Global X Management Co LLC boosted its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 99.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 65,156 shares of the auto manufacturer’s stock after buying an additional 32,515 shares during the period. Global X Management Co LLC’s holdings in General Motors were worth $2,567,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Qube Research & Technologies Ltd acquired a new stake in shares of General Motors in the second quarter valued at approximately $115,000. Stelac Advisory Services LLC acquired a new stake in shares of General Motors in the first quarter valued at approximately $119,000. MUFG Americas Holdings Corp acquired a new stake in shares of General Motors in the second quarter valued at approximately $123,000. Kaizen Advisory LLC raised its holdings in shares of General Motors by 163.6% in the second quarter. Kaizen Advisory LLC now owns 3,298 shares of the auto manufacturer’s stock valued at $130,000 after purchasing an additional 2,047 shares during the last quarter. Finally, CWM LLC raised its holdings in shares of General Motors by 108.4% in the second quarter. CWM LLC now owns 3,510 shares of the auto manufacturer’s stock valued at $138,000 after purchasing an additional 1,826 shares during the last quarter. Hedge funds and other institutional investors own 75.19% of the company’s stock.

NYSE:GM opened at $35.32 on Friday. General Motors has a 1-year low of $33.44 and a 1-year high of $46.76. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.88 and a quick ratio of 0.74. The firm has a market capitalization of $49.83 billion, a P/E ratio of 5.69, a PEG ratio of 0.73 and a beta of 1.56.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Wednesday, July 25th. The auto manufacturer reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.03. General Motors had a negative net margin of 3.26% and a positive return on equity of 23.39%. The business had revenue of $36.80 billion during the quarter, compared to analysts’ expectations of $36.62 billion. During the same period last year, the business earned $1.89 earnings per share. The firm’s revenue was down .5% on a year-over-year basis. sell-side analysts anticipate that General Motors will post 5.95 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 21st. Shareholders of record on Friday, September 7th were given a dividend of $0.38 per share. The ex-dividend date was Thursday, September 6th. This represents a $1.52 dividend on an annualized basis and a yield of 4.30%. General Motors’s dividend payout ratio (DPR) is 22.96%.

GM has been the topic of a number of recent research reports. Zacks Investment Research downgraded shares of General Motors from a “buy” rating to a “hold” rating in a report on Tuesday, June 19th. Bank of America reiterated a “buy” rating and issued a $60.00 price objective on shares of General Motors in a report on Wednesday, September 12th. Guggenheim reiterated a “buy” rating and issued a $52.00 price objective on shares of General Motors in a report on Friday, July 20th. Morgan Stanley lowered their price objective on shares of General Motors from $50.00 to $46.00 and set an “overweight” rating on the stock in a report on Friday, August 17th. Finally, ValuEngine downgraded shares of General Motors from a “hold” rating to a “sell” rating in a report on Tuesday, September 4th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the stock. General Motors presently has an average rating of “Hold” and a consensus target price of $47.26.

General Motors Company Profile

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.

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

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