General Motors Company $GM Shares Acquired by International Assets Investment Management LLC

International Assets Investment Management LLC increased its stake in General Motors Company (NYSE:GM – Free Report) (TSE:GMM.U) by 2,661.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 200,000 shares of the auto manufacturer’s stock after acquiring an additional 192,758 shares during the period. International Assets Investment Management LLC’s holdings in General Motors were worth $15,400,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of GM. CHICAGO TRUST Co NA boosted its stake in shares of General Motors by 3.9% in the 3rd quarter. CHICAGO TRUST Co NA now owns 8,797 shares of the auto manufacturer’s stock valued at $677,000 after buying an additional 332 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al grew its position in shares of General Motors by 20.0% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 381,962 shares of the auto manufacturer’s stock worth $29,411,000 after buying an additional 63,700 shares in the last quarter. Parcion Private Wealth LLC increased its stake in shares of General Motors by 7.4% during the third quarter. Parcion Private Wealth LLC now owns 14,484 shares of the auto manufacturer’s stock worth $1,115,000 after buying an additional 1,003 shares during the period. Soltis Investment Advisors LLC increased its stake in shares of General Motors by 7.9% during the third quarter. Soltis Investment Advisors LLC now owns 13,060 shares of the auto manufacturer’s stock worth $1,006,000 after buying an additional 952 shares during the period. Finally, Founders Financial Securities LLC increased its stake in shares of General Motors by 29.4% during the third quarter. Founders Financial Securities LLC now owns 8,111 shares of the auto manufacturer’s stock worth $625,000 after buying an additional 1,842 shares during the period. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Stock Performance

NYSE GM opened at $87.33 on Friday. The company has a fifty day moving average of $83.09 and a two-hundred day moving average of $80.62. The company has a market capitalization of $73.67 billion, a PE ratio of 20.03, a P/E/G ratio of 0.49 and a beta of 1.40. General Motors Company has a 1 year low of $66.75 and a 1 year high of $91.85. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.09 and a quick ratio of 0.94.

General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) last posted its earnings results on Tuesday, October 20th. The auto manufacturer reported $3.70 EPS for the quarter, topping analysts’ consensus estimates of $3.69 by $0.01. General Motors had a return on equity of 19.36% and a net margin of 2.12%. The business had revenue of $50.02 billion for the quarter, compared to analysts’ expectations of $48.78 billion. During the same quarter in the previous year, the firm earned $2.80 earnings per share. The business’s revenue was up 2.9% compared to the same quarter last year. As a group, analysts expect that General Motors Company will post 13.38 earnings per share for the current year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Friday, December 4th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, December 4th. This represents a $0.72 annualized dividend and a yield of 0.8%. General Motors’s payout ratio is 16.51%.

General Motors declared that its Board of Directors has initiated a share repurchase program on Tuesday, October 20th that allows the company to buy back $20 billion in shares. This buyback authorization allows the auto manufacturer to buy up to 27.5% of its shares through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

GM has been the subject of a number of recent research reports. Weiss Ratings upgraded shares of General Motors from a “hold (c)” rating to a “buy (b-)” rating in a research note on Friday. Morgan Stanley dropped their price objective on shares of General Motors from $101.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 21st. Tigress Financial raised their price objective on shares of General Motors from $130.00 to $132.00 and gave the company a “strong-buy” rating in a report on Wednesday. UBS Group decreased their price objective on shares of General Motors from $112.00 to $109.00 and set a “buy” rating for the company in a research report on Wednesday, October 21st. Finally, Yorkville Ives initiated coverage on shares of General Motors in a research note on Monday, October 5th. They set an “outperform” rating and a $100.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, General Motors presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.44.

Check Out Our Latest Analysis on General Motors

General Motors News Roundup

Here are the key news stories impacting General Motors this week:

  • Positive Sentiment: Hybrid expansion strengthens product strategy: GM confirmed that its Lansing Delta Township plant will produce hybrid vehicles, including anticipated Chevrolet Traverse, GMC Acadia and Buick Enclave hybrids. The company and the Department of Energy are restructuring a previously awarded $500 million grant to support the investment, helping GM address demand for vehicles between traditional internal-combustion models and EVs. GM confirms Lansing Delta Township plant will produce hybrid vehicles
  • Neutral Sentiment: Nasdaq listing planned: GM is reportedly shifting its stock listing to Nasdaq, potentially improving visibility among technology-oriented investors and aligning the automaker with other major companies that have made similar moves. The change is mainly a trading and branding development rather than an immediate change to GM’s operating fundamentals. GM is shifting gears to the Nasdaq
  • Negative Sentiment: $220 million driver-data settlement adds legal and reputational costs: GM agreed to pay 36 states to resolve allegations that it sold or shared drivers’ vehicle-use, location and braking-behavior data with data brokers and insurers. The agreement requires affirmative express consent before collecting or sharing such information. State allocations include $7.2 million to Michigan, more than $6 million to Connecticut, $3 million to Maine, over $2.5 million to Alaska and $8 million to Ohio; drivers generally will not receive direct payments. The settlement could increase compliance costs and scrutiny of GM’s connected-car and OnStar data practices. GM reaches $220M settlement over selling drivers’ private data

Insider Buying and Selling

In other General Motors news, EVP Grant Dixton sold 40,000 shares of General Motors stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $88.44, for a total transaction of $3,537,600.00. Following the transaction, the executive vice president owned 54,992 shares of the company’s stock, valued at $4,863,492.48. The trade was a 42.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.44% of the stock is currently owned by company insiders.

About General Motors

(Free Report)

General Motors Company (NYSE: GM) is a global automotive company headquartered in Detroit, Michigan. Founded in 1908, GM designs, manufactures and sells vehicles and related services through brands including Chevrolet, Buick, GMC and Cadillac.

GM’s product lineup includes passenger cars, pickup trucks, sport utility vehicles, commercial vehicles and electric vehicles. The company is also developing connected-vehicle technologies, driver-assistance systems and charging and energy-management solutions.

See Also

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

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