Smith Anglin Financial LLC Has $630,000 Holdings in General Motors (NYSE:GM)

Smith Anglin Financial LLC cut its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 17.9% in the second quarter, Holdings Channel reports. The firm owned 10,652 shares of the auto manufacturer’s stock after selling 2,326 shares during the quarter. Smith Anglin Financial LLC’s holdings in General Motors were worth $630,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Eagle Bay Advisors LLC bought a new position in General Motors during the second quarter worth about $25,000. Accel Wealth Management lifted its holdings in General Motors by 1,510.3% during the second quarter. Accel Wealth Management now owns 467 shares of the auto manufacturer’s stock worth $28,000 after acquiring an additional 438 shares in the last quarter. Godsey & Gibb Associates bought a new position in General Motors during the first quarter worth about $29,000. Stonebridge Capital Advisors LLC bought a new stake in General Motors during the first quarter worth about $29,000. Finally, Aspire Private Capital LLC raised its holdings in General Motors by 484.7% during the first quarter. Aspire Private Capital LLC now owns 497 shares of the auto manufacturer’s stock worth $29,000 after acquiring an additional 412 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have weighed in on the company. Wells Fargo & Company lowered their price target on General Motors from $67.00 to $63.00 and set an “overweight” rating on the stock in a research report on Friday, September 10th. Bank of America upped their target price on General Motors from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, July 16th. Zacks Investment Research downgraded General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price on the stock. in a research report on Monday, August 9th. Argus upped their target price on General Motors from $62.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, May 18th. They noted that the move was a valuation call. Finally, Wedbush initiated coverage on General Motors in a research report on Thursday, July 8th. They issued an “outperform” rating and a $85.00 target price on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, General Motors currently has an average rating of “Buy” and an average target price of $67.95.

Shares of GM traded up $1.07 during trading hours on Wednesday, reaching $51.81. The stock had a trading volume of 581,323 shares, compared to its average volume of 19,523,377. General Motors has a 12 month low of $28.24 and a 12 month high of $64.30. The stock has a market capitalization of $75.21 billion, a PE ratio of 5.94, a PEG ratio of 0.81 and a beta of 1.28. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.93 and a current ratio of 1.10. The company’s 50-day moving average is $53.10 and its two-hundred day moving average is $56.38.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Wednesday, August 4th. The auto manufacturer reported $1.97 EPS for the quarter, beating the Zacks’ consensus estimate of $1.89 by $0.08. The company had revenue of $34.20 billion during the quarter, compared to analysts’ expectations of $29.66 billion. General Motors had a return on equity of 25.11% and a net margin of 9.13%. General Motors’s revenue was up 103.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.50) EPS. Equities analysts anticipate that General Motors will post 6.2 earnings per share for the current fiscal year.

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

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