Swiss National Bank Cuts Stock Position in General Motors Company (NYSE:GM)

Key Points

• The Swiss National Bank reduced its holdings in General Motors (GM) by 2.3%, now owning approximately 3.1 million shares valued at about $145.85 million.
• Several institutional investors, including Vanguard Group and Assenagon Asset Management, increased their stakes in GM, indicating confidence in the company's prospects.
• General Motors reported quarterly earnings of $2.53 per share and revenue of $47.12 billion, surpassing analyst expectations while experiencing a year-over-year revenue decline of 1.8%.

Swiss National Bank lessened its holdings in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 2.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,101,300 shares of the auto manufacturer's stock after selling 73,800 shares during the period. Swiss National Bank owned 0.32% of General Motors worth $145,854,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Operose Advisors LLC boosted its holdings in shares of General Motors by 18.7% during the 4th quarter. Operose Advisors LLC now owns 1,413 shares of the auto manufacturer's stock valued at $75,000 after acquiring an additional 223 shares during the last quarter. Bessemer Group Inc. lifted its position in General Motors by 0.4% during the fourth quarter. Bessemer Group Inc. now owns 53,619 shares of the auto manufacturer's stock valued at $2,856,000 after purchasing an additional 226 shares during the period. Hohimer Wealth Management LLC lifted its position in General Motors by 0.3% during the first quarter. Hohimer Wealth Management LLC now owns 70,377 shares of the auto manufacturer's stock valued at $3,310,000 after purchasing an additional 230 shares during the period. HHM Wealth Advisors LLC lifted its position in General Motors by 14.4% during the first quarter. HHM Wealth Advisors LLC now owns 1,838 shares of the auto manufacturer's stock valued at $86,000 after purchasing an additional 232 shares during the period. Finally, Aaron Wealth Advisors LLC lifted its position in General Motors by 3.6% during the first quarter. Aaron Wealth Advisors LLC now owns 6,709 shares of the auto manufacturer's stock valued at $316,000 after purchasing an additional 235 shares during the period. Institutional investors own 92.67% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GM. Wells Fargo & Company upped their price target on shares of General Motors from $34.00 to $38.00 and gave the company an "underweight" rating in a research report on Wednesday, July 23rd. Industrial Alliance Securities set a $70.00 price target on shares of General Motors in a research report on Friday, July 11th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of General Motors in a research report on Thursday, July 24th. Wedbush reaffirmed an "outperform" rating and set a $55.00 price target on shares of General Motors in a research report on Wednesday, July 23rd. Finally, CLSA raised shares of General Motors to a "moderate buy" rating in a research report on Monday, July 7th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $57.53.

General Motors Price Performance

GM traded up $0.57 during trading on Friday, reaching $53.52. 4,125,133 shares of the company traded hands, compared to its average volume of 10,127,242. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.05 and a current ratio of 1.22. General Motors Company has a 12-month low of $41.60 and a 12-month high of $61.24. The firm has a fifty day simple moving average of $50.95 and a 200 day simple moving average of $48.78. The company has a market cap of $50.96 billion, a P/E ratio of 8.50, a PEG ratio of 1.13 and a beta of 1.36.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 EPS for the quarter, beating analysts' consensus estimates of $2.52 by $0.01. The firm had revenue of $47.12 billion during the quarter, compared to the consensus estimate of $45.87 billion. General Motors had a return on equity of 12.98% and a net margin of 2.54%. The company's quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the company earned $3.06 EPS. On average, equities analysts forecast that General Motors Company will post 11.44 EPS for the current year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, September 5th will be given a $0.15 dividend. The ex-dividend date 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%.

Insider Transactions at General Motors

In other news, EVP Rory Harvey sold 23,977 shares of General Motors stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $53.01, for a total transaction of $1,271,020.77. Following the completion of the sale, the executive vice president directly owned 8,513 shares in the company, valued at approximately $451,274.13. This trade represents a 73.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.54% of the stock is currently owned by corporate insiders.

About General Motors

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.