Varma Mutual Pension Insurance Co Reduces Position in General Motors (NYSE:GM)

Varma Mutual Pension Insurance Co cut its position in shares of General Motors (NYSE:GMGet Rating) (TSE:GMM.U) by 26.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 125,000 shares of the auto manufacturer’s stock after selling 44,023 shares during the period. Varma Mutual Pension Insurance Co’s holdings in General Motors were worth $3,970,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of General Motors by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 105,196,379 shares of the auto manufacturer’s stock worth $4,601,291,000 after purchasing an additional 2,472,288 shares during the period. Invesco Ltd. boosted its position in General Motors by 2.3% in the 1st quarter. Invesco Ltd. now owns 34,352,469 shares of the auto manufacturer’s stock valued at $1,502,578,000 after buying an additional 784,441 shares during the period. Capital International Investors boosted its position in General Motors by 66.8% in the 1st quarter. Capital International Investors now owns 22,826,087 shares of the auto manufacturer’s stock valued at $998,499,000 after buying an additional 9,143,601 shares during the period. Dimensional Fund Advisors LP boosted its position in General Motors by 1.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,829,964 shares of the auto manufacturer’s stock valued at $561,331,000 after buying an additional 157,052 shares during the period. Finally, Franklin Resources Inc. boosted its position in General Motors by 19.5% in the 2nd quarter. Franklin Resources Inc. now owns 11,512,388 shares of the auto manufacturer’s stock valued at $365,633,000 after buying an additional 1,880,483 shares during the period. 79.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GM has been the subject of several research reports. JPMorgan Chase & Co. boosted their price objective on shares of General Motors from $58.00 to $59.00 and gave the company an “overweight” rating in a research report on Wednesday, October 26th. TheStreet raised shares of General Motors from a “c+” rating to a “b-” rating in a research report on Thursday, November 10th. Royal Bank of Canada reduced their price target on shares of General Motors from $45.00 to $44.00 and set an “outperform” rating for the company in a report on Wednesday, October 26th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of General Motors from $36.00 to $35.00 and set a “hold” rating for the company in a report on Wednesday, October 26th. Finally, Morgan Stanley boosted their price target on shares of General Motors from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, October 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, General Motors has an average rating of “Moderate Buy” and a consensus target price of $51.74.

General Motors Stock Performance

General Motors stock traded up $0.14 during mid-day trading on Thursday, reaching $40.11. 9,097,035 shares of the company traded hands, compared to its average volume of 14,222,566. 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 fifty-two week low of $30.33 and a fifty-two week high of $67.21. The company has a market capitalization of $56.98 billion, a price-to-earnings ratio of 6.80, a price-to-earnings-growth ratio of 0.58 and a beta of 1.30. The firm’s fifty day moving average is $36.85 and its two-hundred day moving average is $36.43.

General Motors (NYSE:GMGet Rating) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, October 25th. The auto manufacturer reported $2.25 EPS for the quarter, beating the consensus estimate of $1.88 by $0.37. The business had revenue of $41.89 billion for the quarter, compared to the consensus estimate of $42.05 billion. General Motors had a net margin of 6.57% and a return on equity of 14.88%. The business’s revenue for the quarter was up 56.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.52 EPS. On average, equities research analysts expect that General Motors will post 7.05 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Friday, December 2nd will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Thursday, December 1st. General Motors’s dividend payout ratio (DPR) is currently 6.10%.

General Motors Company Profile

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General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts and accessories in North America, the Asia Pacific, the Middle East, Africa, South America, the United States, and China. The company operates through GM North America, GM International, Cruise, and GM Financial segments.

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

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