Global X Management Co. LLC raised its position in General Motors (NYSE:GM) (TSE:GMM.U) by 255.8% during the fourth quarter, HoldingsChannel reports. The firm owned 31,914 shares of the auto manufacturer’s stock after buying an additional 22,945 shares during the quarter. Global X Management Co. LLC’s holdings in General Motors were worth $1,308,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of GM. Assenagon Asset Management S.A. purchased a new position in General Motors in the third quarter valued at about $202,352,000. SG Americas Securities LLC grew its stake in General Motors by 4,992.3% in the fourth quarter. SG Americas Securities LLC now owns 2,962,746 shares of the auto manufacturer’s stock valued at $121,443,000 after purchasing an additional 2,904,565 shares in the last quarter. APG Asset Management N.V. grew its stake in General Motors by 807.4% in the fourth quarter. APG Asset Management N.V. now owns 2,597,441 shares of the auto manufacturer’s stock valued at $88,665,000 after purchasing an additional 2,311,204 shares in the last quarter. AXA grew its stake in General Motors by 295.3% in the third quarter. AXA now owns 1,944,602 shares of the auto manufacturer’s stock valued at $78,523,000 after purchasing an additional 1,452,633 shares in the last quarter. Finally, Artemis Investment Management LLP grew its stake in General Motors by 43.5% in the third quarter. Artemis Investment Management LLP now owns 4,595,697 shares of the auto manufacturer’s stock valued at $185,596,000 after purchasing an additional 1,394,165 shares in the last quarter. Hedge funds and other institutional investors own 73.74% of the company’s stock.
Shares of General Motors (NYSE:GM) opened at $41.09 on Monday. General Motors has a 52 week low of $31.92 and a 52 week high of $46.76. The firm has a market capitalization of $57,634.07, a P/E ratio of -14.22, a P/E/G ratio of 0.79 and a beta of 1.59. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.76 and a current ratio of 0.89.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Friday, March 9th will be paid a dividend of $0.38 per share. The ex-dividend date is Thursday, March 8th. This represents a $1.52 annualized dividend and a yield of 3.70%. General Motors’s payout ratio is -52.59%.
GM has been the topic of a number of recent research reports. Deutsche Bank restated a “buy” rating on shares of General Motors in a research note on Friday, November 17th. Vetr downgraded General Motors from a “buy” rating to a “hold” rating and set a $43.99 price target for the company. in a research note on Monday, November 13th. Royal Bank of Canada upped their price target on General Motors from $44.00 to $51.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 25th. BMO Capital Markets upgraded General Motors to a “market perform” rating and upped their price target for the stock from $41.00 to $48.00 in a research note on Wednesday, October 25th. Finally, Barclays reiterated a “buy” rating and set a $61.00 price target on shares of General Motors in a research note on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $44.44.
In related news, insider Barry L. Engle II sold 50,443 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $43.08, for a total transaction of $2,173,084.44. Following the completion of the sale, the insider now owns 57,091 shares in the company, valued at approximately $2,459,480.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Charles K. Stevens III sold 35,000 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $40.88, for a total value of $1,430,800.00. Following the sale, the chief financial officer now owns 26,052 shares of the company’s stock, valued at approximately $1,065,005.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 203,847 shares of company stock valued at $8,793,908. 0.04% of the stock is owned by corporate insiders.
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General Motors 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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