General Motors Company (NYSE:GM) Holdings Cut by Picton Mahoney Asset Management

Picton Mahoney Asset Management reduced its position in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 97.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,848 shares of the auto manufacturer's stock after selling 232,627 shares during the period. Picton Mahoney Asset Management's holdings in General Motors were worth $275,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GM. Susquehanna Fundamental Investments LLC acquired a new stake in shares of General Motors in the 4th quarter valued at about $25,404,000. Cassia Capital Partners LLC raised its stake in shares of General Motors by 63.0% in the 1st quarter. Cassia Capital Partners LLC now owns 18,683 shares of the auto manufacturer's stock valued at $879,000 after purchasing an additional 7,221 shares in the last quarter. AustralianSuper Pty Ltd raised its stake in General Motors by 38.9% during the first quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer's stock worth $287,428,000 after acquiring an additional 1,712,033 shares during the period. Sowell Financial Services LLC acquired a new stake in General Motors during the first quarter worth about $312,000. Finally, Brown Advisory Inc. raised its stake in General Motors by 55.9% during the first quarter. Brown Advisory Inc. now owns 17,651 shares of the auto manufacturer's stock worth $830,000 after acquiring an additional 6,330 shares during the period. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Trading Down 1.5%

General Motors stock traded down $0.82 during midday trading on Friday, reaching $52.52. The stock had a trading volume of 9,539,407 shares, compared to its average volume of 10,055,104. The firm's fifty day simple moving average is $50.47 and its two-hundred day simple moving average is $48.80. General Motors Company has a twelve month low of $38.96 and a twelve month high of $61.24. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.22 and a quick ratio of 1.05. The firm has a market cap of $50.00 billion, a price-to-earnings ratio of 8.34, a PEG ratio of 1.13 and a beta of 1.35.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its quarterly earnings data on Tuesday, July 22nd. The auto manufacturer reported $2.53 EPS for the quarter, topping analysts' consensus estimates of $2.52 by $0.01. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The firm had revenue of $47.12 billion during the quarter, compared to analyst estimates of $45.87 billion. During the same quarter last year, the business posted $3.06 EPS. The company's revenue was down 1.8% on a year-over-year basis. Equities analysts anticipate that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, September 5th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.60 dividend on an annualized basis and a yield of 1.1%. General Motors's dividend payout ratio (DPR) is currently 9.52%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of General Motors from $56.00 to $60.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Deutsche Bank Aktiengesellschaft lowered shares of General Motors from a "buy" rating to a "hold" rating and set a $43.00 price objective on the stock. in a research note on Monday, April 14th. UBS Group raised their price target on shares of General Motors from $50.00 to $56.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. BNP Paribas upgraded shares of General Motors to a "strong-buy" rating in a research note on Monday, May 5th. Finally, Wedbush restated an "outperform" rating and issued a $55.00 price target on shares of General Motors in a research note on Wednesday, July 23rd. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $56.35.

General Motors Company Profile

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.