Cetera Investment Advisers lessened its holdings in General Motors (NYSE:GM – Free Report) (TSE:GMM.U) by 0.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 174,983 shares of the auto manufacturer’s stock after selling 799 shares during the quarter. Cetera Investment Advisers’ holdings in General Motors were worth $6,747,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the business. Signet Financial Management LLC raised its position in General Motors by 0.9% during the second quarter. Signet Financial Management LLC now owns 28,556 shares of the auto manufacturer’s stock valued at $1,101,000 after purchasing an additional 266 shares in the last quarter. AFS Financial Group LLC increased its stake in shares of General Motors by 2.3% in the 2nd quarter. AFS Financial Group LLC now owns 11,740 shares of the auto manufacturer’s stock valued at $453,000 after purchasing an additional 268 shares during the last quarter. Rothschild Investment Corp IL raised its holdings in shares of General Motors by 0.4% during the 2nd quarter. Rothschild Investment Corp IL now owns 67,950 shares of the auto manufacturer’s stock worth $2,620,000 after buying an additional 268 shares in the last quarter. Weik Capital Management lifted its position in shares of General Motors by 3.1% during the 1st quarter. Weik Capital Management now owns 9,075 shares of the auto manufacturer’s stock worth $397,000 after buying an additional 275 shares during the last quarter. Finally, RFG Advisory LLC boosted its stake in General Motors by 5.4% in the fourth quarter. RFG Advisory LLC now owns 5,520 shares of the auto manufacturer’s stock valued at $227,000 after buying an additional 281 shares in the last quarter. Institutional investors own 79.62% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on the stock. Mizuho dropped their target price on shares of General Motors from $40.00 to $38.00 and set a “neutral” rating for the company in a report on Wednesday, October 25th. Wells Fargo & Company dropped their price objective on shares of General Motors from $33.00 to $29.00 and set an “underweight” rating for the company in a research note on Tuesday, October 3rd. Morgan Stanley lowered their price target on shares of General Motors from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Friday, October 27th. StockNews.com started coverage on General Motors in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, TheStreet downgraded General Motors from a “b-” rating to a “c+” rating in a research report on Tuesday, October 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, General Motors presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.67.
General Motors Trading Down 2.3 %
NYSE:GM opened at $27.48 on Friday. General Motors has a 12 month low of $26.30 and a 12 month high of $43.63. The company has a current ratio of 1.14, a quick ratio of 0.96 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $37.63 billion, a price-to-earnings ratio of 3.86, a PEG ratio of 0.40 and a beta of 1.48. The firm has a fifty day simple moving average of $30.45 and a two-hundred day simple moving average of $33.79.
General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) last issued its earnings results on Tuesday, October 24th. The auto manufacturer reported $2.28 EPS for the quarter, beating the consensus estimate of $1.87 by $0.41. General Motors had a return on equity of 16.01% and a net margin of 5.83%. The company had revenue of $44.13 billion during the quarter, compared to the consensus estimate of $42.48 billion. During the same period last year, the business posted $2.25 EPS. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. Analysts expect that General Motors will post 7.1 EPS for the current fiscal year.
General Motors Dividend Announcement
The company also recently announced 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 1.31%. The ex-dividend date is Thursday, November 30th. General Motors’s dividend payout ratio is currently 5.06%.
About General Motors
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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