Perigon Wealth Management LLC Sells 2,240 Shares of General Motors (NYSE:GM)

Perigon Wealth Management LLC reduced its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 19.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,023 shares of the auto manufacturer’s stock after selling 2,240 shares during the quarter. Perigon Wealth Management LLC’s holdings in General Motors were worth $228,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. IBM Retirement Fund boosted its holdings in General Motors by 51.4% in the 1st quarter. IBM Retirement Fund now owns 32,418 shares of the auto manufacturer’s stock valued at $674,000 after purchasing an additional 10,999 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its holdings in General Motors by 14.6% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 192,303 shares of the auto manufacturer’s stock valued at $3,996,000 after purchasing an additional 24,450 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in General Motors by 22.1% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,280,281 shares of the auto manufacturer’s stock valued at $26,604,000 after purchasing an additional 231,885 shares during the period. Colony Group LLC boosted its holdings in General Motors by 47.4% in the 1st quarter. Colony Group LLC now owns 167,784 shares of the auto manufacturer’s stock valued at $3,487,000 after purchasing an additional 53,993 shares during the period. Finally, APG Asset Management N.V. lifted its holdings in shares of General Motors by 33.0% during the 1st quarter. APG Asset Management N.V. now owns 3,864,339 shares of the auto manufacturer’s stock worth $80,301,000 after acquiring an additional 958,460 shares during the period. 75.41% of the stock is currently owned by institutional investors and hedge funds.

GM has been the subject of a number of recent analyst reports. Credit Suisse Group reaffirmed a “buy” rating and set a $33.00 price target on shares of General Motors in a report on Wednesday, June 3rd. Zacks Investment Research raised shares of General Motors from a “sell” rating to a “hold” rating and set a $29.00 price target for the company in a report on Wednesday, May 27th. UBS Group upped their price target on shares of General Motors from $27.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Deutsche Bank upped their price target on shares of General Motors from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Jefferies Financial Group reaffirmed a “neutral” rating and set a $28.00 price target on shares of General Motors in a report on Thursday, June 18th. 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. The company currently has an average rating of “Buy” and an average target price of $35.37.

In other news, EVP Julian G. Blissett acquired 9,300 shares of the firm’s stock in a transaction dated Friday, May 29th. The stock was bought at an average cost of $26.00 per share, for a total transaction of $241,800.00. Following the completion of the transaction, the executive vice president now directly owns 22,130 shares in the company, valued at approximately $575,380. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.65% of the company’s stock.

Shares of NYSE GM opened at $24.89 on Friday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.95 and a current ratio of 1.12. General Motors has a 52-week low of $14.32 and a 52-week high of $41.90. The firm has a 50 day moving average price of $25.92 and a two-hundred day moving average price of $26.92. The stock has a market cap of $35.62 billion, a P/E ratio of 23.70, a price-to-earnings-growth ratio of 1.78 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Wednesday, July 29th. The auto manufacturer reported ($0.50) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.72) by $1.22. General Motors had a net margin of 1.46% and a return on equity of 6.27%. The company had revenue of $16.80 billion during the quarter, compared to analysts’ expectations of $16.93 billion. During the same period in the prior year, the company posted $1.64 earnings per share. General Motors’s revenue for the quarter was down 53.4% compared to the same quarter last year. Analysts predict that General Motors will post 2.16 earnings per share for the current fiscal year.

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

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