Pacer Advisors Inc. Raises Holdings in General Motors (NYSE:GM)

Pacer Advisors Inc. boosted its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 952.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 106,870 shares of the auto manufacturer’s stock after acquiring an additional 96,716 shares during the quarter. Pacer Advisors Inc.’s holdings in General Motors were worth $2,704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of GM. Capital Research Global Investors lifted its holdings in General Motors by 159.3% in the 1st quarter. Capital Research Global Investors now owns 38,555,728 shares of the auto manufacturer’s stock worth $801,188,000 after buying an additional 23,689,152 shares during the period. Capital World Investors lifted its holdings in General Motors by 6.6% in the 1st quarter. Capital World Investors now owns 100,416,712 shares of the auto manufacturer’s stock worth $2,086,664,000 after buying an additional 6,189,518 shares during the period. BlackRock Inc. lifted its holdings in General Motors by 4.8% in the 1st quarter. BlackRock Inc. now owns 104,047,751 shares of the auto manufacturer’s stock worth $2,162,112,000 after buying an additional 4,719,148 shares during the period. Invesco Ltd. lifted its holdings in General Motors by 9.8% in the 1st quarter. Invesco Ltd. now owns 40,007,832 shares of the auto manufacturer’s stock worth $831,361,000 after buying an additional 3,557,442 shares during the period. Finally, ACR Alpine Capital Research LLC lifted its holdings in General Motors by 64.8% in the 1st quarter. ACR Alpine Capital Research LLC now owns 4,630,568 shares of the auto manufacturer’s stock worth $96,223,000 after buying an additional 1,821,528 shares during the period. Institutional investors own 75.41% of the company’s stock.

GM has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their price objective on General Motors from $29.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday, June 19th. Nomura decreased their target price on General Motors from $36.00 to $23.00 and set a “neutral” rating for the company in a research report on Monday, May 11th. Royal Bank of Canada reissued a “buy” rating and issued a $33.00 target price on shares of General Motors in a research report on Thursday, May 7th. Zacks Investment Research raised General Motors from a “sell” rating to a “hold” rating and set a $29.00 target price for the company in a research report on Wednesday, May 27th. Finally, Cfra lowered General Motors to a “sell” rating and set a $15.00 target price for the company. in a research report on Tuesday, April 7th. One equities research analyst has 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 “Buy” and a consensus price target of $35.37.

In other General Motors news, EVP Julian G. Blissett bought 9,300 shares of General Motors stock in a transaction on Friday, May 29th. The stock was acquired at an average price of $26.00 per share, with a total value of $241,800.00. Following the acquisition, the executive vice president now owns 22,130 shares in the company, valued at $575,380. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.65% of the stock is currently owned by company insiders.

General Motors stock opened at $24.89 on Friday. The firm has a market cap of $35.62 billion, a price-to-earnings ratio of 23.70, a PEG ratio of 1.78 and a beta of 1.40. The stock has a fifty day simple moving average of $25.92 and a two-hundred day simple moving average of $26.92. General Motors has a 12 month low of $14.32 and a 12 month high of $41.90. The company has a current ratio of 1.12, a quick ratio of 0.95 and a debt-to-equity ratio of 2.00.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Wednesday, July 29th. The auto manufacturer reported ($0.50) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.72) by $1.22. The business had revenue of $16.80 billion during the quarter, compared to analyst estimates of $16.93 billion. General Motors had a return on equity of 6.27% and a net margin of 1.46%. The company’s quarterly revenue was down 53.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.64 EPS. On average, equities research analysts forecast that General Motors will post 2.16 EPS for the current fiscal year.

About General Motors

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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