General Motors (NYSE:GM) Stake Lessened by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL cut its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 24.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,800 shares of the auto manufacturer’s stock after selling 17,440 shares during the period. Gamco Investors INC. ET AL’s holdings in General Motors were worth $1,979,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GM. Next Capital Management LLC bought a new position in shares of General Motors in the second quarter valued at approximately $25,000. Trust Co. of Vermont boosted its holdings in shares of General Motors by 101.2% in the second quarter. Trust Co. of Vermont now owns 666 shares of the auto manufacturer’s stock valued at $26,000 after acquiring an additional 335 shares in the last quarter. Advisors Preferred LLC bought a new position in shares of General Motors in the second quarter valued at approximately $26,000. Massey Quick Simon & CO. LLC bought a new position in shares of General Motors in the third quarter valued at approximately $26,000. Finally, Quest Capital Management Inc. ADV bought a new position in shares of General Motors in the third quarter valued at approximately $26,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

NYSE:GM traded up $0.18 during trading hours on Friday, reaching $38.67. 5,816,834 shares of the company’s stock were exchanged, compared to its average volume of 8,734,329. The company has a market capitalization of $54.62 billion, a P/E ratio of 5.91, a price-to-earnings-growth ratio of 0.73 and a beta of 1.40. General Motors has a 12 month low of $31.46 and a 12 month high of $41.90. The company has a quick ratio of 0.82, a current ratio of 0.96 and a debt-to-equity ratio of 1.43. The business’s 50-day simple moving average is $36.58 and its two-hundred day simple moving average is $37.51.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, October 29th. The auto manufacturer reported $1.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.54. The firm had revenue of $35.50 billion during the quarter, compared to analysts’ expectations of $35.21 billion. General Motors had a net margin of 6.19% and a return on equity of 19.78%. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period last year, the firm posted $1.87 earnings per share. As a group, sell-side analysts anticipate that General Motors will post 4.85 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be given a $0.38 dividend. The ex-dividend date is Thursday, December 5th. This represents a $1.52 annualized dividend and a dividend yield of 3.93%. General Motors’s dividend payout ratio (DPR) is presently 23.24%.

Several research analysts have recently issued reports on GM shares. Nomura set a $38.00 price objective on shares of General Motors and gave the company a “hold” rating in a report on Wednesday, August 7th. ValuEngine upgraded shares of General Motors from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. UBS Group increased their price objective on shares of General Motors from $46.00 to $47.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Buckingham Research decreased their price objective on shares of General Motors from $35.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Finally, Royal Bank of Canada raised their target price on shares of General Motors to $52.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. General Motors presently has a consensus rating of “Buy” and an average price target of $47.00.

In related news, EVP Matthew Tsien sold 16,933 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $39.50, for a total value of $668,853.50. Following the completion of the sale, the executive vice president now owns 18,533 shares in the company, valued at approximately $732,053.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.51% of the stock is currently owned by corporate insiders.

General Motors Company Profile

General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

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

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