Mirae Asset Global Investments Co. Ltd. increased its stake in General Motors (NYSE:GM – Free Report) (TSE:GMM.U) by 0.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC raised its stake in General Motors by 169.2% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 4,030 shares of the auto manufacturer’s stock valued at $155,000 after purchasing an additional 2,533 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new stake in shares of General Motors in the second quarter valued at approximately $2,672,000. Nwam LLC grew its holdings in General Motors by 155.4% in the 2nd quarter. Nwam LLC now owns 20,853 shares of the auto manufacturer’s stock valued at $804,000 after buying an additional 12,689 shares in the last quarter. Checchi Capital Advisers LLC increased its stake in shares of General Motors by 5.0% in the 2nd quarter. Checchi Capital Advisers LLC now owns 11,284 shares of the auto manufacturer’s stock worth $435,000 after acquiring an additional 536 shares during the last quarter. Finally, Cetera Advisors LLC boosted its position in shares of General Motors by 6.8% during the 2nd quarter. Cetera Advisors LLC now owns 34,354 shares of the auto manufacturer’s stock valued at $1,325,000 after acquiring an additional 2,177 shares during the last quarter. 79.62% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
GM has been the subject of several recent analyst reports. Royal Bank of Canada raised their price objective on shares of General Motors from $47.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 25th. StockNews.com initiated coverage on General Motors in a research report on Thursday, October 5th. They set a “hold” rating for the company. Tigress Financial reaffirmed a “strong-buy” rating and issued a $86.00 target price on shares of General Motors in a report on Friday, July 28th. Mizuho dropped their price objective on shares of General Motors from $40.00 to $38.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 25th. Finally, UBS Group decreased their price objective on shares of General Motors from $44.00 to $43.00 and set a “buy” rating for the company in a research report on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.67.
General Motors Price Performance
Shares of NYSE GM opened at $28.52 on Tuesday. The stock has a fifty day moving average price of $30.27 and a 200 day moving average price of $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 company has a market cap 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 – Get Free Report) (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, beating analysts’ consensus estimates of $1.87 by $0.41. The firm had revenue of $44.13 billion for the quarter, compared to the consensus estimate of $42.48 billion. General Motors had a return on equity of 16.01% and a net margin of 5.83%. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.25 earnings per share. Sell-side analysts forecast that General Motors will post 7.1 EPS for the current year.
General Motors Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Friday, December 1st will be issued a $0.09 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.36 dividend on an annualized basis and a yield of 1.26%. General Motors’s dividend payout ratio (DPR) is presently 5.06%.
General Motors 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.
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