Public Employees Retirement System of Ohio lessened its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 4.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 917,643 shares of the auto manufacturer’s stock after selling 44,199 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.06% of General Motors worth $37,054,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Berkshire Hathaway Inc. grew its holdings in General Motors by 20.0% during the second quarter. Berkshire Hathaway Inc. now owns 60,000,000 shares of the auto manufacturer’s stock worth $2,095,800,000 after acquiring an additional 10,000,000 shares during the period. Swiss National Bank grew its holdings in General Motors by 1.2% during the second quarter. Swiss National Bank now owns 4,925,857 shares of the auto manufacturer’s stock worth $172,060,000 after acquiring an additional 56,500 shares during the period. State of Tennessee Treasury Department grew its holdings in General Motors by 0.4% during the second quarter. State of Tennessee Treasury Department now owns 825,599 shares of the auto manufacturer’s stock worth $28,839,000 after acquiring an additional 3,298 shares during the period. Intrust Bank NA grew its holdings in General Motors by 0.3% during the second quarter. Intrust Bank NA now owns 7,174 shares of the auto manufacturer’s stock worth $250,000 after acquiring an additional 25 shares during the period. Finally, Commonwealth Bank of Australia grew its holdings in General Motors by 12.5% during the second quarter. Commonwealth Bank of Australia now owns 739,220 shares of the auto manufacturer’s stock worth $25,819,000 after acquiring an additional 82,201 shares during the period. 73.06% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CFO Charles K. Stevens III sold 265,458 shares of the stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $44.49, for a total transaction of $11,810,226.42. Following the transaction, the chief financial officer now directly owns 326,510 shares in the company, valued at $14,526,429.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 value of $1,627,388.07. Following the transaction, the executive vice president now owns 98,340 shares in the company, valued at $4,215,835.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 775,252 shares of company stock worth $33,616,642. Corporate insiders own 0.04% of the company’s stock.
GM has been the topic of a number of recent analyst reports. Buckingham Research reaffirmed a “hold” rating on shares of General Motors in a report on Thursday, August 24th. Piper Jaffray Companies reissued a “buy” rating and issued a $44.00 target price on shares of General Motors in a report on Tuesday, September 12th. Standpoint Research lowered General Motors from a “buy” rating to a “hold” rating in a report on Thursday, September 14th. Morgan Stanley reissued an “overweight” rating and issued a $43.00 target price (up previously from $40.00) on shares of General Motors in a report on Thursday, September 21st. Finally, Deutsche Bank raised General Motors from a “hold” rating to a “buy” rating and upped their target price for the company from $36.00 to $51.00 in a report on Monday, September 25th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $43.70.
Shares of General Motors (NYSE GM) opened at $40.95 on Friday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.79 and a current ratio of 0.94. The company has a market capitalization of $57,966.86, a price-to-earnings ratio of 6.59, a P/E/G ratio of 0.71 and a beta of 1.54. General Motors has a 52 week low of $31.92 and a 52 week high of $46.76.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, October 24th. The auto manufacturer reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.25. The business had revenue of $30.48 billion for the quarter, compared to analyst estimates of $29.93 billion. General Motors had a return on equity of 20.95% and a net margin of 2.00%. The business’s revenue for the quarter was down 16.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.72 earnings per share. research analysts expect that General Motors will post 6.24 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Friday, December 8th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend is Thursday, December 7th. General Motors’s payout ratio is currently 77.95%.
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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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