Pinnacle Financial Partners Inc. Has $427,000 Holdings in General Motors (GM)

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Pinnacle Financial Partners Inc. raised its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 52.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 12,775 shares of the auto manufacturer’s stock after buying an additional 4,376 shares during the period. Pinnacle Financial Partners Inc.’s holdings in General Motors were worth $427,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. lifted its stake in General Motors by 9.4% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 129,361 shares of the auto manufacturer’s stock valued at $4,356,000 after buying an additional 11,139 shares in the last quarter. MML Investors Services LLC lifted its stake in General Motors by 67.4% during the third quarter. MML Investors Services LLC now owns 110,433 shares of the auto manufacturer’s stock valued at $3,718,000 after buying an additional 44,449 shares in the last quarter. Kingstown Capital Management L.P. lifted its stake in General Motors by 6.7% during the third quarter. Kingstown Capital Management L.P. now owns 1,600,000 shares of the auto manufacturer’s stock valued at $53,872,000 after buying an additional 100,000 shares in the last quarter. Nikko Asset Management Americas Inc. lifted its stake in General Motors by 21.6% during the third quarter. Nikko Asset Management Americas Inc. now owns 346,829 shares of the auto manufacturer’s stock valued at $11,868,000 after buying an additional 61,723 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board lifted its stake in General Motors by 62.6% during the third quarter. Ontario Teachers Pension Plan Board now owns 222,075 shares of the auto manufacturer’s stock valued at $7,477,000 after buying an additional 85,458 shares in the last quarter. 75.55% of the stock is owned by institutional investors.

GM has been the subject of a number of analyst reports. Barclays reaffirmed a “buy” rating and set a $49.00 price objective on shares of General Motors in a research note on Monday, January 14th. BMO Capital Markets raised shares of General Motors from a “market perform” rating to an “outperform” rating in a research note on Monday, January 7th. JPMorgan Chase & Co. upped their price objective on shares of General Motors from $48.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, November 27th. Royal Bank of Canada increased their price target on shares of General Motors from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, January 14th. Finally, Citigroup increased their price target on shares of General Motors from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, November 6th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. General Motors currently has an average rating of “Buy” and an average price target of $46.97.

NYSE GM opened at $38.70 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.92 and a debt-to-equity ratio of 1.71. The company has a market capitalization of $54.48 billion, a PE ratio of 5.92, a P/E/G ratio of 0.72 and a beta of 1.26. General Motors has a 52-week low of $30.56 and a 52-week high of $45.00.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Wednesday, February 6th. The auto manufacturer reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.22. The business had revenue of $38.40 billion during the quarter, compared to analyst estimates of $36.31 billion. General Motors had a net margin of 5.45% and a return on equity of 23.99%. The firm’s revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.65 earnings per share. Sell-side analysts predict that General Motors will post 6.32 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 22nd. Stockholders of record on Friday, March 8th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date of this dividend is Thursday, March 7th. General Motors’s dividend payout ratio (DPR) is 23.24%.

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

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