Hennessy Advisors Inc. decreased its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,800 shares of the auto manufacturer’s stock after selling 5,700 shares during the quarter. Hennessy Advisors Inc.’s holdings in General Motors were worth $4,421,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in General Motors by 0.7% in the second quarter. Vanguard Group Inc. now owns 102,571,908 shares of the auto manufacturer’s stock valued at $3,952,096,000 after acquiring an additional 717,703 shares during the period. Diamond Hill Capital Management Inc. lifted its stake in General Motors by 3.4% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,048,400 shares of the auto manufacturer’s stock valued at $226,694,000 after buying an additional 196,460 shares in the last quarter. Prudential PLC boosted its holdings in shares of General Motors by 8.9% in the second quarter. Prudential PLC now owns 5,597,770 shares of the auto manufacturer’s stock valued at $215,781,000 after buying an additional 456,795 shares during the period. Parametric Portfolio Associates LLC increased its position in shares of General Motors by 5.1% during the third quarter. Parametric Portfolio Associates LLC now owns 5,550,287 shares of the auto manufacturer’s stock worth $208,025,000 after acquiring an additional 269,846 shares in the last quarter. Finally, Artemis Investment Management LLP increased its position in shares of General Motors by 25.1% during the third quarter. Artemis Investment Management LLP now owns 4,626,548 shares of the auto manufacturer’s stock worth $172,964,000 after acquiring an additional 927,424 shares in the last quarter. 76.89% of the stock is currently owned by hedge funds and other institutional investors.
GM opened at $35.15 on Wednesday. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.96 and a quick ratio of 0.82. The business has a fifty day simple moving average of $35.99 and a 200 day simple moving average of $37.28. General Motors has a 1 year low of $33.08 and a 1 year high of $41.90. The company has a market capitalization of $49.51 billion, a PE ratio of 5.37, a price-to-earnings-growth ratio of 0.51 and a beta of 1.37.
General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, October 29th. The auto manufacturer reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.54. General Motors had a net margin of 6.19% and a return on equity of 19.78%. The business had revenue of $35.50 billion for the quarter, compared to analyst estimates of $35.21 billion. During the same period last year, the firm earned $1.87 earnings per share. General Motors’s revenue for the quarter was down .8% compared to the same quarter last year. Equities analysts anticipate that General Motors will post 4.77 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, December 6th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 4.32%. The ex-dividend date was Thursday, December 5th. General Motors’s dividend payout ratio (DPR) is currently 23.24%.
Several brokerages recently commented on GM. Bank of America set a $55.00 target price on shares of General Motors and gave the stock a “buy” rating in a report on Tuesday, October 15th. UBS Group lifted their price target on shares of General Motors from $46.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Buckingham Research cut their price target on shares of General Motors from $35.00 to $32.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. ValuEngine upgraded shares of General Motors from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, Morgan Stanley set a $46.00 price objective on General Motors and gave the company a “buy” rating in a report on Tuesday, September 17th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $47.42.
General Motors 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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