DNB Asset Management AS Has $5.42 Million Position in General Motors (GM)

DNB Asset Management AS boosted its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 2.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 160,820 shares of the auto manufacturer’s stock after buying an additional 3,304 shares during the quarter. DNB Asset Management AS’s holdings in General Motors were worth $5,415,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Nexus Investment Management Inc. increased its position in shares of General Motors by 1.9% during the 3rd quarter. Nexus Investment Management Inc. now owns 402,365 shares of the auto manufacturer’s stock valued at $13,548,000 after purchasing an additional 7,365 shares during the last quarter. Factory Mutual Insurance Co. increased its position in shares of General Motors by 203.5% during the 3rd quarter. Factory Mutual Insurance Co. now owns 522,000 shares of the auto manufacturer’s stock valued at $17,576,000 after purchasing an additional 350,000 shares during the last quarter. Banced Corp increased its position in shares of General Motors by 12.6% during the 3rd quarter. Banced Corp now owns 28,358 shares of the auto manufacturer’s stock valued at $955,000 after purchasing an additional 3,183 shares during the last quarter. Beech Hill Advisors Inc. increased its position in shares of General Motors by 18.0% during the 3rd quarter. Beech Hill Advisors Inc. now owns 127,037 shares of the auto manufacturer’s stock valued at $4,277,000 after purchasing an additional 19,380 shares during the last quarter. Finally, E&G Advisors LP increased its position in shares of General Motors by 10.4% during the 3rd quarter. E&G Advisors LP now owns 32,852 shares of the auto manufacturer’s stock valued at $1,106,000 after purchasing an additional 3,103 shares during the last quarter. 75.22% of the stock is owned by institutional investors and hedge funds.

GM stock opened at $31.79 on Friday. General Motors has a fifty-two week low of $31.49 and a fifty-two week high of $46.76. The company has a quick ratio of 0.74, a current ratio of 0.88 and a debt-to-equity ratio of 1.81. The firm has a market cap of $47.50 billion, a PE ratio of 4.81, a PEG ratio of 0.69 and a beta of 1.55.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Wednesday, July 25th. The auto manufacturer reported $1.81 EPS for the quarter, topping the consensus estimate of $1.78 by $0.03. General Motors had a positive return on equity of 23.39% and a negative net margin of 3.26%. The business had revenue of $36.80 billion during the quarter, compared to the consensus estimate of $36.62 billion. During the same quarter last year, the company earned $1.89 EPS. The firm’s revenue was down .5% compared to the same quarter last year. On average, equities analysts forecast that General Motors will post 5.95 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 21st. Shareholders of record on Friday, September 7th were paid a $0.38 dividend. The ex-dividend date was Thursday, September 6th. This represents a $1.52 annualized dividend and a yield of 4.78%. General Motors’s dividend payout ratio is currently 22.96%.

Several brokerages have recently issued reports on GM. Morgan Stanley decreased their target price on General Motors from $50.00 to $46.00 and set an “overweight” rating for the company in a research report on Friday, August 17th. Goldman Sachs Group set a $36.00 price target on General Motors and gave the stock a “neutral” rating in a research note on Tuesday, September 11th. Citigroup cut their price target on General Motors from $60.00 to $57.00 and set a “buy” rating for the company in a research note on Thursday, October 4th. ValuEngine downgraded General Motors from a “hold” rating to a “sell” rating in a research note on Tuesday, September 4th. Finally, Royal Bank of Canada increased their price target on General Motors from $52.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 10th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company’s stock. General Motors currently has an average rating of “Hold” and an average price target of $46.83.

General Motors Profile

General Motors Company, together with its subsidiaries, designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

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

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