Tocqueville Asset Management L.P. Invests $7.27 Million in General Motors Company (GM) Stock

Tocqueville Asset Management L.P. purchased a new stake in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 179,997 shares of the auto manufacturer’s stock, valued at approximately $7,268,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Berkshire Hathaway Inc. lifted its position in General Motors by 20.0% during the 2nd quarter. Berkshire Hathaway Inc. now owns 60,000,000 shares of the auto manufacturer’s stock valued at $2,095,800,000 after acquiring an additional 10,000,000 shares during the period. Swiss National Bank lifted its position in General Motors by 1.2% during the 2nd quarter. Swiss National Bank now owns 4,925,857 shares of the auto manufacturer’s stock valued at $172,060,000 after acquiring an additional 56,500 shares during the period. State of Tennessee Treasury Department lifted its position in General Motors by 0.4% during the 2nd quarter. State of Tennessee Treasury Department now owns 825,599 shares of the auto manufacturer’s stock valued at $28,839,000 after acquiring an additional 3,298 shares during the period. Intrust Bank NA lifted its position in General Motors by 0.3% during the 2nd quarter. Intrust Bank NA now owns 7,174 shares of the auto manufacturer’s stock valued at $250,000 after acquiring an additional 25 shares during the period. Finally, Commonwealth Bank of Australia lifted its position in General Motors by 12.5% during the 2nd quarter. Commonwealth Bank of Australia now owns 739,220 shares of the auto manufacturer’s stock valued at $25,819,000 after acquiring an additional 82,201 shares during the period. 72.83% of the stock is owned by institutional investors.

Several research analysts have issued reports on the stock. Morgan Stanley cut shares of General Motors from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $46.48 to $43.00 in a report on Wednesday, October 25th. Royal Bank Of Canada lifted their target price on shares of General Motors from $44.00 to $51.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 25th. Craig Hallum set a $45.00 target price on shares of General Motors and gave the stock a “hold” rating in a report on Wednesday, October 25th. BMO Capital Markets raised shares of General Motors to a “market perform” rating and lifted their target price for the stock from $41.00 to $48.00 in a report on Wednesday, October 25th. Finally, Deutsche Bank AG lifted their target price on shares of General Motors from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $43.32.

General Motors Company (GM) opened at $42.34 on Friday. The firm has a market cap of $60,140.07, a P/E ratio of 6.84, a price-to-earnings-growth ratio of 0.73 and a beta of 1.56. General Motors Company has a 12-month low of $30.21 and a 12-month high of $46.76. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.94 and a quick ratio of 0.79.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, October 24th. The auto manufacturer reported $1.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.25. The business had revenue of $30.48 billion during the quarter, compared to analyst estimates of $29.93 billion. General Motors had a net margin of 2.00% and a return on equity of 20.95%. The company’s revenue was down 16.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.72 earnings per share. sell-side analysts anticipate that General Motors Company will post 6.24 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Friday, December 8th will be given a $0.38 dividend. The ex-dividend date is Thursday, December 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.59%. General Motors’s payout ratio is currently 77.95%.

In other General Motors news, EVP Nysschen Carel J. De sold 123,645 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $44.59, for a total value of $5,513,330.55. Following the completion of the transaction, the executive vice president now directly owns 150,484 shares in the company, valued at $6,710,081.56. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Charles K. Stevens III sold 265,458 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $44.49, for a total transaction of $11,810,226.42. Following the completion of the transaction, the chief financial officer now owns 326,510 shares of the company’s stock, valued at $14,526,429.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 979,266 shares of company stock valued at $40,917,634. Company insiders own 0.04% of the company’s stock.

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General Motors Company Profile

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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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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