State Street Corp Decreases Position in General Motors (NYSE:GM)

State Street Corp trimmed its position in shares of General Motors (NYSE:GMGet Rating) (TSE:GMM.U) by 2.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 58,353,997 shares of the auto manufacturer’s stock after selling 1,474,004 shares during the quarter. State Street Corp’s holdings in General Motors were worth $2,552,404,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. purchased a new stake in General Motors during the first quarter worth $26,000. Penserra Capital Management LLC lifted its position in shares of General Motors by 85.8% in the first quarter. Penserra Capital Management LLC now owns 613 shares of the auto manufacturer’s stock valued at $26,000 after acquiring an additional 283 shares in the last quarter. SJS Investment Consulting Inc. lifted its position in shares of General Motors by 220.2% in the first quarter. SJS Investment Consulting Inc. now owns 602 shares of the auto manufacturer’s stock valued at $27,000 after acquiring an additional 414 shares in the last quarter. Tyler Stone Wealth Management purchased a new stake in shares of General Motors in the fourth quarter valued at $34,000. Finally, Tcwp LLC purchased a new stake in shares of General Motors in the first quarter valued at $34,000. 79.59% of the stock is currently owned by hedge funds and other institutional investors.

General Motors Stock Performance

Shares of NYSE:GM opened at $41.29 on Friday. The firm has a market capitalization of $60.20 billion, a PE ratio of 7.83, a P/E/G ratio of 0.62 and a beta of 1.23. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.15 and a quick ratio of 0.93. The business has a 50-day moving average of $36.44 and a two-hundred day moving average of $38.28. General Motors has a 12 month low of $30.33 and a 12 month high of $67.21.

General Motors (NYSE:GMGet Rating) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, July 26th. The auto manufacturer reported $1.14 EPS for the quarter, missing the consensus estimate of $1.56 by ($0.42). General Motors had a return on equity of 13.82% and a net margin of 6.66%. The firm had revenue of $35.76 billion for the quarter, compared to analyst estimates of $34.35 billion. During the same quarter in the prior year, the company earned $1.97 earnings per share. The business’s revenue was up 4.6% compared to the same quarter last year. As a group, research analysts forecast that General Motors will post 6.79 earnings per share for the current year.

General Motors Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st will be paid a $0.09 dividend. The ex-dividend date is Tuesday, August 30th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.87%. General Motors’s dividend payout ratio (DPR) is currently 6.83%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on GM shares. Wells Fargo & Company reduced their price objective on 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 price objective on General Motors from $50.00 to $42.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 27th. Wolfe Research upped their price objective on General Motors from $42.00 to $50.00 and gave the company an “outperform” rating in a research report on Tuesday, September 6th. Daiwa Capital Markets dropped their target price on General Motors to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. Finally, Citigroup dropped their target price on General Motors from $98.00 to $87.00 in a research note on Wednesday, June 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.78.

General Motors 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.

See Also

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

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