Wedge Capital Management L L P NC boosted its position in shares of General Motors (NYSE:GM – Get Rating) (TSE:GMM.U) by 3.1% in the second quarter, Holdings Channel.com reports. The firm owned 132,711 shares of the auto manufacturer’s stock after acquiring an additional 3,961 shares during the period. Wedge Capital Management L L P NC’s holdings in General Motors were worth $4,215,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the company. Capital International Investors grew its holdings in shares of 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 acquiring an additional 13,676,219 shares in the last quarter. Norges Bank bought a new position in shares of General Motors in the 4th quarter valued at about $711,435,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of 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 acquiring an additional 6,034,872 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of General Motors by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 105,196,379 shares of the auto manufacturer’s stock valued at $4,601,291,000 after acquiring an additional 2,472,288 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in General Motors by 1,257.3% in the 1st quarter. Renaissance Technologies LLC now owns 2,368,500 shares of the auto manufacturer’s stock valued at $103,598,000 after purchasing an additional 2,194,000 shares during the last quarter. Institutional investors own 79.59% of the company’s stock.
Analyst Upgrades and Downgrades
GM has been the subject of several recent analyst reports. Bank of America cut their target price on shares of General Motors from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, September 9th. The Goldman Sachs Group cut their target price on shares of General Motors from $59.00 to $46.00 and set a “buy” rating for the company in a research note on Wednesday, June 1st. Benchmark cut their target price on shares of General Motors from $75.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. Wells Fargo & Company cut their target price on shares of General Motors from $33.00 to $29.00 and set an “underweight” rating for the company in a research note on Monday, July 11th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of General Motors from a “buy” rating to a “hold” rating in a research report on Monday, July 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $55.78.
General Motors Stock Down 5.6 %
General Motors (NYSE:GM – Get Rating) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, July 26th. The auto manufacturer reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.42). The firm had revenue of $35.76 billion during the quarter, compared to the consensus estimate of $34.35 billion. General Motors had a net margin of 6.66% and a return on equity of 13.82%. The business’s revenue was up 4.6% compared to the same quarter last year. During the same period last year, the business earned $1.97 earnings per share. Equities research analysts forecast that General Motors will post 6.79 EPS for the current year.
General Motors Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were paid a $0.09 dividend. The ex-dividend date was Tuesday, August 30th. This represents a $0.36 dividend on an annualized basis and a yield of 0.92%. General Motors’s dividend payout ratio (DPR) is 6.83%.
General Motors Profile
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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