RMR Wealth Builders Acquires New Stake in General Motors (NYSE:GM)

RMR Wealth Builders acquired a new stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,126 shares of the auto manufacturer’s stock, valued at approximately $54,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado increased its position in shares of General Motors by 9.2% during the first quarter. Public Employees Retirement Association of Colorado now owns 238,520 shares of the auto manufacturer’s stock valued at $4,956,000 after acquiring an additional 20,070 shares in the last quarter. AE Wealth Management LLC increased its holdings in shares of General Motors by 87.6% in the 1st quarter. AE Wealth Management LLC now owns 53,297 shares of the auto manufacturer’s stock worth $1,108,000 after purchasing an additional 24,886 shares in the last quarter. Wasatch Advisors Inc. purchased a new position in shares of General Motors in the first quarter worth $1,927,000. Mackay Shields LLC lifted its holdings in shares of General Motors by 7.0% during the first quarter. Mackay Shields LLC now owns 249,373 shares of the auto manufacturer’s stock valued at $5,181,000 after purchasing an additional 16,271 shares in the last quarter. Finally, Cetera Advisors LLC lifted its holdings in shares of General Motors by 13.6% during the first quarter. Cetera Advisors LLC now owns 10,308 shares of the auto manufacturer’s stock valued at $214,000 after purchasing an additional 1,233 shares in the last quarter. 77.17% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have issued reports on the stock. Deutsche Bank upped their target price on shares of General Motors from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. JPMorgan Chase & Co. increased their price objective on shares of General Motors from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Wednesday, September 9th. ValuEngine downgraded shares of General Motors from a “buy” rating to a “hold” rating in a research report on Thursday, July 30th. Zacks Investment Research raised General Motors from a “hold” rating to a “strong-buy” rating and set a $31.00 price target on the stock in a report on Friday, August 7th. Finally, Goldman Sachs Group upgraded General Motors from a “neutral” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Thursday, June 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $36.00.

Shares of NYSE:GM traded up $0.36 during mid-day trading on Wednesday, reaching $31.94. 504,228 shares of the company traded hands, compared to its average volume of 15,696,781. The company’s 50 day moving average price is $28.59 and its 200-day moving average price is $25.62. The firm has a market cap of $45.19 billion, a PE ratio of 30.33, a PEG ratio of 1.27 and a beta of 1.45. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.12 and a quick ratio of 0.99. General Motors has a 52 week low of $14.32 and a 52 week high of $38.96.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Wednesday, July 29th. The auto manufacturer reported ($0.50) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.72) by $1.22. The company had revenue of $16.80 billion during the quarter, compared to the consensus estimate of $16.93 billion. General Motors had a return on equity of 6.27% and a net margin of 1.46%. The firm’s revenue was down 53.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.64 EPS. On average, research analysts predict that General Motors will post 2.44 earnings per share for the current fiscal year.

General Motors Company Profile

General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. 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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