Worldquant Millennium Quantitative Strategies LLC bought a new stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) during the second quarter, Holdings Channel reports. The fund bought 143,909 shares of the auto manufacturer’s stock, valued at approximately $5,670,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. lifted its position in General Motors by 1.4% during the 1st quarter. BlackRock Inc. now owns 78,008,491 shares of the auto manufacturer’s stock valued at $2,834,827,000 after acquiring an additional 1,086,199 shares during the period. Franklin Resources Inc. lifted its position in General Motors by 13.7% during the 1st quarter. Franklin Resources Inc. now owns 24,874,605 shares of the auto manufacturer’s stock valued at $903,943,000 after acquiring an additional 3,005,964 shares during the period. Dimensional Fund Advisors LP lifted its position in General Motors by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,890,898 shares of the auto manufacturer’s stock valued at $586,820,000 after acquiring an additional 81,468 shares during the period. Bank of New York Mellon Corp lifted its position in General Motors by 20.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 14,355,956 shares of the auto manufacturer’s stock valued at $565,624,000 after acquiring an additional 2,394,922 shares during the period. Finally, LSV Asset Management lifted its position in General Motors by 4.9% during the 2nd quarter. LSV Asset Management now owns 11,743,616 shares of the auto manufacturer’s stock valued at $462,698,000 after acquiring an additional 543,631 shares during the period. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Shares of General Motors stock opened at $34.63 on Friday. 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 stock has a market capitalization of $48.05 billion, a price-to-earnings ratio of 5.48, a PEG ratio of 0.70 and a beta of 1.56. General Motors has a 52-week low of $33.44 and a 52-week high of $46.76.

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

The company also recently announced a quarterly dividend, which will be paid on Friday, September 21st. Shareholders of record on Friday, September 7th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, September 6th. This represents a $1.52 annualized dividend and a yield of 4.39%. General Motors’s dividend payout ratio (DPR) is presently 22.96%.

A number of research analysts recently issued reports on GM shares. Morgan Stanley set a $48.00 price target on shares of General Motors and gave the company a “buy” rating in a research report on Thursday, May 24th. Evercore ISI raised shares of General Motors from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $47.00 to $50.00 in a research report on Thursday, May 31st. ValuEngine raised shares of General Motors from a “hold” rating to a “buy” rating in a research report on Friday, June 1st. JPMorgan Chase & Co. reissued an “overweight” rating and set a $58.00 price target on shares of General Motors in a research report on Friday, June 1st. Finally, Bank of America reissued a “buy” rating and set a $60.00 price target on shares of General Motors in a research report on Friday, June 15th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. The company currently has a consensus 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.

Read More: Price to Earnings Ratio (PE) Basics

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

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