Norinchukin Bank The raised its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 9.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 181,299 shares of the auto manufacturer’s stock after purchasing an additional 16,007 shares during the period. Norinchukin Bank The’s holdings in General Motors were worth $7,431,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GM. Assenagon Asset Management S.A. purchased a new stake in General Motors during the third quarter valued at about $202,352,000. SG Americas Securities LLC increased its holdings in shares of 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 worth $121,443,000 after buying an additional 2,904,565 shares during the period. APG Asset Management N.V. increased its holdings in shares of 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 worth $88,665,000 after buying an additional 2,311,204 shares during the period. Levin Capital Strategies L.P. increased its holdings in shares of 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 worth $141,024,000 after buying an additional 1,900,236 shares during the period. Finally, AXA increased its holdings in shares of General Motors by 295.3% in the third quarter. AXA now owns 1,944,602 shares of the auto manufacturer’s stock worth $78,523,000 after buying an additional 1,452,633 shares during the period. Institutional investors and hedge funds own 73.61% of the company’s stock.
Shares of General Motors (GM) opened at $38.01 on Wednesday. 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 firm has a market capitalization of $53,077.12, a P/E ratio of 5.77, a price-to-earnings-growth ratio of 0.72 and a beta of 1.60. General Motors has a 12-month low of $31.92 and a 12-month high of $46.76.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, February 6th. The auto manufacturer reported $1.65 earnings per share for the quarter, beating the Thomson Reuters’ 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 positive return on equity of 22.86% and a negative net margin of 2.58%. The business’s revenue was down 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.28 EPS. equities research analysts anticipate that General Motors will post 6.25 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders 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 annualized dividend and a yield of 4.00%. General Motors’s payout ratio is -52.59%.
In other news, CAO Thomas S. Timko sold 8,461 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $42.06, for a total value of $355,869.66. Following the sale, the chief accounting officer now directly owns 33,519 shares of the company’s stock, valued at approximately $1,409,809.14. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Retiree Medical Benefits T. Uaw sold 40,000,000 shares of the business’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $39.71, for a total value of $1,588,400,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,289,848 shares of company stock worth $1,600,694,061. Insiders own 0.04% of the company’s stock.
Several research analysts have recently commented on the company. Vetr downgraded General Motors from a “hold” rating to a “sell” rating and set a $40.25 price objective on the stock. in a report on Tuesday, February 27th. Goldman Sachs Group set a $33.00 price objective on General Motors and gave the stock a “sell” rating in a report on Tuesday, February 6th. Royal Bank of Canada upgraded General Motors from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $51.00 to $52.00 in a report on Tuesday, December 19th. Barclays reiterated a “buy” rating and issued a $60.00 price objective on shares of General Motors in a report on Sunday, January 21st. Finally, Bank of America lifted their price objective on General Motors from $57.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $44.75.
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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