CIBC Asset Management Inc Has $6.44 Million Stock Position in General Motors (NYSE:GM)

CIBC Asset Management Inc cut its holdings 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 disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in GM. IndexIQ Advisors LLC lifted its position in shares of General Motors by 255.1% during the first quarter. IndexIQ Advisors LLC now owns 5,230 shares of the auto manufacturer’s stock valued at $229,000 after purchasing an additional 3,757 shares in the last quarter. Sendero Wealth Management LLC lifted its position in shares of General Motors by 250.0% during the 1st quarter. Sendero Wealth Management LLC now owns 15,636 shares of the auto manufacturer’s stock worth $684,000 after buying an additional 11,168 shares in the last quarter. Americana Partners LLC boosted its stake in shares of General Motors by 841.7% in the 1st quarter. Americana Partners LLC now owns 34,383 shares of the auto manufacturer’s stock worth $143,000 after buying an additional 30,732 shares during the last quarter. BTC Capital Management Inc. grew its holdings in shares of General Motors by 2.3% in the first quarter. BTC Capital Management Inc. now owns 82,033 shares of the auto manufacturer’s stock valued at $3,577,000 after acquiring an additional 1,843 shares in the last quarter. Finally, KBC Group NV increased its position in shares of General Motors by 19.2% during the first quarter. KBC Group NV now owns 550,685 shares of the auto manufacturer’s stock valued at $24,087,000 after acquiring an additional 88,873 shares during the last quarter. Institutional investors and hedge funds own 82.66% of the company’s stock.

General Motors Price Performance

Shares of NYSE GM opened at $36.23 on Friday. The stock has a market cap of $52.83 billion, a PE ratio of 6.87, a price-to-earnings-growth ratio of 0.55 and a beta of 1.27. General Motors has a fifty-two week low of $30.33 and a fifty-two week high of $67.21. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.93 and a current ratio of 1.15. The stock has a fifty day moving average of $34.44 and a 200-day moving average of $40.61.

General Motors (NYSE:GMGet Rating) (TSE:GMM.U) last announced 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). The company had revenue of $35.76 billion during the quarter, compared to analysts’ expectations of $34.35 billion. General Motors had a net margin of 6.66% and a return on equity of 13.82%. General Motors’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.97 earnings per share. Equities research analysts anticipate that General Motors will post 6.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wedbush cut their price objective on General Motors from $50.00 to $42.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 27th. BNP Paribas initiated coverage on shares of General Motors in a research report on Monday, April 11th. They set an “outperform” rating for the company. Citigroup lowered their price objective on shares of General Motors from $98.00 to $87.00 in a research report on Wednesday, June 1st. TheStreet downgraded shares of General Motors from a “b-” rating to a “c+” rating in a research report on Friday, May 20th. Finally, Benchmark decreased their price target on shares of General Motors from $75.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $54.94.

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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