General Motors (GM) Stake Increased by Hexavest Inc.

Hexavest Inc. lifted its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 3.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,384,904 shares of the auto manufacturer’s stock after acquiring an additional 45,492 shares during the quarter. Hexavest Inc.’s holdings in General Motors were worth $56,767,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of GM. YorkBridge Wealth Partners LLC increased its holdings in shares of General Motors by 43.5% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,838 shares of the auto manufacturer’s stock valued at $101,000 after acquiring an additional 860 shares during the period. Fieldpoint Private Securities LLC acquired a new position in shares of General Motors in the 3rd quarter valued at $119,000. Ropes Wealth Advisors LLC increased its holdings in shares of General Motors by 240.2% in the 2nd quarter. Ropes Wealth Advisors LLC now owns 4,600 shares of the auto manufacturer’s stock valued at $161,000 after acquiring an additional 3,248 shares during the period. Fayez Sarofim & Co. acquired a new position in shares of General Motors in the 3rd quarter valued at $202,000. Finally, Capital Investment Advisory Services LLC acquired a new position in shares of General Motors in the 3rd quarter valued at $203,000. Institutional investors and hedge funds own 73.01% of the company’s stock.

In related news, CFO Charles K. Stevens III sold 265,458 shares of the business’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $44.49, for a total value of $11,810,226.42. Following the sale, the chief financial officer now directly owns 326,510 shares in the company, valued at approximately $14,526,429.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Nysschen Carel J. De sold 123,645 shares of the business’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $44.59, for a total transaction of $5,513,330.55. Following the completion of the sale, the executive vice president now owns 150,484 shares in the company, valued at $6,710,081.56. The disclosure for this sale can be found here. Insiders have sold a total of 552,298 shares of company stock worth $24,408,137 over the last 90 days. Insiders own 0.04% of the company’s stock.

Shares of General Motors (GM) traded down $0.12 during midday trading on Friday, hitting $44.07. 14,895,606 shares of the company’s stock traded hands, compared to its average volume of 12,357,813. The stock has a market cap of $62,600.00, a price-to-earnings ratio of 9.54, a P/E/G ratio of 0.82 and a beta of 1.55. General Motors has a 52 week low of $31.92 and a 52 week high of $46.76. The company has a quick ratio of 0.79, a current ratio of 0.94 and a debt-to-equity ratio of 1.54.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, October 24th. The auto manufacturer reported $1.32 EPS for the quarter, topping the consensus estimate of $1.07 by $0.25. The company had revenue of $30.48 billion for 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 business’s revenue was down 16.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.72 EPS. equities research analysts forecast that General Motors will post 6.25 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, December 21st. Shareholders of record on Friday, December 8th were given a dividend of $0.38 per share. The ex-dividend date was Thursday, December 7th. This represents a $1.52 annualized dividend and a dividend yield of 3.45%. General Motors’s payout ratio is currently 32.90%.

Several equities analysts have issued reports on the stock. Zacks Investment Research raised shares of General Motors from a “sell” rating to a “hold” rating in a research note on Tuesday. Evercore ISI boosted their price objective on shares of General Motors from $40.00 to $41.38 in a research note on Friday, December 29th. Piper Jaffray Companies set a $44.00 price objective on shares of General Motors and gave the company a “buy” rating in a research note on Monday, October 16th. Citigroup reissued a “buy” rating and issued a $53.00 price objective on shares of General Motors in a research note on Monday, October 2nd. Finally, Barclays reissued a “buy” rating and issued a $61.00 price objective on shares of General Motors in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $44.29.

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

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