Invesco Ltd. Grows Stock Holdings in General Motors (NYSE:GM)

Invesco Ltd. raised its position in shares of General Motors (NYSE:GMGet Rating) (TSE:GMM.U) by 2.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,352,469 shares of the auto manufacturer’s stock after buying an additional 784,441 shares during the period. Invesco Ltd.’s holdings in General Motors were worth $1,502,578,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Tyler Stone Wealth Management purchased a new position in General Motors in the fourth quarter valued at $34,000. Benjamin F. Edwards & Company Inc. purchased a new position in General Motors in the first quarter valued at $26,000. SJS Investment Consulting Inc. boosted its holdings in 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 purchasing an additional 414 shares during the period. Penserra Capital Management LLC boosted its holdings in 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 purchasing an additional 283 shares during the period. Finally, IronBridge Private Wealth LLC purchased a new position in General Motors in the fourth quarter valued at $38,000. 79.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GM shares. Deutsche Bank Aktiengesellschaft lowered General Motors from a “buy” rating to a “hold” rating in a report on Monday, July 18th. Citigroup cut their price target on General Motors from $98.00 to $87.00 in a research note on Wednesday, June 1st. TheStreet cut General Motors from a “b-” rating to a “c+” rating in a research note on Friday, May 20th. Morgan Stanley cut their price target on General Motors from $44.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 14th. Finally, Benchmark cut their price target on General Motors from $75.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $55.78.

General Motors Stock Performance

NYSE GM opened at $41.29 on Friday. 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 has a 52-week low of $30.33 and a 52-week high of $67.21. The business’s 50-day moving average price is $36.44 and its 200 day moving average price is $38.34. The firm has a market cap of $60.20 billion, a P/E ratio of 7.83, a P/E/G ratio of 0.60 and a beta of 1.23.

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

General Motors Cuts Dividend

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

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.

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

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