Virginia Retirement Systems ET AL Lowers Stake in General Motors (NYSE:GM)

Virginia Retirement Systems ET AL lowered its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 3.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 535,100 shares of the auto manufacturer’s stock after selling 17,400 shares during the period. Virginia Retirement Systems ET AL’s holdings in General Motors were worth $31,662,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in the company. Seeyond increased its position in General Motors by 19.5% in the second quarter. Seeyond now owns 26,588 shares of the auto manufacturer’s stock worth $1,573,000 after purchasing an additional 4,346 shares during the last quarter. Ossiam purchased a new position in General Motors during the second quarter worth $4,987,000. Toroso Investments LLC boosted its stake in General Motors by 661.5% during the second quarter. Toroso Investments LLC now owns 40,510 shares of the auto manufacturer’s stock worth $2,397,000 after buying an additional 35,190 shares during the period. Gryphon Financial Partners LLC boosted its stake in General Motors by 14.0% during the second quarter. Gryphon Financial Partners LLC now owns 12,295 shares of the auto manufacturer’s stock worth $410,000 after buying an additional 1,512 shares during the period. Finally, APG Asset Management N.V. boosted its stake in General Motors by 5.3% during the second quarter. APG Asset Management N.V. now owns 4,210,628 shares of the auto manufacturer’s stock worth $210,088,000 after buying an additional 211,925 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Shares of NYSE:GM traded up $0.24 during midday trading on Thursday, reaching $58.01. 112,549 shares of the company’s stock traded hands, compared to its average volume of 19,570,191. General Motors has a 1 year low of $30.95 and a 1 year high of $64.30. The company has a market cap of $84.21 billion, a P/E ratio of 6.69, a PEG ratio of 0.81 and a beta of 1.28. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.93 and a current ratio of 1.10. The company has a fifty day simple moving average of $51.89 and a two-hundred day simple moving average of $55.99.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Wednesday, August 4th. The auto manufacturer reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.08. General Motors had a return on equity of 25.11% and a net margin of 9.13%. The firm had revenue of $34.20 billion for the quarter, compared to analyst estimates of $29.66 billion. During the same quarter last year, the firm posted ($0.50) EPS. The business’s revenue was up 103.8% on a year-over-year basis. As a group, research analysts forecast that General Motors will post 6.2 EPS for the current fiscal year.

A number of analysts have recently issued reports on GM shares. Bank of America boosted their target price on shares of General Motors from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, July 16th. The Goldman Sachs Group lowered their target price on shares of General Motors from $62.00 to $59.00 and set a “buy” rating for the company in a research note on Sunday, September 26th. Zacks Investment Research lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price for the company. in a research note on Monday, August 9th. Wedbush assumed coverage on shares of General Motors in a research note on Thursday, July 8th. They set an “outperform” rating and a $85.00 target price for the company. Finally, Credit Suisse Group lowered their price objective on shares of General Motors from $77.00 to $75.00 and set an “outperform” rating for the company in a research note on Thursday, August 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, General Motors currently has an average rating of “Buy” and an average price target of $68.32.

About General Motors

General Motors Co engages in the designing, manufacturing, and selling of cars, trucks and automobile parts. It also provides automotive financing services through General Motors Financial Company, Inc The firm operates through the following segments: GM North America, GM International, Cruise and GM Financial.

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

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