First Dallas Securities Inc. reduced its position in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 21.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,727 shares of the auto manufacturer’s stock after selling 11,874 shares during the period. General Motors accounts for approximately 1.2% of First Dallas Securities Inc.’s holdings, making the stock its 22nd biggest position. First Dallas Securities Inc.’s holdings in General Motors were worth $1,766,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Intrust Bank NA raised its stake in General Motors by 0.3% during the 2nd quarter. Intrust Bank NA now owns 7,174 shares of the auto manufacturer’s stock valued at $250,000 after purchasing an additional 25 shares during the last quarter. IFC Holdings Incorporated FL raised its stake in General Motors by 0.3% during the 2nd quarter. IFC Holdings Incorporated FL now owns 32,119 shares of the auto manufacturer’s stock valued at $1,120,000 after purchasing an additional 88 shares during the last quarter. Rehmann Capital Advisory Group raised its stake in General Motors by 1.8% during the 2nd quarter. Rehmann Capital Advisory Group now owns 6,583 shares of the auto manufacturer’s stock valued at $230,000 after purchasing an additional 115 shares during the last quarter. Alpha Windward LLC raised its stake in General Motors by 2.3% during the 2nd quarter. Alpha Windward LLC now owns 5,542 shares of the auto manufacturer’s stock valued at $194,000 after purchasing an additional 125 shares during the last quarter. Finally, Heritage Investors Management Corp raised its stake in General Motors by 0.3% during the 2nd quarter. Heritage Investors Management Corp now owns 49,657 shares of the auto manufacturer’s stock valued at $1,735,000 after purchasing an additional 130 shares during the last quarter. 74.51% of the stock is owned by institutional investors and hedge funds.
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Shares of General Motors Company (GM) traded up $0.41 during midday trading on Thursday, hitting $43.27. 3,625,450 shares of the stock traded hands, compared to its average volume of 13,435,734. The company has a market cap of $60,880.00, a price-to-earnings ratio of 6.95, a PEG ratio of 0.75 and a beta of 1.56. The company has a quick ratio of 0.79, a current ratio of 0.94 and a debt-to-equity ratio of 1.54. General Motors Company has a one year low of $31.92 and a one year high of $46.76.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, October 24th. The auto manufacturer reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.25. The company had revenue of $30.48 billion for the quarter, compared to analyst estimates of $29.93 billion. General Motors had a net margin of 2.00% and a return on equity of 20.95%. The company’s revenue for the quarter was down 16.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.72 EPS. equities research analysts expect that General Motors Company will post 6.24 EPS for the current year.
The firm 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. This represents a $1.52 annualized dividend and a dividend yield of 3.51%. The ex-dividend date is Thursday, December 7th. General Motors’s dividend payout ratio (DPR) is presently 32.90%.
In other General Motors news, Director Jane L. Mendillo bought 1,440 shares of General Motors stock in a transaction dated Friday, August 18th. The shares were bought at an average price of $34.86 per share, with a total value of $50,198.40. Following the purchase, the director now owns 4,560 shares of the company’s stock, valued at $158,961.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Alan S. Batey sold 234,274 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $38.04, for a total transaction of $8,911,782.96. Following the completion of the transaction, the insider now directly owns 67,548 shares in the company, valued at approximately $2,569,525.92. The disclosure for this sale can be found here. Insiders sold a total of 971,122 shares of company stock worth $40,627,952 in the last ninety days. Insiders own 0.04% of the company’s stock.
GM has been the subject of several research analyst reports. Deutsche Bank AG upped their target price on shares of General Motors from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. Vetr cut shares of General Motors from a “buy” rating to a “hold” rating and set a $43.99 price objective for the company. in a research note on Monday. Royal Bank Of Canada increased their price objective on shares of General Motors from $44.00 to $51.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 25th. Piper Jaffray Companies restated a “buy” rating and issued a $44.00 price objective on shares of General Motors in a research note on Tuesday, September 12th. Finally, UBS AG restated a “buy” rating and issued a $50.00 price objective (up previously from $39.00) on shares of General Motors in a research note on Wednesday, October 11th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. General Motors currently has an average rating of “Hold” and a consensus price target 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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