General Motors (NYSE:GM) Stock Holdings Lessened by CIBC Asset Management Inc

CIBC Asset Management Inc trimmed its stake in shares of General Motors (NYSE:GMGet Rating) (TSE:GMM.U) by 16.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 147,210 shares of the auto manufacturer’s stock after selling 29,035 shares during the period. CIBC Asset Management Inc’s holdings in General Motors were worth $6,439,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of GM. Northeast Investment Management raised its holdings in General Motors by 3.6% in the fourth quarter. Northeast Investment Management now owns 5,780 shares of the auto manufacturer’s stock worth $339,000 after purchasing an additional 200 shares during the period. Wade G W & Inc. lifted its holdings in General Motors by 4.9% during the fourth quarter. Wade G W & Inc. now owns 4,389 shares of the auto manufacturer’s stock worth $257,000 after acquiring an additional 206 shares in the last quarter. Rehmann Capital Advisory Group grew its stake in General Motors by 3.8% in the fourth quarter. Rehmann Capital Advisory Group now owns 6,606 shares of the auto manufacturer’s stock valued at $387,000 after acquiring an additional 243 shares during the period. Optimum Investment Advisors increased its holdings in shares of General Motors by 62.5% in the fourth quarter. Optimum Investment Advisors now owns 650 shares of the auto manufacturer’s stock worth $38,000 after acquiring an additional 250 shares in the last quarter. Finally, Lindbrook Capital LLC raised its position in shares of General Motors by 8.6% during the first quarter. Lindbrook Capital LLC now owns 3,179 shares of the auto manufacturer’s stock worth $139,000 after purchasing an additional 252 shares during the period. Institutional investors and hedge funds own 82.66% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on GM shares. Citigroup dropped their target price on shares of General Motors from $98.00 to $87.00 in a report on Wednesday, June 1st. BNP Paribas initiated coverage on General Motors in a report on Monday, April 11th. They set an “outperform” rating for the company. Wedbush cut their price target on General Motors from $50.00 to $42.00 and set an “outperform” rating on the stock in a report on Wednesday, July 27th. Deutsche Bank Aktiengesellschaft cut General Motors from a “buy” rating to a “hold” rating in a research note on Monday, July 18th. Finally, Morgan Stanley decreased their price target on shares of General Motors from $44.00 to $42.00 and set an “equal weight” rating for the company in a research note on Thursday, July 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.94.

General Motors Price Performance

Shares of GM opened at $36.23 on Friday. The firm has a market capitalization of $52.83 billion, a PE ratio of 6.87, a PEG ratio of 0.55 and a beta of 1.27. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.15 and a quick ratio of 0.93. The company’s 50-day moving average is $34.44 and its 200-day moving average is $40.61. General Motors has a fifty-two week low of $30.33 and a fifty-two week high of $67.21.

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 for the quarter, missing the consensus estimate of $1.56 by ($0.42). General Motors had a net margin of 6.66% and a return on equity of 13.82%. The company had revenue of $35.76 billion during the quarter, compared to the consensus estimate of $34.35 billion. During the same period in the prior year, the company earned $1.97 earnings per share. The firm’s revenue was up 4.6% compared to the same quarter last year. Equities analysts forecast that General Motors will post 6.92 EPS for the current year.

General Motors Company 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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