First Heartland Consultants Inc. lifted its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 6.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,659 shares of the auto manufacturer’s stock after purchasing an additional 2,150 shares during the period. First Heartland Consultants Inc.’s holdings in General Motors were worth $1,521,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. YorkBridge Wealth Partners LLC lifted its position in General Motors by 43.5% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,838 shares of the auto manufacturer’s stock worth $101,000 after acquiring an additional 860 shares during the last quarter. Ffcm LLC lifted its position in General Motors by 2,008.1% during the 2nd quarter. Ffcm LLC now owns 3,373 shares of the auto manufacturer’s stock worth $120,000 after acquiring an additional 3,213 shares during the last quarter. Ropes Wealth Advisors LLC lifted its position in General Motors by 240.2% during the 2nd quarter. Ropes Wealth Advisors LLC now owns 4,600 shares of the auto manufacturer’s stock worth $161,000 after acquiring an additional 3,248 shares during the last quarter. Fayez Sarofim & Co. acquired a new position in General Motors during the 3rd quarter worth $202,000. Finally, Capital Investment Advisory Services LLC acquired a new position in General Motors during the 3rd quarter worth $203,000. 73.06% of the stock is owned by institutional investors and hedge funds.
GM has been the topic of several research reports. Deutsche Bank restated a “buy” rating on shares of General Motors in a report on Friday, November 17th. Piper Jaffray Companies restated a “buy” rating and set a $44.00 price objective on shares of General Motors in a report on Tuesday, September 12th. Goldman Sachs Group downgraded shares of General Motors from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $43.16 to $32.00 in a report on Monday, October 30th. Royal Bank of Canada boosted their price objective 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. Finally, Barclays upgraded shares of General Motors from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $41.00 to $55.00 in a report on Friday, October 13th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $43.70.
In other General Motors news, EVP Stefan Jacoby sold 37,961 shares of the business’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $42.87, for a total value of $1,627,388.07. Following the transaction, the executive vice president now directly owns 98,340 shares in the company, valued at $4,215,835.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, President Daniel Ammann sold 50,000 shares of the business’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 $7,066,214. The disclosure for this sale can be found here. In the last three months, insiders sold 1,059,526 shares of company stock worth $44,428,425. 0.04% of the stock is currently owned by insiders.
General Motors (GM) traded down $0.35 during midday trading on Tuesday, reaching $41.67. 14,112,400 shares of the company were exchanged, compared to its average volume of 13,488,139. The company has a market capitalization of $59,685.55, a PE ratio of 6.79, a P/E/G ratio of 0.73 and a beta of 1.54. General Motors has a twelve month low of $31.92 and a twelve month high of $46.76. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.79 and a current ratio of 0.94.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, October 24th. The auto manufacturer reported $1.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.25. The business had revenue of $30.48 billion for the quarter, compared to analysts’ expectations of $29.93 billion. General Motors had a net margin of 2.00% and a return on equity of 20.95%. The firm’s revenue for the quarter was down 16.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.72 earnings per share. equities analysts predict that General Motors will post 6.24 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Friday, December 8th will be paid a $0.38 dividend. The ex-dividend date is Thursday, December 7th. This represents a $1.52 dividend on an annualized basis and a yield of 3.65%. General Motors’s payout ratio is currently 77.95%.
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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