Municipal Employees Retirement System of Michigan boosted its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 82.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,380 shares of the auto manufacturer’s stock after purchasing an additional 14,610 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in General Motors were worth $1,248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of GM. Trust Co. of Vermont boosted its holdings in General Motors by 101.2% in the second quarter. Trust Co. of Vermont now owns 666 shares of the auto manufacturer’s stock worth $26,000 after acquiring an additional 335 shares in the last quarter. Webster Bank N. A. raised its stake in shares of General Motors by 253.5% in the second quarter. Webster Bank N. A. now owns 700 shares of the auto manufacturer’s stock worth $27,000 after purchasing an additional 502 shares during the last quarter. Massey Quick Simon & CO. LLC purchased a new position in General Motors during the first quarter valued at approximately $35,000. Truvestments Capital LLC purchased a new position in General Motors during the first quarter valued at approximately $37,000. Finally, Bremer Bank National Association purchased a new position in General Motors during the first quarter valued at approximately $37,000. 75.92% of the stock is currently owned by institutional investors.
Several research analysts recently weighed in on GM shares. Royal Bank of Canada lifted their price target on General Motors to $52.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. They noted that the move was a valuation call. Citigroup lifted their price target on General Motors from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. ValuEngine upgraded General Motors from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd. Evercore ISI set a $50.00 price target on General Motors and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, Nomura set a $38.00 price target on General Motors and gave the company a “hold” rating in a research report on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $47.46.
Shares of General Motors stock traded down $1.39 on Wednesday, reaching $37.62. The company’s stock had a trading volume of 192,262 shares, compared to its average volume of 8,936,818. The firm has a market capitalization of $55.70 billion, a P/E ratio of 5.74, a P/E/G ratio of 0.67 and a beta of 1.39. General Motors has a 52-week low of $30.56 and a 52-week high of $41.90. The business has a 50-day simple moving average of $39.29. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.96 and a quick ratio of 0.83.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Thursday, August 1st. The auto manufacturer reported $1.64 EPS for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.21. The business had revenue of $36.06 billion during the quarter, compared to analysts’ expectations of $36.03 billion. General Motors had a return on equity of 21.08% and a net margin of 6.31%. The business’s revenue was down 1.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.81 earnings per share. Research analysts expect that General Motors will post 6.68 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend is Thursday, September 5th. General Motors’s dividend payout ratio (DPR) is presently 23.24%.
General Motors Profile
General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
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