Global Financial Private Capital LLC decreased its position in General Motors (NYSE:GM) (TSE:GMM.U) by 4.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,466 shares of the auto manufacturer’s stock after selling 3,558 shares during the period. Global Financial Private Capital LLC’s holdings in General Motors were worth $2,608,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in GM. Cambridge Investment Research Advisors Inc. lifted its stake in General Motors by 9.4% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 129,361 shares of the auto manufacturer’s stock valued at $4,356,000 after acquiring an additional 11,139 shares during the period. Vicus Capital lifted its stake in General Motors by 15.8% during the 2nd quarter. Vicus Capital now owns 25,558 shares of the auto manufacturer’s stock valued at $1,007,000 after acquiring an additional 3,483 shares during the period. Nikko Asset Management Americas Inc. lifted its stake in shares of General Motors by 21.6% in the 3rd quarter. Nikko Asset Management Americas Inc. now owns 346,829 shares of the auto manufacturer’s stock worth $11,868,000 after purchasing an additional 61,723 shares during the period. Trilogy Capital Inc. lifted its stake in shares of General Motors by 32.3% in the 2nd quarter. Trilogy Capital Inc. now owns 21,586 shares of the auto manufacturer’s stock worth $850,000 after purchasing an additional 5,265 shares during the period. Finally, Wilsey Asset Management Inc. lifted its stake in shares of General Motors by 6.2% in the 3rd quarter. Wilsey Asset Management Inc. now owns 305,602 shares of the auto manufacturer’s stock worth $10,347,000 after purchasing an additional 17,774 shares during the period. Institutional investors own 74.31% of the company’s stock.
Several brokerages have recently weighed in on GM. Morgan Stanley lowered their price objective on shares of General Motors from $50.00 to $46.00 and set an “overweight” rating on the stock in a research note on Friday, August 17th. Goldman Sachs Group set a $36.00 price objective on shares of General Motors and gave the stock a “neutral” rating in a research note on Tuesday, September 11th. Citigroup lowered their price objective on shares of General Motors from $60.00 to $57.00 and set a “buy” rating on the stock in a research note on Thursday, October 4th. ValuEngine cut shares of General Motors from a “hold” rating to a “sell” rating in a research note on Tuesday, September 4th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $38.00 price objective on shares of General Motors in a research note on Tuesday, November 13th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $45.74.
General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Wednesday, October 31st. The auto manufacturer reported $1.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.62. The company had revenue of $35.79 billion during the quarter, compared to analyst estimates of $34.85 billion. General Motors had a net margin of 0.56% and a return on equity of 25.81%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.32 EPS. On average, analysts predict that General Motors will post 6.26 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 20th. Investors of record on Friday, December 7th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.95%. The ex-dividend date of this dividend is Thursday, December 6th. General Motors’s dividend payout ratio is 22.96%.
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General Motors Company Profile
General Motors Company, together with its subsidiaries, designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
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