Skandinaviska Enskilda Banken AB publ increased its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 2.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 245,556 shares of the auto manufacturer’s stock after acquiring an additional 5,000 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in General Motors were worth $14,530,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the stock. OLD Mission Capital LLC bought a new stake in General Motors during the 3rd quarter valued at $205,000. Envestnet Asset Management Inc. raised its position in General Motors by 6.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 621,958 shares of the auto manufacturer’s stock valued at $35,738,000 after purchasing an additional 35,360 shares in the last quarter. Cullen Frost Bankers Inc. raised its position in General Motors by 163.3% during the 1st quarter. Cullen Frost Bankers Inc. now owns 17,956 shares of the auto manufacturer’s stock valued at $1,032,000 after purchasing an additional 11,136 shares in the last quarter. Ausdal Financial Partners Inc. bought a new stake in General Motors during the 1st quarter valued at $328,000. Finally, Glassman Wealth Services raised its position in General Motors by 63.5% during the 1st quarter. Glassman Wealth Services now owns 1,079 shares of the auto manufacturer’s stock valued at $62,000 after purchasing an additional 419 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.
Shares of GM stock opened at $50.74 on Wednesday. General Motors has a 1-year low of $28.24 and a 1-year high of $64.30. The stock’s fifty day moving average price is $53.10 and its 200 day moving average price is $56.38. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.10 and a quick ratio of 0.93. The company has a market cap of $73.66 billion, a price-to-earnings ratio of 5.87, a price-to-earnings-growth ratio of 0.81 and a beta of 1.28.
A number of equities research analysts have weighed in on GM shares. Tudor Pickering started coverage on General Motors in a research report on Tuesday, May 18th. They set a “buy” rating and a $76.00 target price for the company. Jefferies Financial Group decreased their target price on General Motors from $68.00 to $53.00 and set a “hold” rating for the company in a research report on Monday, August 9th. Bank of America lifted their price target on General Motors from $80.00 to $90.00 and gave the company a “buy” rating in a report on Friday, July 16th. Wells Fargo & Company cut their price target on General Motors from $67.00 to $63.00 and set an “overweight” rating on the stock in a report on Friday, September 10th. Finally, UBS Group lifted their price target on General Motors from $75.00 to $79.00 and gave the company a “buy” rating in a report on Tuesday, June 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $67.95.
General Motors Company Profile
General Motors Co engages in the designing, manufacturing, and selling of cars, trucks and automobile parts. It also provides automotive financing services through General Motors Financial Company, Inc The firm operates through the following segments: GM North America, GM International, Cruise and GM Financial.
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