National Asset Management Inc. increased its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 250.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 53,836 shares of the auto manufacturer’s stock after purchasing an additional 38,474 shares during the period. National Asset Management Inc.’s holdings in General Motors were worth $1,120,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in GM. Norges Bank bought a new stake in General Motors in the fourth quarter worth $524,865,000. BlackRock Inc. increased its position in General Motors by 4.8% in the first quarter. BlackRock Inc. now owns 104,047,751 shares of the auto manufacturer’s stock worth $2,162,112,000 after purchasing an additional 4,719,148 shares during the last quarter. FMR LLC increased its position in General Motors by 35.5% in the fourth quarter. FMR LLC now owns 12,290,807 shares of the auto manufacturer’s stock worth $449,844,000 after purchasing an additional 3,218,806 shares during the last quarter. Janus Henderson Group PLC increased its position in General Motors by 49.6% during the fourth quarter. Janus Henderson Group PLC now owns 9,161,218 shares of the auto manufacturer’s stock valued at $335,304,000 after acquiring an additional 3,037,349 shares during the last quarter. Finally, Senator Investment Group LP bought a new position in General Motors during the fourth quarter valued at $91,500,000. Institutional investors own 76.06% of the company’s stock.
In other General Motors news, EVP Matthew Tsien acquired 22,400 shares of the stock in a transaction that occurred on Wednesday, March 25th. The stock was bought at an average cost of $22.97 per share, with a total value of $514,528.00. Following the completion of the purchase, the executive vice president now directly owns 62,234 shares in the company, valued at $1,429,514.98. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.51% of the stock is owned by corporate insiders.
A number of research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of General Motors from a “strong sell” rating to a “hold” rating and set a $18.00 price objective on the stock in a research report on Tuesday, March 17th. Bank of America cut their price objective on shares of General Motors from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Royal Bank of Canada reiterated a “buy” rating and set a $33.00 price objective on shares of General Motors in a research report on Thursday, May 7th. TheStreet cut shares of General Motors from a “b-” rating to a “c” rating in a research report on Wednesday, February 5th. Finally, Deutsche Bank upgraded shares of General Motors from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. General Motors presently has an average rating of “Hold” and an average target price of $33.47.
Shares of GM traded up $0.18 during trading hours on Friday, reaching $25.98. 14,313,052 shares of the company traded hands, compared to its average volume of 17,937,190. The firm has a market cap of $36.92 billion, a price-to-earnings ratio of 7.94, a PEG ratio of 1.82 and a beta of 1.38. General Motors has a 12-month low of $14.32 and a 12-month high of $41.90. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 1.84. The stock’s fifty day moving average price is $22.16 and its 200 day moving average price is $30.41.
General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Wednesday, May 6th. The auto manufacturer reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.32. General Motors had a net margin of 3.60% and a return on equity of 12.73%. The company had revenue of $32.71 billion during the quarter, compared to analyst estimates of $31.37 billion. During the same period in the prior year, the firm earned $1.41 earnings per share. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. On average, research analysts forecast that General Motors will post 1.44 earnings per share for the current 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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