UBS Asset Management Americas Inc. cut its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 9.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,315,579 shares of the auto manufacturer’s stock after selling 424,573 shares during the quarter. UBS Asset Management Americas Inc.’s holdings in General Motors were worth $176,896,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in GM. Assenagon Asset Management S.A. acquired a new position in shares of General Motors during the third quarter worth $202,352,000. SG Americas Securities LLC increased its holdings in General Motors by 4,992.3% in the fourth quarter. SG Americas Securities LLC now owns 2,962,746 shares of the auto manufacturer’s stock valued at $121,443,000 after purchasing an additional 2,904,565 shares during the period. APG Asset Management N.V. increased its holdings in General Motors by 807.4% in the fourth quarter. APG Asset Management N.V. now owns 2,597,441 shares of the auto manufacturer’s stock valued at $88,665,000 after purchasing an additional 2,311,204 shares during the period. Levin Capital Strategies L.P. increased its holdings in General Motors by 123.4% in the fourth quarter. Levin Capital Strategies L.P. now owns 3,440,444 shares of the auto manufacturer’s stock valued at $141,024,000 after purchasing an additional 1,900,236 shares during the period. Finally, AXA increased its holdings in General Motors by 295.3% in the third quarter. AXA now owns 1,944,602 shares of the auto manufacturer’s stock valued at $78,523,000 after purchasing an additional 1,452,633 shares during the period. Institutional investors own 73.38% of the company’s stock.
A number of research firms recently weighed in on GM. Zacks Investment Research upgraded General Motors from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a report on Wednesday. Morgan Stanley increased their price objective on General Motors from $43.00 to $44.00 and gave the company an “equal weight” rating in a report on Wednesday. Vetr upgraded General Motors from a “sell” rating to a “hold” rating and set a $40.24 price objective for the company in a report on Monday, February 12th. Nomura set a $45.00 price objective on General Motors and gave the company a “neutral” rating in a report on Thursday, February 8th. Finally, Bank of America increased their price objective on General Motors from $57.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $44.44.
Shares of General Motors (NYSE:GM) opened at $41.09 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.76 and a debt-to-equity ratio of 1.86. The company has a market cap of $58,360.00, a price-to-earnings ratio of 7.98, a price-to-earnings-growth ratio of 0.79 and a beta of 1.59. General Motors has a 1 year low of $31.92 and a 1 year high of $46.76.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, February 6th. The auto manufacturer reported $1.65 EPS for the quarter, beating the Zacks’ consensus estimate of $1.34 by $0.31. The business had revenue of $34.48 billion for the quarter, compared to analysts’ expectations of $34.28 billion. General Motors had a negative net margin of 2.58% and a positive return on equity of 22.86%. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.28 earnings per share. equities research analysts expect that General Motors will post 6.25 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Friday, March 9th will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, March 8th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.70%. General Motors’s dividend payout ratio (DPR) is presently 29.51%.
In other news, insider Barry L. Engle II sold 50,443 shares of the stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $43.08, for a total transaction of $2,173,084.44. Following the transaction, the insider now owns 57,091 shares of the company’s stock, valued at approximately $2,459,480.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Stefan Jacoby sold 37,961 shares of the stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $42.87, for a total transaction of $1,627,388.07. Following the transaction, the executive vice president now directly owns 98,340 shares in the company, valued at approximately $4,215,835.80. The disclosure for this sale can be found here. Insiders have sold a total of 203,847 shares of company stock worth $8,793,908 in the last three months. Insiders own 0.04% of the company’s stock.
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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