Massey Quick Simon & CO. LLC raised its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) by 216,562.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,333 shares of the auto manufacturer’s stock after buying an additional 17,325 shares during the quarter. Massey Quick Simon & CO. LLC’s holdings in General Motors were worth $700,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Berkshire Hathaway Inc. grew its holdings in General Motors by 20.0% in the 2nd quarter. Berkshire Hathaway Inc. now owns 60,000,000 shares of the auto manufacturer’s stock valued at $2,095,800,000 after buying an additional 10,000,000 shares in the last quarter. Swiss National Bank grew its holdings in shares of General Motors by 1.2% during the 2nd quarter. Swiss National Bank now owns 4,925,857 shares of the auto manufacturer’s stock worth $172,060,000 after purchasing an additional 56,500 shares during the period. State of Tennessee Treasury Department grew its holdings in shares of General Motors by 0.4% during the 2nd quarter. State of Tennessee Treasury Department now owns 825,599 shares of the auto manufacturer’s stock worth $28,839,000 after purchasing an additional 3,298 shares during the period. Intrust Bank NA grew its holdings in shares of General Motors by 0.3% during the 2nd quarter. Intrust Bank NA now owns 7,174 shares of the auto manufacturer’s stock worth $250,000 after purchasing an additional 25 shares during the period. Finally, Commonwealth Bank of Australia grew its holdings in shares of General Motors by 12.5% during the 2nd quarter. Commonwealth Bank of Australia now owns 739,220 shares of the auto manufacturer’s stock worth $25,819,000 after purchasing an additional 82,201 shares during the period. Institutional investors own 74.51% of the company’s stock.
General Motors Company (GM) traded down $0.57 on Tuesday, hitting $43.00. The stock had a trading volume of 4,536,311 shares, compared to its average volume of 13,453,168. General Motors Company has a fifty-two week low of $31.92 and a fifty-two week high of $46.76. The stock has a market cap of $61,890.00, a P/E ratio of 6.89, a P/E/G ratio of 0.74 and a beta of 1.56. The company has a current ratio of 0.94, a quick ratio of 0.79 and a debt-to-equity ratio of 1.54.
General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, October 24th. The auto manufacturer reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.25. General Motors had a return on equity of 20.95% and a net margin of 2.00%. The business had revenue of $30.48 billion for the quarter, compared to the consensus estimate of $29.93 billion. During the same quarter in the prior year, the business posted $1.72 EPS. The business’s revenue for the quarter was down 16.6% on a year-over-year basis. analysts forecast that General Motors Company will post 6.24 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Friday, December 8th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.53%. General Motors’s payout ratio is currently 32.90%.
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In related news, CAO Thomas S. Timko sold 44,791 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $44.46, for a total transaction of $1,991,407.86. Following the transaction, the chief accounting officer now owns 66,838 shares in the company, valued at approximately $2,971,617.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Daniel Ammann sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $38.00, for a total value of $1,900,000.00. Following the transaction, the president now owns 185,953 shares in the company, valued at approximately $7,066,214. The disclosure for this sale can be found here. In the last quarter, insiders sold 971,122 shares of company stock worth $40,627,952. Company insiders own 0.04% of the company’s stock.
A number of equities analysts have recently weighed in on the company. Berenberg Bank set a $31.00 price target on General Motors and gave the stock a “sell” rating in a report on Monday, August 14th. Vetr cut General Motors from a “buy” rating to a “hold” rating and set a $43.99 price target for the company. in a report on Monday. Citigroup Inc. reiterated a “buy” rating and set a $53.00 price target on shares of General Motors in a report on Monday, October 2nd. Piper Jaffray Companies set a $44.00 price target on General Motors and gave the stock a “buy” rating in a report on Monday, October 16th. Finally, BidaskClub upgraded General Motors from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. General Motors currently has an average rating of “Hold” and a consensus target price of $43.61.
About General Motors
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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