IFM Investors Pty Ltd Boosts Stake in General Motors (GM)

IFM Investors Pty Ltd lifted its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 9.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 72,963 shares of the auto manufacturer’s stock after purchasing an additional 6,290 shares during the period. IFM Investors Pty Ltd’s holdings in General Motors were worth $2,441,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Cornerstone Advisors Inc. raised its position in General Motors by 63.0% during the 4th quarter. Cornerstone Advisors Inc. now owns 895 shares of the auto manufacturer’s stock worth $30,000 after buying an additional 346 shares during the last quarter. Capital Investment Advisors LLC raised its position in General Motors by 2.3% during the 4th quarter. Capital Investment Advisors LLC now owns 15,927 shares of the auto manufacturer’s stock worth $533,000 after buying an additional 361 shares during the last quarter. Quadrant Capital Group LLC raised its position in General Motors by 15.4% during the 4th quarter. Quadrant Capital Group LLC now owns 3,432 shares of the auto manufacturer’s stock worth $101,000 after buying an additional 458 shares during the last quarter. First Hawaiian Bank raised its position in General Motors by 6.1% during the 4th quarter. First Hawaiian Bank now owns 9,142 shares of the auto manufacturer’s stock worth $306,000 after buying an additional 524 shares during the last quarter. Finally, NuWave Investment Management LLC raised its position in General Motors by 198.6% during the 4th quarter. NuWave Investment Management LLC now owns 884 shares of the auto manufacturer’s stock worth $30,000 after buying an additional 588 shares during the last quarter. 74.21% of the stock is currently owned by institutional investors.

A number of equities analysts have recently weighed in on GM shares. Zacks Investment Research raised shares of General Motors from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Friday, November 16th. Morgan Stanley upped their price target on shares of General Motors from $43.00 to $44.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 6th. Citigroup lowered their price target on shares of General Motors from $60.00 to $57.00 and set a “buy” rating on the stock in a research note on Thursday, October 4th. 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. Finally, Royal Bank of Canada upped their price target on shares of General Motors from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, January 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. General Motors currently has an average rating of “Buy” and a consensus target price of $45.68.

NYSE GM traded down $0.48 during mid-day trading on Wednesday, hitting $37.67. The company’s stock had a trading volume of 7,407,543 shares, compared to its average volume of 10,662,548. General Motors has a 52-week low of $30.56 and a 52-week high of $45.00. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.76 and a current ratio of 0.89. The firm has a market capitalization of $54.49 billion, a price-to-earnings ratio of 5.69, a PEG ratio of 0.73 and a beta of 1.22.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Wednesday, October 31st. The auto manufacturer reported $1.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.62. General Motors had a net margin of 0.56% and a return on equity of 25.81%. The firm had revenue of $35.79 billion for the quarter, compared to analyst estimates of $34.85 billion. During the same quarter last year, the firm posted $1.32 earnings per share. General Motors’s revenue for the quarter was up 6.4% compared to the same quarter last year. Sell-side analysts forecast that General Motors will post 6.3 EPS for the current fiscal year.

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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.

Further Reading: What is the Coverage Ratio?

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

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