General Motors (NYSE:GM) Holdings Cut by Ninety One North America Inc.

Ninety One North America Inc. decreased its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 1.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,362 shares of the auto manufacturer’s stock after selling 936 shares during the quarter. Ninety One North America Inc.’s holdings in General Motors were worth $3,039,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Eagle Bay Advisors LLC acquired a new position in shares of General Motors during the 2nd quarter worth $25,000. Accel Wealth Management grew its stake in General Motors by 1,510.3% in the 2nd quarter. Accel Wealth Management now owns 467 shares of the auto manufacturer’s stock valued at $28,000 after buying an additional 438 shares during the last quarter. Aspire Private Capital LLC grew its stake in General Motors by 484.7% in the 1st quarter. Aspire Private Capital LLC now owns 497 shares of the auto manufacturer’s stock valued at $29,000 after buying an additional 412 shares during the last quarter. Godsey & Gibb Associates acquired a new position in General Motors in the 1st quarter valued at $29,000. Finally, Stonebridge Capital Advisors LLC acquired a new position in General Motors in the 1st quarter valued at $29,000. Institutional investors own 79.91% of the company’s stock.

Shares of GM stock opened at $52.23 on Monday. The company’s fifty day simple moving average is $52.07 and its 200-day simple moving average is $56.21. The company has a quick ratio of 0.93, a current ratio of 1.10 and a debt-to-equity ratio of 1.33. The firm has a market cap of $75.82 billion, a PE ratio of 6.05, a P/E/G ratio of 0.81 and a beta of 1.28. General Motors has a 12 month low of $28.50 and a 12 month high of $64.30.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Wednesday, August 4th. The auto manufacturer reported $1.97 EPS for the quarter, topping the Zacks’ consensus estimate of $1.89 by $0.08. The business had revenue of $34.20 billion for the quarter, compared to analyst estimates of $29.66 billion. General Motors had a net margin of 9.13% and a return on equity of 25.11%. The firm’s revenue for the quarter was up 103.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.50) earnings per share. On average, equities analysts predict that General Motors will post 6.2 earnings per share for the current fiscal year.

A number of research analysts recently issued reports on the stock. Credit Suisse Group lowered their target price on shares of General Motors from $77.00 to $75.00 and set an “outperform” rating on the stock in a research note on Thursday, August 5th. Wells Fargo & Company reduced their price objective on shares of General Motors from $67.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, September 10th. Wedbush assumed coverage on shares of General Motors in a report on Thursday, July 8th. They set an “outperform” rating and a $85.00 price target for the company. The Goldman Sachs Group cut their price target on shares of General Motors from $62.00 to $59.00 and set a “buy” rating for the company in a report on Sunday. Finally, Zacks Investment Research downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target for the company. in a report on Monday, August 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $68.27.

General Motors Company Profile

General Motors Co engages in the designing, manufacturing, and selling of cars, trucks and automobile parts. It also provides automotive financing services through General Motors Financial Company, Inc The firm operates through the following segments: GM North America, GM International, Cruise and GM Financial.

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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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