Lehman Financial Resources Inc. boosted its position in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 6.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 67,653 shares of the auto manufacturer’s stock after purchasing an additional 4,050 shares during the quarter. General Motors makes up 1.4% of Lehman Financial Resources Inc.’s portfolio, making the stock its 26th biggest holding. Lehman Financial Resources Inc.’s holdings in General Motors were worth $2,731,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of GM. Berkshire Hathaway Inc. lifted its position in shares of General Motors by 20.0% in the second quarter. Berkshire Hathaway Inc. now owns 60,000,000 shares of the auto manufacturer’s stock valued at $2,095,800,000 after acquiring an additional 10,000,000 shares in the last quarter. Swiss National Bank lifted its position in shares of General Motors by 1.2% in the second quarter. Swiss National Bank now owns 4,925,857 shares of the auto manufacturer’s stock valued at $172,060,000 after acquiring an additional 56,500 shares in the last quarter. State of Tennessee Treasury Department lifted its position in shares of General Motors by 0.4% in the second quarter. State of Tennessee Treasury Department now owns 825,599 shares of the auto manufacturer’s stock valued at $28,839,000 after acquiring an additional 3,298 shares in the last quarter. Intrust Bank NA lifted its position in shares of General Motors by 0.3% in the second quarter. Intrust Bank NA now owns 7,174 shares of the auto manufacturer’s stock valued at $250,000 after acquiring an additional 25 shares in the last quarter. Finally, Commonwealth Bank of Australia lifted its position in shares of General Motors by 12.5% in the second quarter. Commonwealth Bank of Australia now owns 739,220 shares of the auto manufacturer’s stock valued at $25,819,000 after acquiring an additional 82,201 shares in the last quarter. Institutional investors own 74.65% of the company’s stock.
In other news, CAO Thomas S. Timko sold 44,791 shares of the stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $44.46, for a total value of $1,991,407.86. Following the completion of the sale, the chief accounting officer now owns 66,838 shares in the company, valued at $2,971,617.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Nysschen Carel J. De sold 123,645 shares of the stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $44.59, for a total value of $5,513,330.55. Following the completion of the sale, the executive vice president now owns 150,484 shares of the company’s stock, valued at approximately $6,710,081.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 979,266 shares of company stock valued at $40,917,634. Insiders own 0.04% of the company’s stock.
GM has been the topic of several recent research reports. BidaskClub upgraded General Motors from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Vetr upgraded General Motors from a “hold” rating to a “buy” rating and set a $37.42 price objective on the stock in a research report on Monday, July 24th. Piper Jaffray Companies restated a “buy” rating and issued a $44.00 price objective on shares of General Motors in a research report on Tuesday, September 12th. Deutsche Bank AG upgraded General Motors from a “hold” rating to a “buy” rating and upped their price objective for the company from $36.00 to $51.00 in a research report on Monday, September 25th. Finally, Citigroup Inc. restated a “buy” rating and issued a $53.00 price objective on shares of General Motors in a research report on Monday, October 2nd. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. General Motors has an average rating of “Hold” and an average price target of $43.61.
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General Motors Company (GM) traded up $0.55 during mid-day trading on Friday, hitting $42.66. The stock had a trading volume of 14,102,001 shares, compared to its average volume of 13,583,509. 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 Company has a fifty-two week low of $31.92 and a fifty-two week high of $46.76. The firm has a market capitalization of $60,594.60, a price-to-earnings ratio of 6.89, a P/E/G ratio of 0.74 and a beta of 1.56.
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 (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 during the quarter, compared to analyst estimates of $29.93 billion. During the same quarter last year, the firm earned $1.72 earnings per share. The company’s revenue for the quarter was down 16.6% compared to the same quarter last year. research analysts expect that General Motors Company will post 6.24 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders 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 dividend yield of 3.56%. General Motors’s dividend payout ratio (DPR) is currently 77.95%.
General Motors 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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