Mutual of America Capital Management LLC grew its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 3.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 169,502 shares of the auto manufacturer’s stock after purchasing an additional 6,074 shares during the quarter. Mutual of America Capital Management LLC’s holdings in General Motors were worth $5,707,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in the company. Stellar Capital Management LLC raised its holdings in General Motors by 3.1% in the 2nd quarter. Stellar Capital Management LLC now owns 52,472 shares of the auto manufacturer’s stock worth $2,067,000 after acquiring an additional 1,555 shares during the period. WoodTrust Financial Corp raised its holdings in General Motors by 4.0% in the 3rd quarter. WoodTrust Financial Corp now owns 40,016 shares of the auto manufacturer’s stock worth $1,348,000 after acquiring an additional 1,555 shares during the period. Independent Advisor Alliance raised its holdings in General Motors by 6.3% in the 3rd quarter. Independent Advisor Alliance now owns 26,200 shares of the auto manufacturer’s stock worth $894,000 after acquiring an additional 1,562 shares during the period. Hallmark Capital Management Inc. raised its holdings in General Motors by 3.8% in the 3rd quarter. Hallmark Capital Management Inc. now owns 43,589 shares of the auto manufacturer’s stock worth $1,468,000 after acquiring an additional 1,582 shares during the period. Finally, First Foundation Advisors raised its holdings in General Motors by 19.2% in the 3rd quarter. First Foundation Advisors now owns 10,557 shares of the auto manufacturer’s stock worth $355,000 after acquiring an additional 1,698 shares during the period. Institutional investors and hedge funds own 74.31% of the company’s stock.
Shares of NYSE GM opened at $34.69 on Friday. General Motors has a 1-year low of $30.56 and a 1-year high of $45.52. The stock has a market capitalization of $50.39 billion, a price-to-earnings ratio of 5.24, a P/E/G ratio of 0.67 and a beta of 1.25. The company has a quick ratio of 0.76, a current ratio of 0.89 and a debt-to-equity ratio of 1.75.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Wednesday, October 31st. The auto manufacturer reported $1.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.62. General Motors had a net margin of 0.56% and a return on equity of 25.81%. The company had revenue of $35.79 billion during the quarter, compared to the consensus estimate of $34.85 billion. During the same period in the previous year, the firm posted $1.32 earnings per share. The company’s revenue was up 6.4% on a year-over-year basis. On average, equities research analysts anticipate that General Motors will post 6.26 earnings per share for the current year.
The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date of this dividend is Thursday, December 6th. General Motors’s dividend payout ratio (DPR) is 22.96%.
Several research analysts recently commented on the stock. Morgan Stanley dropped their target price on shares of General Motors from $50.00 to $46.00 and set an “overweight” rating on the stock in a report on Friday, August 17th. Goldman Sachs Group set a $36.00 price target on shares of General Motors and gave the stock a “neutral” rating in a research report on Tuesday, September 11th. Citigroup decreased their price target on shares of General Motors from $60.00 to $57.00 and set a “buy” rating on the stock in a research report on Thursday, October 4th. ValuEngine lowered shares of General Motors from a “hold” rating to a “sell” rating in a research report on Tuesday, September 4th. Finally, BMO Capital Markets restated a “hold” rating and issued a $38.00 price target on shares of General Motors in a research report on Tuesday, November 13th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. General Motors has an average rating of “Buy” and an average target price of $45.74.
COPYRIGHT VIOLATION NOTICE: This piece of content was first reported by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another publication, it was stolen and reposted in violation of US and international trademark and copyright legislation. The correct version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/12/08/mutual-of-america-capital-management-llc-acquires-6074-shares-of-general-motors-gm.html.
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.
Featured Story: Put Option
Want to see what other hedge funds are holding GM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Motors (NYSE:GM) (TSE:GMM.U).
Receive News & Ratings for General Motors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Motors and related companies with MarketBeat.com's FREE daily email newsletter.