NewSquare Capital LLC increased its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 12.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,525 shares of the auto manufacturer’s stock after purchasing an additional 5,099 shares during the quarter. NewSquare Capital LLC’s holdings in General Motors were worth $1,533,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Qube Research & Technologies Ltd acquired a new position in shares of General Motors during the 2nd quarter worth about $115,000. MUFG Americas Holdings Corp acquired a new position in shares of General Motors during the 2nd quarter worth about $123,000. TRUE Private Wealth Advisors acquired a new position in shares of General Motors during the 3rd quarter worth about $106,000. Kaizen Advisory LLC boosted its position in shares of General Motors by 163.6% during the 2nd quarter. Kaizen Advisory LLC now owns 3,298 shares of the auto manufacturer’s stock worth $130,000 after acquiring an additional 2,047 shares in the last quarter. Finally, CWM LLC boosted its position in shares of General Motors by 108.4% during the 2nd quarter. CWM LLC now owns 3,510 shares of the auto manufacturer’s stock worth $138,000 after acquiring an additional 1,826 shares in the last quarter. 75.25% of the stock is owned by hedge funds and other institutional investors.
General Motors stock opened at $31.20 on Friday. General Motors has a fifty-two week low of $30.57 and a fifty-two week high of $46.76. The company has a quick ratio of 0.74, a current ratio of 0.88 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $43.85 billion, a PE ratio of 5.00, a PEG ratio of 0.64 and a beta of 1.55.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Wednesday, July 25th. The auto manufacturer reported $1.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.03. The business had revenue of $36.80 billion during the quarter, compared to the consensus estimate of $36.62 billion. General Motors had a positive return on equity of 23.39% and a negative net margin of 3.26%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the business earned $1.89 EPS. On average, equities research analysts expect that General Motors will post 5.94 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 21st. Shareholders of record on Friday, September 7th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 4.87%. The ex-dividend date was Thursday, September 6th. General Motors’s dividend payout ratio is presently 22.96%.
Several research analysts have recently issued reports on GM shares. Citigroup lowered their price objective on General Motors to $60.00 and set a “buy” rating for the company in a research report on Thursday, July 26th. Morgan Stanley lowered their price objective on General Motors from $50.00 to $46.00 and set an “overweight” rating for the company in a research report on Friday, August 17th. Zacks Investment Research downgraded General Motors from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 5th. Goldman Sachs Group set a $36.00 target price on General Motors and gave the company a “neutral” rating in a report on Tuesday, September 11th. Finally, Bank of America reissued a “buy” rating and issued a $60.00 target price on shares of General Motors in a report on Wednesday, September 12th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $46.83.
General Motors Company Profile
General Motors Company, together with its subsidiaries, designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
See Also: Exchange-Traded Funds (ETFs)
Want to see what other hedge funds are holding GM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Motors (NYSE:GM) (TSE:GMM.U).
Receive News & Ratings for General Motors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Motors and related companies with MarketBeat.com's FREE daily email newsletter.