SG Americas Securities LLC raised its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 49.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 405,251 shares of the auto manufacturer’s stock after purchasing an additional 133,658 shares during the period. SG Americas Securities LLC’s holdings in General Motors were worth $15,189,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of General Motors by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 102,571,908 shares of the auto manufacturer’s stock worth $3,952,096,000 after acquiring an additional 717,703 shares in the last quarter. Northern Trust Corp raised its position in shares of General Motors by 1.3% in the 2nd quarter. Northern Trust Corp now owns 14,406,653 shares of the auto manufacturer’s stock worth $555,088,000 after acquiring an additional 184,349 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of General Motors by 0.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,977,174 shares of the auto manufacturer’s stock worth $538,539,000 after acquiring an additional 99,948 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of General Motors by 4.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 7,033,921 shares of the auto manufacturer’s stock worth $271,017,000 after acquiring an additional 324,329 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in shares of General Motors by 1.2% in the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 6,281,100 shares of the auto manufacturer’s stock worth $242,011,000 after acquiring an additional 75,014 shares in the last quarter. 77.03% of the stock is owned by institutional investors and hedge funds.
NYSE:GM traded up $0.18 during mid-day trading on Friday, hitting $38.67. 5,912,949 shares of the company’s stock traded hands, compared to its average volume of 8,734,329. The company has a fifty day moving average of $36.57 and a 200 day moving average of $37.52. General Motors has a twelve month low of $31.46 and a twelve month high of $41.90. The company has a market capitalization of $54.62 billion, a P/E ratio of 5.91, a P/E/G ratio of 0.73 and a beta of 1.40. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.82 and a current ratio of 0.96.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, October 29th. The auto manufacturer reported $1.72 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.54. General Motors had a return on equity of 19.78% and a net margin of 6.19%. The company had revenue of $35.50 billion for the quarter, compared to analyst estimates of $35.21 billion. During the same period in the prior year, the company posted $1.87 EPS. The firm’s quarterly revenue was down .8% compared to the same quarter last year. On average, research analysts expect that General Motors will post 4.85 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.52 annualized dividend and a yield of 3.93%. General Motors’s payout ratio is presently 23.24%.
Several research analysts have recently commented on the company. Morgan Stanley set a $46.00 price target on General Motors and gave the stock a “buy” rating in a research report on Tuesday, September 17th. UBS Group boosted their price target on General Motors from $46.00 to $47.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. ValuEngine raised General Motors from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Royal Bank of Canada boosted their price target on General Motors to $52.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. They noted that the move was a valuation call. Finally, Citigroup boosted their price target on General Motors from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $47.00.
In other General Motors news, EVP Matthew Tsien sold 16,933 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $39.50, for a total transaction of $668,853.50. Following the sale, the executive vice president now owns 18,533 shares in the company, valued at approximately $732,053.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.51% of the stock is currently owned by insiders.
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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