General Motors (GM) Stake Lessened by Keybank National Association OH
Keybank National Association OH trimmed its position in General Motors (NYSE:GM) (TSE:GMM.U) by 3.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 162,719 shares of the auto manufacturer’s stock after selling 5,111 shares during the quarter. Keybank National Association OH’s holdings in General Motors were worth $6,037,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc lifted its holdings in shares of General Motors by 2.9% in the third quarter. Vanguard Group Inc now owns 96,849,509 shares of the auto manufacturer’s stock worth $3,260,923,000 after buying an additional 2,699,178 shares in the last quarter. Harris Associates L P lifted its holdings in shares of General Motors by 4.2% in the fourth quarter. Harris Associates L P now owns 62,412,310 shares of the auto manufacturer’s stock worth $2,087,691,000 after buying an additional 2,510,439 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of General Motors by 2,701.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 34,064,309 shares of the auto manufacturer’s stock worth $1,018,000 after buying an additional 32,848,376 shares in the last quarter. Greenhaven Associates Inc. purchased a new stake in General Motors in the first quarter valued at approximately $754,274,000. Finally, Geode Capital Management LLC raised its stake in General Motors by 8.1% in the fourth quarter. Geode Capital Management LLC now owns 16,309,521 shares of the auto manufacturer’s stock valued at $544,715,000 after purchasing an additional 1,217,986 shares in the last quarter. 85.02% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on GM. Zacks Investment Research downgraded shares of General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 10th. Nomura set a $42.00 target price on shares of General Motors and gave the company a “hold” rating in a research note on Thursday, May 2nd. Goldman Sachs Group reaffirmed a “neutral” rating and issued a $36.00 target price on shares of General Motors in a research note on Tuesday, March 26th. Seaport Global Securities began coverage on shares of General Motors in a research note on Wednesday, February 13th. They issued a “buy” rating on the stock. Finally, Royal Bank of Canada raised their target price on shares of General Motors from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday, February 7th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $47.60.
Shares of NYSE GM opened at $35.55 on Thursday. General Motors has a one year low of $30.56 and a one year high of $45.00. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 1.65. The company has a market cap of $52.66 billion, a price-to-earnings ratio of 5.44, a price-to-earnings-growth ratio of 0.63 and a beta of 1.27.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, April 30th. The auto manufacturer reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.32. General Motors had a net margin of 6.26% and a return on equity of 22.67%. The business had revenue of $34.88 billion for the quarter, compared to analysts’ expectations of $35.56 billion. During the same period last year, the business earned $1.43 earnings per share. The business’s quarterly revenue was down 3.4% on a year-over-year basis. As a group, sell-side analysts predict that General Motors will post 6.58 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date of this dividend is Thursday, June 6th. General Motors’s payout ratio is currently 23.24%.
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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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