XML Financial LLC Makes New Investment in General Motors (NYSE:GM)

XML Financial LLC purchased a new position in shares of General Motors (NYSE:GM – Get Rating) (TSE:GMM.U) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 48,411 shares of the auto manufacturer’s stock, valued at approximately $1,553,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GM. Price T Rowe Associates Inc. MD boosted its position in General Motors by 198.7% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 9,456,923 shares of the auto manufacturer’s stock worth $300,352,000 after acquiring an additional 6,290,657 shares during the period. Renaissance Technologies LLC raised its position in shares of General Motors by 191.2% during the second quarter. Renaissance Technologies LLC now owns 6,897,000 shares of the auto manufacturer’s stock worth $219,049,000 after purchasing an additional 4,528,500 shares during the period. FIFTHDELTA Ltd purchased a new position in shares of General Motors during the second quarter valued at $72,013,000. Franklin Resources Inc. grew its holdings in shares of General Motors by 19.5% during the second quarter. Franklin Resources Inc. now owns 11,512,388 shares of the auto manufacturer’s stock valued at $365,633,000 after buying an additional 1,880,483 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of General Motors by 122.0% during the second quarter. AQR Capital Management LLC now owns 2,931,874 shares of the auto manufacturer’s stock valued at $92,530,000 after buying an additional 1,611,360 shares in the last quarter. Hedge funds and other institutional investors own 78.92% of the company’s stock.

Wall Street Analysts Forecast Growth

GM has been the topic of a number of recent research reports. Morgan Stanley boosted their target price on General Motors from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 26th. StockNews.com raised General Motors from a “hold” rating to a “buy” rating in a research report on Thursday, October 27th. Royal Bank of Canada cut their price target on General Motors from $45.00 to $44.00 and set an “outperform” rating for the company in a report on Wednesday, October 26th. Deutsche Bank Aktiengesellschaft lowered their price objective on General Motors from $36.00 to $35.00 and set a “hold” rating on the stock in a research note on Wednesday, October 26th. Finally, Daiwa Capital Markets increased their price target on General Motors to $38.00 in a research report on Thursday, October 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $51.63.

General Motors Stock Performance

GM opened at $36.20 on Wednesday. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $51.43 billion, a PE ratio of 6.14, a P/E/G ratio of 0.66 and a beta of 1.33. The firm has a 50 day moving average of $37.01 and a two-hundred day moving average of $36.91. General Motors has a 12-month low of $30.33 and a 12-month high of $55.55.

General Motors (NYSE:GM – Get Rating) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, October 25th. The auto manufacturer reported $2.25 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.36. General Motors had a net margin of 6.57% and a return on equity of 14.88%. The firm had revenue of $41.89 billion for the quarter, compared to analysts’ expectations of $42.05 billion. During the same quarter in the previous year, the company posted $1.52 EPS. The company’s revenue was up 56.4% compared to the same quarter last year. On average, analysts anticipate that General Motors will post 7.1 EPS for the current year.

About General Motors

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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.