Mirae Asset Global Investments Co. Ltd. Increases Stake in General Motors (NYSE:GM)

Mirae Asset Global Investments Co. Ltd. increased its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 0.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 713,231 shares of the auto manufacturer’s stock after acquiring an additional 2,861 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.05% of General Motors worth $27,502,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Aspire Private Capital LLC bought a new position in General Motors in the first quarter worth about $14,600,291,000. Resources Management Corp CT ADV acquired a new position in shares of General Motors during the first quarter worth $166,000. Penserra Capital Management LLC increased its position in General Motors by 85.8% during the 1st quarter. Penserra Capital Management LLC now owns 613 shares of the auto manufacturer’s stock valued at $26,000 after buying an additional 283 shares in the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of General Motors during the first quarter worth about $25,000. Finally, JNBA Financial Advisors raised its position in shares of General Motors by 149.1% in the 2nd quarter. JNBA Financial Advisors now owns 730 shares of the auto manufacturer’s stock valued at $28,000 after purchasing an additional 437 shares during the last quarter. 79.62% of the stock is currently owned by institutional investors.

General Motors Stock Performance

Shares of NYSE:GM opened at $28.52 on Tuesday. The business’s 50 day moving average price is $30.27 and its 200-day moving average price is $33.74. General Motors has a 1 year low of $26.30 and a 1 year high of $43.63. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.14 and a quick ratio of 0.96. The firm has a market capitalization of $39.06 billion, a PE ratio of 4.01, a P/E/G ratio of 0.40 and a beta of 1.48.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, October 24th. The auto manufacturer reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.41. The firm had revenue of $44.13 billion for the quarter, compared to analyst estimates of $42.48 billion. General Motors had a net margin of 5.83% and a return on equity of 16.01%. General Motors’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.25 earnings per share. As a group, equities research analysts expect that General Motors will post 7.1 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Friday, December 1st will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Thursday, November 30th. General Motors’s dividend payout ratio is currently 5.06%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. TheStreet cut shares of General Motors from a “b-” rating to a “c+” rating in a report on Tuesday, October 3rd. Benchmark reiterated a “buy” rating and set a $60.00 price target on shares of General Motors in a research note on Wednesday, October 25th. StockNews.com assumed coverage on General Motors in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Wells Fargo & Company dropped their target price on General Motors from $33.00 to $29.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 3rd. Finally, Mizuho decreased their price objective on shares of General Motors from $40.00 to $38.00 and set a “neutral” rating for the company in a research note on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, General Motors has a consensus rating of “Moderate Buy” and a consensus target price of $50.67.

General Motors Company Profile

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.