General Motors (NYSE:GM) Stock Holdings Lowered by Palisade Capital Management LLC NJ

Palisade Capital Management LLC NJ lowered its position in shares of General Motors (NYSE:GMGet Rating) (TSE:GMM.U) by 49.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 8,605 shares of the auto manufacturer’s stock after selling 8,395 shares during the period. Palisade Capital Management LLC NJ’s holdings in General Motors were worth $376,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Capital International Investors grew its position in General Motors by 218,225.9% in the 4th quarter. Capital International Investors now owns 13,682,486 shares of the auto manufacturer’s stock valued at $802,201,000 after buying an additional 13,676,219 shares in the last quarter. Norges Bank bought a new position in General Motors in the 4th quarter valued at about $711,435,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in General Motors by 295.9% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,074,338 shares of the auto manufacturer’s stock valued at $469,360,000 after buying an additional 6,034,872 shares in the last quarter. Sound Shore Management Inc. CT bought a new position in General Motors in the 1st quarter valued at about $89,428,000. Finally, State Street Corp grew its position in General Motors by 2.8% in the 4th quarter. State Street Corp now owns 59,828,001 shares of the auto manufacturer’s stock valued at $3,507,716,000 after buying an additional 1,636,288 shares in the last quarter. Institutional investors own 82.66% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on GM. Berenberg Bank began coverage on shares of General Motors in a report on Tuesday, May 10th. They issued a “buy” rating and a $55.00 price target for the company. Royal Bank of Canada cut their price target on shares of General Motors from $70.00 to $58.00 in a report on Wednesday, April 27th. Deutsche Bank Aktiengesellschaft downgraded shares of General Motors from a “buy” rating to a “hold” rating in a report on Monday, July 18th. JPMorgan Chase & Co. reduced their price objective on shares of General Motors from $75.00 to $71.00 in a research note on Monday, April 25th. Finally, Citigroup reduced their price objective on shares of General Motors from $98.00 to $87.00 in a research note on Wednesday, June 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $54.94.

General Motors Trading Down 0.5 %

NYSE:GM opened at $36.06 on Friday. The stock’s 50 day moving average price is $34.39 and its 200 day moving average price is $40.46. General Motors has a 52 week low of $30.33 and a 52 week high of $67.21. The company has a market capitalization of $52.58 billion, a P/E ratio of 6.84, a P/E/G ratio of 0.53 and a beta of 1.27. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.93 and a current ratio of 1.15.

General Motors (NYSE:GMGet Rating) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, July 26th. The auto manufacturer reported $1.14 EPS for the quarter, missing the consensus estimate of $1.56 by ($0.42). General Motors had a net margin of 6.66% and a return on equity of 13.82%. The company had revenue of $35.76 billion for the quarter, compared to analyst estimates of $34.35 billion. During the same quarter last year, the business earned $1.97 EPS. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, research analysts forecast that General Motors will post 6.92 EPS for the current fiscal year.

General Motors Company Profile

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General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts and accessories in North America, the Asia Pacific, the Middle East, Africa, South America, the United States, and China. The company operates through GM North America, GM International, Cruise, and GM Financial segments.

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

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