Tiaa Fsb reduced its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) by 6.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,883 shares of the auto manufacturer’s stock after selling 3,612 shares during the period. Tiaa Fsb’s holdings in General Motors were worth $2,297,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Berkshire Hathaway Inc. grew its holdings in General Motors by 20.0% in the second quarter. Berkshire Hathaway Inc. now owns 60,000,000 shares of the auto manufacturer’s stock worth $2,095,800,000 after purchasing an additional 10,000,000 shares during the period. Swiss National Bank grew its holdings in General Motors by 1.2% in the second quarter. Swiss National Bank now owns 4,925,857 shares of the auto manufacturer’s stock worth $172,060,000 after purchasing an additional 56,500 shares during the period. State of Tennessee Treasury Department grew its holdings in General Motors by 0.4% in the second quarter. State of Tennessee Treasury Department now owns 825,599 shares of the auto manufacturer’s stock worth $28,839,000 after purchasing an additional 3,298 shares during the period. Intrust Bank NA grew its holdings in General Motors by 0.3% in the second quarter. Intrust Bank NA now owns 7,174 shares of the auto manufacturer’s stock worth $250,000 after purchasing an additional 25 shares during the period. Finally, Commonwealth Bank of Australia grew its holdings in General Motors by 12.5% in the second quarter. Commonwealth Bank of Australia now owns 739,220 shares of the auto manufacturer’s stock worth $25,819,000 after purchasing an additional 82,201 shares during the period. 72.50% of the stock is owned by institutional investors.
General Motors Company (NYSE GM) opened at 44.64 on Friday. General Motors Company has a 52-week low of $30.21 and a 52-week high of $46.76. The company has a market capitalization of $65.05 billion, a P/E ratio of 7.76 and a beta of 1.45. The firm has a 50-day moving average of $42.32 and a 200 day moving average of $36.68.
General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, October 24th. The auto manufacturer reported $1.32 EPS for the quarter, beating the consensus estimate of $1.07 by $0.25. The business had revenue of $30.48 billion for the quarter, compared to the consensus estimate of $29.93 billion. General Motors had a net margin of 0.34% and a return on equity of 1.03%. The business’s revenue for the quarter was down 16.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.72 EPS. Equities analysts predict that General Motors Company will post $6.26 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Friday, December 8th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend is Thursday, December 7th. General Motors’s dividend payout ratio (DPR) is currently 77.95%.
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In other news, President Daniel Ammann sold 40,000 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $36.00, for a total value of $1,440,000.00. Following the sale, the president now directly owns 235,953 shares of the company’s stock, valued at approximately $8,494,308. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Charles K. Stevens III sold 265,458 shares of the company’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $44.49, for a total transaction of $11,810,226.42. Following the completion of the sale, the chief financial officer now directly owns 326,510 shares in the company, valued at $14,526,429.90. The disclosure for this sale can be found here. Insiders sold a total of 1,253,540 shares of company stock worth $50,503,341 over the last ninety days. Insiders own 0.04% of the company’s stock.
A number of equities research analysts have weighed in on the stock. Deutsche Bank AG upped their price objective on shares of General Motors from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday. BMO Capital Markets upgraded shares of General Motors to a “market perform” rating and upped their price objective for the stock from $41.00 to $48.00 in a report on Wednesday. Craig Hallum set a $45.00 price objective on shares of General Motors and gave the stock a “hold” rating in a report on Wednesday. Royal Bank Of Canada upped their price objective on shares of General Motors from $44.00 to $51.00 and gave the stock a “sector perform” rating in a report on Wednesday. Finally, Morgan Stanley cut shares of General Motors from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $46.48 to $43.00 in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. General Motors currently has a consensus rating of “Buy” and a consensus price target of $43.70.
About General Motors
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
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