Asset Management One Co. Ltd. Boosts Stock Position in General Motors (NYSE:GM)

Asset Management One Co. Ltd. lifted its holdings in General Motors (NYSE:GMGet Rating) (TSE:GMM.U) by 5.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 653,959 shares of the auto manufacturer’s stock after purchasing an additional 35,782 shares during the quarter. Asset Management One Co. Ltd.’s holdings in General Motors were worth $20,985,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of GM. Northern Trust Corp boosted its stake in shares of General Motors by 2.3% during the second quarter. Northern Trust Corp now owns 13,955,204 shares of the auto manufacturer’s stock valued at $443,216,000 after purchasing an additional 311,856 shares during the period. Franklin Resources Inc. raised its holdings in General Motors by 19.5% in the second quarter. Franklin Resources Inc. now owns 11,512,388 shares of the auto manufacturer’s stock worth $365,633,000 after purchasing an additional 1,880,483 shares in the last quarter. Legal & General Group Plc raised its holdings in General Motors by 0.6% in the second quarter. Legal & General Group Plc now owns 9,694,750 shares of the auto manufacturer’s stock worth $307,906,000 after purchasing an additional 55,669 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in General Motors by 198.7% in the second quarter. Price T Rowe Associates Inc. MD now owns 9,456,923 shares of the auto manufacturer’s stock worth $300,352,000 after purchasing an additional 6,290,657 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of General Motors by 5.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 8,462,134 shares of the auto manufacturer’s stock worth $370,134,000 after acquiring an additional 462,539 shares during the last quarter. 78.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on GM shares. Daiwa Capital Markets boosted their price target on General Motors to $38.00 in a research note on Thursday, October 27th. Wolfe Research downgraded General Motors from an “outperform” rating to a “peer perform” rating in a research note on Thursday, November 10th. TheStreet raised General Motors from a “c+” rating to a “b-” rating in a research note on Thursday, November 10th. Royal Bank of Canada reduced their target price on General Motors from $45.00 to $44.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. Finally, Wells Fargo & Company upped their target price on General Motors from $29.00 to $30.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.74.

General Motors Stock Down 0.7 %

General Motors stock opened at $36.20 on Wednesday. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.14 and a quick ratio of 0.95. General Motors has a 1-year low of $30.33 and a 1-year high of $55.55. The company has a market cap of $51.43 billion, a PE ratio of 6.14, a price-to-earnings-growth ratio of 0.66 and a beta of 1.33. The stock’s 50 day moving average price is $37.01 and its 200 day moving average price is $36.91.

General Motors (NYSE:GMGet Rating) (TSE:GMM.U) last posted its earnings results on Tuesday, October 25th. The auto manufacturer reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.36. The company had revenue of $41.89 billion for the quarter, compared to the consensus estimate of $42.05 billion. General Motors had a return on equity of 14.88% and a net margin of 6.57%. General Motors’s quarterly revenue was up 56.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.52 earnings per share. On average, sell-side analysts predict that General Motors will post 7.1 EPS for the current fiscal year.

About General Motors

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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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