Putnam Investments LLC grew its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 9.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,420,588 shares of the auto manufacturer’s stock after acquiring an additional 380,550 shares during the period. Putnam Investments LLC owned 0.31% of General Motors worth $174,171,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vicus Capital increased its stake in General Motors by 15.8% in the second quarter. Vicus Capital now owns 25,558 shares of the auto manufacturer’s stock valued at $1,007,000 after purchasing an additional 3,483 shares in the last quarter. Covenant Multifamily Offices LLC increased its stake in General Motors by 82.6% in the second quarter. Covenant Multifamily Offices LLC now owns 144,404 shares of the auto manufacturer’s stock valued at $5,690,000 after purchasing an additional 65,343 shares in the last quarter. Pegasus Partners Ltd. boosted its holdings in shares of General Motors by 13.3% in the second quarter. Pegasus Partners Ltd. now owns 41,923 shares of the auto manufacturer’s stock valued at $1,652,000 after buying an additional 4,934 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in shares of General Motors by 3.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 5,597,704 shares of the auto manufacturer’s stock valued at $220,550,000 after buying an additional 206,174 shares during the period. Finally, MYDA Advisors LLC acquired a new position in shares of General Motors in the second quarter valued at approximately $1,182,000. 75.22% of the stock is owned by institutional investors.

Several research analysts have recently weighed in on the stock. Citigroup reduced their price target on shares of General Motors from $60.00 to $57.00 and set a “buy” rating for the company in a report on Thursday. Buckingham Research reduced their price target on shares of General Motors from $37.00 to $34.00 and set a “neutral” rating for the company in a report on Wednesday. Bank of America reiterated a “buy” rating and issued a $60.00 price target on shares of General Motors in a report on Wednesday, September 12th. Goldman Sachs Group set a $36.00 target price on shares of General Motors and gave the stock a “neutral” rating in a report on Tuesday, September 11th. Finally, Zacks Investment Research cut shares of General Motors from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 5th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $46.98.

Shares of GM traded down $0.13 during trading hours on Friday, hitting $34.12. The company had a trading volume of 10,740,763 shares, compared to its average volume of 12,251,870. The firm has a market capitalization of $47.50 billion, a PE ratio of 5.15, a PEG ratio of 0.69 and a beta of 1.55. General Motors has a 12 month low of $33.20 and a 12 month high of $46.76. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.88 and a quick ratio of 0.74.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Wednesday, July 25th. The auto manufacturer reported $1.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.03. The company had revenue of $36.80 billion for the quarter, compared to analyst estimates of $36.62 billion. General Motors had a negative net margin of 3.26% and a positive return on equity of 23.39%. The company’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.89 earnings per share. Analysts predict that General Motors will post 5.95 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 21st. Investors of record on Friday, September 7th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date was Thursday, September 6th. General Motors’s dividend payout ratio is 22.96%.

About General Motors

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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