Fishman Jay A Ltd. MI decreased its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 25.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,200 shares of the auto manufacturer’s stock after selling 10,500 shares during the period. Fishman Jay A Ltd. MI’s holdings in General Motors were worth $1,169,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cutter & CO Brokerage Inc. acquired a new stake in General Motors during the 2nd quarter worth about $429,000. Chartwell Investment Partners LLC grew its holdings in General Motors by 14.6% during the second quarter. Chartwell Investment Partners LLC now owns 362,829 shares of the auto manufacturer’s stock valued at $13,979,000 after purchasing an additional 46,233 shares during the period. Natixis grew its holdings in General Motors by 2.6% during the second quarter. Natixis now owns 1,078,647 shares of the auto manufacturer’s stock valued at $41,560,000 after purchasing an additional 26,851 shares during the period. Man Group plc grew its holdings in General Motors by 15.0% during the second quarter. Man Group plc now owns 48,299 shares of the auto manufacturer’s stock valued at $1,861,000 after purchasing an additional 6,305 shares during the period. Finally, Bigelow Investment Advisors LLC bought a new position in General Motors during the second quarter valued at $270,000. Institutional investors and hedge funds own 77.03% of the company’s stock.
General Motors stock traded up $0.18 during midday trading on Friday, reaching $38.67. The stock had a trading volume of 5,816,834 shares, compared to its average volume of 8,734,329. The company has a quick ratio of 0.82, a current ratio of 0.96 and a debt-to-equity ratio of 1.43. General Motors has a 52-week low of $31.46 and a 52-week high of $41.90. The firm has a market cap of $54.62 billion, a price-to-earnings ratio of 5.91, a price-to-earnings-growth ratio of 0.73 and a beta of 1.40. The company has a fifty day moving average of $36.58 and a 200 day moving average of $37.51.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, October 29th. The auto manufacturer reported $1.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.54. General Motors had a net margin of 6.19% and a return on equity of 19.78%. 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 revenue for the quarter was down .8% on a year-over-year basis. Equities research analysts predict that General Motors will post 4.85 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend is Thursday, December 5th. General Motors’s dividend payout ratio (DPR) is currently 23.24%.
In related news, EVP Matthew Tsien sold 83,067 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $39.50, for a total value of $3,281,146.50. Following the sale, the executive vice president now directly owns 84,667 shares of the company’s stock, valued at approximately $3,344,346.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.51% of the company’s stock.
A number of research analysts recently issued reports on GM shares. Citigroup boosted their price target on General Motors from $67.00 to $68.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Barclays lowered their price target on shares of General Motors from $51.00 to $48.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Buckingham Research lowered their price target on shares of General Motors from $35.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Evercore ISI set a $50.00 price target on shares of General Motors and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, ValuEngine raised shares of General Motors from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. General Motors presently has an average rating of “Buy” and a consensus price target of $47.00.
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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