Comerica Bank trimmed its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 20.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 283,719 shares of the auto manufacturer’s stock after selling 73,453 shares during the quarter. Comerica Bank’s holdings in General Motors were worth $9,113,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also bought and sold shares of GM. Ruffer LLP purchased a new position in General Motors during the second quarter worth about $120,141,000. Natixis grew its position in General Motors by 780.3% during the second quarter. Natixis now owns 3,170,930 shares of the auto manufacturer’s stock worth $124,935,000 after buying an additional 2,810,730 shares in the last quarter. Bank of New York Mellon Corp grew its position in General Motors by 20.0% during the second quarter. Bank of New York Mellon Corp now owns 14,355,956 shares of the auto manufacturer’s stock worth $565,624,000 after buying an additional 2,394,922 shares in the last quarter. ING Groep NV grew its position in General Motors by 11,572.0% during the second quarter. ING Groep NV now owns 1,635,827 shares of the auto manufacturer’s stock worth $64,452,000 after buying an additional 1,621,812 shares in the last quarter. Finally, Levin Capital Strategies L.P. grew its position in General Motors by 31.2% during the third quarter. Levin Capital Strategies L.P. now owns 6,670,952 shares of the auto manufacturer’s stock worth $224,611,000 after buying an additional 1,584,628 shares in the last quarter. Institutional investors and hedge funds own 73.90% of the company’s stock.
NYSE GM opened at $35.70 on Friday. General Motors has a 1-year low of $30.56 and a 1-year high of $45.52. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.89 and a quick ratio of 0.76. The stock has a market capitalization of $51.46 billion, a PE ratio of 5.39, a P/E/G ratio of 0.70 and a beta of 1.25.
General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Wednesday, October 31st. The auto manufacturer reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.62. General Motors had a return on equity of 25.81% and a net margin of 0.56%. The company had revenue of $35.79 billion during the quarter, compared to analyst estimates of $34.85 billion. During the same quarter in the previous year, the company posted $1.32 EPS. General Motors’s revenue for the quarter was up 6.4% on a year-over-year basis. Equities research analysts forecast that General Motors will post 6.17 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Friday, December 7th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date of this dividend is Thursday, December 6th. General Motors’s dividend payout ratio (DPR) is presently 22.96%.
GM has been the subject of a number of research reports. Guggenheim reiterated a “buy” rating and issued a $52.00 price objective on shares of General Motors in a report on Friday, July 20th. Citigroup cut their price objective on General Motors to $60.00 and set a “buy” rating for the company in a report on Thursday, July 26th. Royal Bank of Canada cut their price objective on General Motors from $53.00 to $49.00 and set an “outperform” rating for the company in a report on Thursday, July 26th. Buckingham Research cut their price objective on General Motors from $39.00 to $37.00 and set a “neutral” rating for the company in a report on Thursday, July 26th. Finally, JPMorgan Chase & Co. cut their price objective on General Motors from $58.00 to $54.00 and set an “overweight” rating for the company in a report on Friday, July 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $46.38.
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General Motors Company 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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