Independence Bank of Kentucky reduced its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 10.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,200 shares of the auto manufacturer’s stock after selling 270 shares during the quarter. Independence Bank of Kentucky’s holdings in General Motors were worth $85,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. FMR LLC grew its stake in shares of General Motors by 83.3% in the first quarter. FMR LLC now owns 8,016,745 shares of the auto manufacturer’s stock worth $297,421,000 after purchasing an additional 3,643,659 shares during the last quarter. AlphaCrest Capital Management LLC bought a new stake in shares of General Motors in the first quarter worth about $657,000. Bank of Edwardsville bought a new stake in shares of General Motors in the first quarter worth about $468,000. WealthPLAN Partners LLC grew its stake in shares of General Motors by 9.6% in the first quarter. WealthPLAN Partners LLC now owns 12,598 shares of the auto manufacturer’s stock worth $471,000 after purchasing an additional 1,104 shares during the last quarter. Finally, South Texas Money Management Ltd. grew its stake in shares of General Motors by 14.2% in the first quarter. South Texas Money Management Ltd. now owns 594,298 shares of the auto manufacturer’s stock worth $22,048,000 after purchasing an additional 74,056 shares during the last quarter. 76.65% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Wesley G. Bush acquired 10,000 shares of the stock in a transaction on Tuesday, May 7th. The stock was acquired at an average cost of $38.58 per share, for a total transaction of $385,800.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.51% of the company’s stock.

Several research firms recently issued reports on GM. Nomura set a $42.00 target price on General Motors and gave the stock a “hold” rating in a research note on Thursday, May 2nd. Zacks Investment Research raised Green Brick Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. ValuEngine raised Worldline from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Credit Suisse Group began coverage on Magna International in a research note on Wednesday, June 26th. They issued a “neutral” rating and a $55.00 target price on the stock. Finally, Royal Bank of Canada cut their target price on West Fraser Timber from C$77.00 to C$75.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $47.50.

GM traded down $0.32 on Tuesday, hitting $40.36. The company had a trading volume of 2,697,976 shares, compared to its average volume of 6,474,318. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.94 and a quick ratio of 0.81. General Motors has a 52-week low of $30.56 and a 52-week high of $41.50. The business has a fifty day simple moving average of $38.28. The firm has a market cap of $57.83 billion, a price-to-earnings ratio of 6.17, a P/E/G ratio of 0.70 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, April 30th. The auto manufacturer reported $1.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.32. General Motors had a net margin of 6.26% and a return on equity of 22.67%. The business had revenue of $34.88 billion during the quarter, compared to analyst estimates of $35.56 billion. During the same period last year, the business posted $1.43 earnings per share. General Motors’s quarterly revenue was down 3.4% compared to the same quarter last year. On average, analysts anticipate that General Motors will post 6.58 earnings per share for the current year.

General Motors Company Profile

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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