Accredited Investors Inc. acquired a new stake in General Motors Company (NYSE:GM) (TSE:GMM.U) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,126 shares of the auto manufacturer’s stock, valued at approximately $449,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of GM. Berkshire Hathaway Inc. increased its stake 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 valued at $2,095,800,000 after purchasing an additional 10,000,000 shares during the period. Janus Henderson Group PLC increased its stake in General Motors by 290.9% in the second quarter. Janus Henderson Group PLC now owns 10,247,171 shares of the auto manufacturer’s stock valued at $357,944,000 after purchasing an additional 7,625,809 shares during the period. Assenagon Asset Management S.A. acquired a new position in General Motors in the third quarter valued at $202,352,000. Clearbridge Investments LLC increased its stake in General Motors by 26,374.8% in the first quarter. Clearbridge Investments LLC now owns 3,970,423 shares of the auto manufacturer’s stock valued at $140,394,000 after purchasing an additional 3,955,426 shares during the period. Finally, Vanguard Group Inc. increased its stake in General Motors by 4.0% in the second quarter. Vanguard Group Inc. now owns 93,414,041 shares of the auto manufacturer’s stock valued at $3,262,952,000 after purchasing an additional 3,560,717 shares during the period. Institutional investors own 72.83% of the company’s stock.
GM has been the topic of a number of recent research reports. Deutsche Bank AG lifted their price objective on shares of General Motors from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. Piper Jaffray Companies restated a “buy” rating and issued a $44.00 price objective on shares of General Motors in a research note on Tuesday, September 12th. UBS AG restated a “buy” rating and issued a $50.00 price objective (up from $39.00) on shares of General Motors in a research note on Wednesday, October 11th. Royal Bank Of Canada lifted their price objective on shares of General Motors from $44.00 to $51.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 25th. Finally, BMO Capital Markets upgraded shares of General Motors to a “market perform” rating and lifted their price objective for the company from $41.00 to $48.00 in a research note on Wednesday, October 25th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $43.32.
In other news, President Daniel Ammann sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $38.00, for a total transaction of $1,900,000.00. Following the completion of the transaction, the president now owns 185,953 shares in the company, valued at approximately $7,066,214. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jane L. Mendillo acquired 1,440 shares of General Motors stock in a transaction dated Friday, August 18th. The shares were acquired at an average price of $34.86 per share, with a total value of $50,198.40. Following the transaction, the director now owns 4,560 shares in the company, valued at approximately $158,961.60. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 979,266 shares of company stock valued at $40,917,634. Insiders own 0.04% of the company’s stock.
Shares of General Motors Company (NYSE GM) traded down 0.733% during mid-day trading on Wednesday, hitting $42.665. 7,342,436 shares of the company’s stock traded hands. The stock has a market cap of $62.17 billion, a P/E ratio of 7.417 and a beta of 1.45. General Motors Company has a 1-year low of $30.21 and a 1-year high of $46.76. The stock has a 50 day moving average price of $42.65 and a 200-day moving average price of $36.83.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, October 24th. The auto manufacturer reported $1.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.25. General Motors had a net margin of 2.00% and a return on equity of 20.95%. The company had revenue of $30.48 billion during the quarter, compared to analyst estimates of $29.93 billion. During the same quarter last year, the firm posted $1.72 EPS. The business’s revenue for the quarter was down 16.6% on a year-over-year basis. Equities research analysts anticipate that General Motors Company will post $6.30 EPS 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 given a dividend of $0.38 per share. The ex-dividend date is Thursday, December 7th. This represents a $1.52 annualized dividend and a dividend yield of 3.54%. General Motors’s dividend payout ratio (DPR) is 77.95%.
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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