Meitav Dash Investments Ltd. reduced its position in General Motors (NYSE:GM) (TSE:GMM.U) by 23.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,760 shares of the auto manufacturer’s stock after selling 7,185 shares during the period. Meitav Dash Investments Ltd.’s holdings in General Motors were worth $601,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Advisory Alpha LLC lifted its stake in shares of General Motors by 76.9% during the 1st quarter. Advisory Alpha LLC now owns 1,159 shares of the auto manufacturer’s stock valued at $25,000 after buying an additional 504 shares in the last quarter. HHM Wealth Advisors LLC purchased a new position in shares of General Motors during the 1st quarter valued at $25,000. Howe & Rusling Inc. lifted its stake in shares of General Motors by 246.3% during the 1st quarter. Howe & Rusling Inc. now owns 1,385 shares of the auto manufacturer’s stock valued at $29,000 after buying an additional 985 shares in the last quarter. Whittier Trust Co. lifted its stake in shares of General Motors by 238.2% during the 1st quarter. Whittier Trust Co. now owns 1,488 shares of the auto manufacturer’s stock valued at $31,000 after buying an additional 1,048 shares in the last quarter. Finally, PrairieView Partners LLC purchased a new position in shares of General Motors during the 1st quarter valued at $39,000. Institutional investors own 75.41% of the company’s stock.
NYSE:GM traded down $0.29 during mid-day trading on Thursday, hitting $28.93. 342,451 shares of the stock traded hands, compared to its average volume of 14,688,246. The stock has a market capitalization of $42.70 billion, a price-to-earnings ratio of 28.42, a PEG ratio of 1.24 and a beta of 1.37. General Motors has a 52 week low of $14.32 and a 52 week high of $39.78. The firm’s 50 day moving average is $26.20 and its two-hundred day moving average is $26.19. The company has a quick ratio of 0.99, a current ratio of 1.12 and a debt-to-equity ratio of 2.00.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Wednesday, July 29th. The auto manufacturer reported ($0.50) EPS for the quarter, beating the consensus estimate of ($1.72) by $1.22. The company had revenue of $16.80 billion for the quarter, compared to the consensus estimate of $16.93 billion. General Motors had a net margin of 1.46% and a return on equity of 6.27%. The firm’s revenue was down 53.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.64 EPS. As a group, research analysts predict that General Motors will post 2.44 EPS for the current year.
Several brokerages have commented on GM. Royal Bank of Canada reiterated a “buy” rating and issued a $33.00 price target on shares of General Motors in a research note on Thursday, May 7th. Morgan Stanley boosted their price target on shares of General Motors from $43.00 to $46.00 and gave the stock an “overweight” rating in a research note on Tuesday. Citigroup boosted their price target on shares of General Motors from $53.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Goldman Sachs Group upgraded shares of General Motors from a “neutral” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Thursday, June 11th. Finally, Nomura Instinet decreased their price target on shares of General Motors from $36.00 to $23.00 and set a “neutral” rating on the stock in a research note on Monday, May 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $34.71.
In related news, EVP Julian G. Blissett bought 9,300 shares of the company’s stock in a transaction on Friday, May 29th. The shares were acquired at an average cost of $26.00 per share, for a total transaction of $241,800.00. Following the purchase, the executive vice president now directly owns 22,130 shares of the company’s stock, valued at $575,380. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 0.65% of the stock is owned by corporate insiders.
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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