Stoneridge Investment Partners LLC Reduces Holdings in General Motors (GM)

Stoneridge Investment Partners LLC lessened its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 11.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 175,935 shares of the auto manufacturer’s stock after selling 23,352 shares during the quarter. General Motors accounts for about 1.3% of Stoneridge Investment Partners LLC’s holdings, making the stock its 21st biggest position. Stoneridge Investment Partners LLC’s holdings in General Motors were worth $5,924,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in GM. Neville Rodie & Shaw Inc. bought a new stake in General Motors in the second quarter worth approximately $201,000. Cibc Bank USA bought a new stake in General Motors in the second quarter worth approximately $924,000. American National Bank bought a new stake in General Motors in the second quarter worth approximately $4,075,000. Gulf International Bank UK Ltd grew its position in General Motors by 1.6% in the second quarter. Gulf International Bank UK Ltd now owns 413,371 shares of the auto manufacturer’s stock worth $16,286,000 after acquiring an additional 6,416 shares in the last quarter. Finally, DnB Asset Management AS bought a new stake in General Motors in the second quarter worth approximately $6,206,000. Hedge funds and other institutional investors own 73.84% of the company’s stock.

Several analysts have commented on the stock. Morgan Stanley decreased their target price on shares of General Motors from $50.00 to $46.00 and set an “overweight” rating for the company in a research report on Friday, August 17th. Goldman Sachs Group set a $36.00 target price on shares of General Motors and gave the stock a “neutral” rating in a research report on Tuesday, September 11th. Citigroup decreased their price objective on shares of General Motors from $60.00 to $57.00 and set a “buy” rating for the company in a report on Thursday, October 4th. ValuEngine downgraded shares of General Motors from a “hold” rating to a “sell” rating in a report on Tuesday, September 4th. Finally, Royal Bank of Canada upped their price objective on shares of General Motors from $52.00 to $53.00 and gave the stock an “outperform” rating in a report on Tuesday, July 10th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $46.64.

NYSE GM opened at $35.70 on Wednesday. The company has a quick ratio of 0.74, a current ratio of 0.88 and a debt-to-equity ratio of 1.81. The firm has a market cap of $46.07 billion, a P/E ratio of 5.07, a PEG ratio of 0.68 and a beta of 1.55. General Motors has a 1 year low of $30.56 and a 1 year high of $45.52.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Wednesday, October 31st. The auto manufacturer reported $1.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.62. The firm had revenue of $35.79 billion during the quarter, compared to analysts’ expectations of $34.85 billion. General Motors had a negative net margin of 3.26% and a positive return on equity of 23.39%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.32 EPS. On average, equities research analysts expect that General Motors will post 5.92 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 20th. Investors of record on Friday, December 7th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 4.26%. General Motors’s payout ratio is currently 22.96%.

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.

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

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