General Motors (GM) Position Reduced by Xact Kapitalforvaltning AB

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Xact Kapitalforvaltning AB decreased its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 6.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 239,283 shares of the auto manufacturer’s stock after selling 16,919 shares during the period. Xact Kapitalforvaltning AB’s holdings in General Motors were worth $8,057,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its stake in General Motors by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 14,890,898 shares of the auto manufacturer’s stock worth $586,820,000 after purchasing an additional 81,468 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in General Motors by 20.0% in the second quarter. Bank of New York Mellon Corp now owns 14,355,956 shares of the auto manufacturer’s stock worth $565,624,000 after purchasing an additional 2,394,922 shares in the last quarter. Northern Trust Corp boosted its stake in General Motors by 0.3% in the second quarter. Northern Trust Corp now owns 13,720,539 shares of the auto manufacturer’s stock worth $540,590,000 after purchasing an additional 43,643 shares in the last quarter. LSV Asset Management boosted its stake in General Motors by 4.9% in the second quarter. LSV Asset Management now owns 11,743,616 shares of the auto manufacturer’s stock worth $462,698,000 after purchasing an additional 543,631 shares in the last quarter. Finally, Ashler Capital LLC boosted its stake in General Motors by 14.7% in the second quarter. Ashler Capital LLC now owns 6,365,080 shares of the auto manufacturer’s stock worth $250,784,000 after purchasing an additional 816,602 shares in the last quarter. 75.25% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have commented on GM shares. ValuEngine lowered General Motors from a “buy” rating to a “hold” rating in a research note on Thursday, June 21st. Zacks Investment Research raised General Motors from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research note on Thursday, June 28th. Royal Bank of Canada boosted their price objective on General Motors from $52.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 10th. Guggenheim reissued a “buy” rating and issued a $52.00 price objective on shares of General Motors in a research note on Friday, July 20th. Finally, Piper Jaffray Companies set a $51.00 price objective on General Motors and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $46.83.

Shares of GM stock traded up $0.07 on Friday, reaching $31.15. 145,677 shares of the stock were exchanged, compared to its average volume of 15,473,328. The company has a market cap of $45.05 billion, a P/E ratio of 4.73, a PEG ratio of 0.66 and a beta of 1.55. General Motors has a one year low of $30.97 and a one year 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.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Wednesday, July 25th. The auto manufacturer reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.03. The company 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 firm’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.89 earnings per share. As a group, equities research analysts anticipate that General Motors will post 5.94 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 21st. Stockholders of record on Friday, September 7th were given a dividend of $0.38 per share. The ex-dividend date was Thursday, September 6th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.88%. General Motors’s payout ratio is currently 22.96%.

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

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