Patriot Wealth Management Inc. raised its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 2.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 245,555 shares of the auto manufacturer’s stock after purchasing an additional 5,590 shares during the quarter. Patriot Wealth Management Inc.’s holdings in General Motors were worth $8,268,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Reliance Trust Co. of Delaware increased its position in General Motors by 17.5% during the second quarter. Reliance Trust Co. of Delaware now owns 9,679 shares of the auto manufacturer’s stock worth $382,000 after buying an additional 1,439 shares during the last quarter. BKD Wealth Advisors LLC boosted its holdings in General Motors by 1.9% during the first quarter. BKD Wealth Advisors LLC now owns 78,623 shares of the auto manufacturer’s stock valued at $2,857,000 after acquiring an additional 1,445 shares during the period. Stellar Capital Management LLC boosted its holdings in General Motors by 3.1% during the second quarter. Stellar Capital Management LLC now owns 52,472 shares of the auto manufacturer’s stock valued at $2,067,000 after acquiring an additional 1,555 shares during the period. NEXT Financial Group Inc boosted its holdings in General Motors by 9.4% during the first quarter. NEXT Financial Group Inc now owns 19,145 shares of the auto manufacturer’s stock valued at $696,000 after acquiring an additional 1,647 shares during the period. Finally, Affiance Financial LLC boosted its holdings in General Motors by 11.6% during the second quarter. Affiance Financial LLC now owns 16,270 shares of the auto manufacturer’s stock valued at $641,000 after acquiring an additional 1,693 shares during the period. 73.90% of the stock is currently owned by institutional investors.
A number of research firms have issued reports on GM. Citigroup upped their price target on shares of General Motors from $57.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday. Nomura dropped coverage on shares of General Motors in a report on Tuesday. Morgan Stanley increased their target price on shares of General Motors from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Tuesday. JPMorgan Chase & Co. reduced their target price on shares of General Motors from $58.00 to $54.00 and set an “overweight” rating for the company in a research note on Friday, July 27th. Finally, Royal Bank of Canada increased their target price on shares of General Motors from $52.00 to $53.00 and gave the company an “outperform” rating in a research note on Tuesday, July 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company. General Motors currently has a consensus rating of “Buy” and an average price target of $46.38.
NYSE:GM opened at $36.46 on Wednesday. General Motors has a 12-month low of $30.56 and a 12-month high of $45.52. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.89 and a quick ratio of 0.76. The stock has a market capitalization of $50.85 billion, a P/E ratio of 5.51, a price-to-earnings-growth ratio of 0.69 and a beta of 1.25.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Wednesday, October 31st. The auto manufacturer reported $1.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.62. The firm had revenue of $35.79 billion during the quarter, compared to analyst estimates of $34.85 billion. General Motors had a net margin of 0.56% and a return on equity of 25.81%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.32 earnings per share. Equities analysts predict that General Motors will post 6.12 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Friday, December 7th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 4.17%. The ex-dividend date is Thursday, December 6th. General Motors’s payout ratio is 22.96%.
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About General Motors
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.
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