Meiji Yasuda Asset Management Co Ltd. lessened its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 5.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 42,092 shares of the auto manufacturer’s stock after selling 2,650 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in General Motors were worth $1,700,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Atria Investments LLC boosted its position in shares of General Motors by 25.5% during the second quarter. Atria Investments LLC now owns 110,336 shares of the auto manufacturer’s stock worth $3,854,000 after purchasing an additional 22,448 shares in the last quarter. Addison Capital Co increased its stake in General Motors by 16.6% in the 2nd quarter. Addison Capital Co now owns 88,037 shares of the auto manufacturer’s stock valued at $3,075,000 after buying an additional 12,551 shares during the last quarter. Heritage Investors Management Corp increased its stake in General Motors by 0.3% in the 2nd quarter. Heritage Investors Management Corp now owns 49,657 shares of the auto manufacturer’s stock valued at $1,735,000 after buying an additional 130 shares during the last quarter. Fulton Bank N.A. increased its stake in General Motors by 3.1% in the 2nd quarter. Fulton Bank N.A. now owns 9,983 shares of the auto manufacturer’s stock valued at $349,000 after buying an additional 299 shares during the last quarter. Finally, Banced Corp increased its stake in General Motors by 1.7% in the 2nd quarter. Banced Corp now owns 15,981 shares of the auto manufacturer’s stock valued at $558,000 after buying an additional 273 shares during the last quarter. 73.06% of the stock is owned by hedge funds and other institutional investors.
Shares of General Motors (GM) traded up $0.25 during trading hours on Thursday, reaching $42.02. 16,450,845 shares of the company traded hands, compared to its average volume of 13,484,767. The company has a market cap of $60,130.00, a P/E ratio of 6.91, a price-to-earnings-growth ratio of 0.74 and a beta of 1.54. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.79 and a current ratio of 0.94. General Motors has a fifty-two week low of $31.92 and a fifty-two week high of $46.76.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, October 24th. The auto manufacturer reported $1.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.25. General Motors had a net margin of 2.00% and a return on equity of 20.95%. The business had revenue of $30.48 billion during the quarter, compared to the consensus estimate of $29.93 billion. During the same quarter in the prior year, the firm earned $1.72 EPS. The firm’s revenue was down 16.6% compared to the same quarter last year. equities analysts predict that General Motors will post 6.24 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Friday, December 8th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.62%. The ex-dividend date is Thursday, December 7th. General Motors’s dividend payout ratio (DPR) is currently 32.90%.
In related news, President Daniel Ammann sold 50,000 shares of the stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $38.00, for a total transaction of $1,900,000.00. Following the transaction, the president now directly owns 185,953 shares of the company’s stock, valued at $7,066,214. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Alan S. Batey sold 234,274 shares of the firm’s stock in a transaction on 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 $2,569,525.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,059,526 shares of company stock valued at $44,428,425. Corporate insiders own 0.04% of the company’s stock.
Several research analysts have recently weighed in on the stock. Berenberg Bank set a $31.00 price objective on shares of General Motors and gave the stock a “sell” rating in a research note on Monday, August 14th. BidaskClub upgraded shares of General Motors from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Buckingham Research restated a “hold” rating on shares of General Motors in a research note on Thursday, August 24th. Piper Jaffray Companies reiterated a “buy” rating and issued a $44.00 price target on shares of General Motors in a research note on Tuesday, September 12th. Finally, Standpoint Research lowered shares of General Motors from a “buy” rating to a “hold” rating in a research note on Thursday, September 14th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. General Motors currently has an average rating of “Hold” and a consensus price target of $43.70.
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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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