MUFG Americas Holdings Corp Increases Stock Position in General Motors (NYSE:GM)

MUFG Americas Holdings Corp lifted its holdings in shares of General Motors (NYSE:GMGet Rating) (TSE:GMM.U) by 2,000.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,100 shares of the auto manufacturer’s stock after acquiring an additional 2,000 shares during the period. MUFG Americas Holdings Corp’s holdings in General Motors were worth $92,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of GM. CWM LLC purchased a new position in shares of General Motors during the fourth quarter worth approximately $903,000. Centaurus Financial Inc. grew its position in General Motors by 33.6% in the 4th quarter. Centaurus Financial Inc. now owns 13,978 shares of the auto manufacturer’s stock valued at $820,000 after buying an additional 3,516 shares during the last quarter. Quadrant Capital Group LLC grew its position in General Motors by 33.7% in the 4th quarter. Quadrant Capital Group LLC now owns 5,216 shares of the auto manufacturer’s stock valued at $306,000 after buying an additional 1,315 shares during the last quarter. FDx Advisors Inc. grew its position in General Motors by 18.8% in the 4th quarter. FDx Advisors Inc. now owns 19,966 shares of the auto manufacturer’s stock valued at $1,171,000 after buying an additional 3,158 shares during the last quarter. Finally, XML Financial LLC purchased a new position in General Motors in the 4th quarter valued at $247,000. 82.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of General Motors from $33.00 to $29.00 and set an “underweight” rating on the stock in a research report on Monday, July 11th. Wedbush reduced their target price on General Motors from $50.00 to $42.00 and set an “outperform” rating for the company in a report on Wednesday, July 27th. TheStreet downgraded General Motors from a “b-” rating to a “c+” rating in a report on Friday, May 20th. Benchmark reduced their target price on General Motors from $75.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, July 27th. Finally, JPMorgan Chase & Co. reduced their target price on General Motors from $75.00 to $71.00 in a report on Monday, April 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $54.94.

General Motors Trading Down 2.9 %

NYSE:GM opened at $36.23 on Friday. The stock has a fifty day simple moving average of $34.44 and a 200-day simple moving average of $40.61. General Motors has a 52-week low of $30.33 and a 52-week high of $67.21. The company has a market capitalization of $52.83 billion, a PE ratio of 6.87, a price-to-earnings-growth ratio of 0.55 and a beta of 1.27. The company has a quick ratio of 0.93, a current ratio of 1.15 and a debt-to-equity ratio of 1.14.

General Motors (NYSE:GMGet Rating) (TSE:GMM.U) last announced its earnings results on Tuesday, July 26th. The auto manufacturer reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.56 by ($0.42). General Motors had a net margin of 6.66% and a return on equity of 13.82%. The firm had revenue of $35.76 billion during the quarter, compared to analyst estimates of $34.35 billion. During the same period in the previous year, the firm posted $1.97 EPS. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, equities research analysts expect that General Motors will post 6.92 earnings per share for the current fiscal year.

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.

Further Reading

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

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