC purchased a new position in shares of General Motors in the 3rd quarter worth $119,000. Cerebellum GP LLC purchased a new position in shares of General Motors in the 4th quarter worth $123,000. Independence Bank of Kentucky purchased a new position in shares of General Motors in the 4th quarter worth $129,000. Finally, Stumpf Capital Management LLC purchased a new position in shares of General Motors in the 4th quarter worth $131,000. 73.61% of the stock is currently owned by institutional investors.
Several research analysts recently weighed in on the company. Morgan Stanley reaffirmed a “hold” rating and issued a $43.00 target price on shares of General Motors in a research report on Tuesday, November 28th. Zacks Investment Research raised General Motors from a “sell” rating to a “hold” rating in a research report on Tuesday, January 9th. Bank of America reissued a “buy” rating and issued a $57.00 price objective on shares of General Motors in a research report on Tuesday, November 28th. Guggenheim raised General Motors from a “neutral” rating to a “buy” rating and set a $37.00 price objective on the stock in a research report on Monday, November 20th. Finally, Barclays reissued a “buy” rating and issued a $61.00 price objective on shares of General Motors in a research report on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the company’s stock. General Motors presently has a consensus rating of “Buy” and a consensus target price of $44.75.
Shares of General Motors (NYSE GM) opened at $38.41 on Wednesday. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.76 and a current ratio of 0.89. The firm has a market capitalization of $53,230.00, a PE ratio of 7.38, a PEG ratio of 0.72 and a beta of 1.60. General Motors has a 52 week low of $31.92 and a 52 week high of $46.76.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, February 6th. The auto manufacturer reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.31. The company had revenue of $34.48 billion during the quarter, compared to the consensus estimate of $34.28 billion. General Motors had a positive return on equity of 22.86% and a negative net margin of 2.58%. The company’s revenue was down 7.7% on a year-over-year basis. During the same period last year, the firm earned $1.28 earnings per share. sell-side analysts predict that General Motors will post 6.25 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Friday, March 9th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $1.52 annualized dividend and a dividend yield of 3.96%. General Motors’s dividend payout ratio is presently 29.51%.
COPYRIGHT VIOLATION NOTICE: “General Motors (GM) Holdings Lifted by Millennium Management LLC” was first posted by American Banking News and is owned by of American Banking News. If you are accessing this news story on another website, it was illegally copied and republished in violation of US and international copyright legislation. The correct version of this news story can be viewed at https://www.americanbankingnews.com/2018/03/14/general-motors-gm-holdings-lifted-by-millennium-management-llc.html.
About General Motors
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
Receive News & Ratings for General Motors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Motors and related companies with MarketBeat.com's FREE daily email newsletter.