Virtus Fund Advisers LLC Cuts Holdings in General Motors (GM)

Virtus Fund Advisers LLC lessened its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 12.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,483 shares of the auto manufacturer’s stock after selling 19,200 shares during the period. Virtus Fund Advisers LLC’s holdings in General Motors were worth $5,472,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Swiss National Bank grew its stake in General Motors by 1.6% in the 3rd quarter. Swiss National Bank now owns 5,006,857 shares of the auto manufacturer’s stock worth $202,177,000 after buying an additional 81,000 shares in the last quarter. Alyeska Investment Group L.P. grew its stake in General Motors by 181.5% in the 3rd quarter. Alyeska Investment Group L.P. now owns 1,809,371 shares of the auto manufacturer’s stock worth $73,062,000 after buying an additional 1,166,696 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in General Motors by 2.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 14,900,059 shares of the auto manufacturer’s stock worth $601,683,000 after buying an additional 331,621 shares in the last quarter. Lehman Financial Resources Inc. grew its stake in General Motors by 6.4% in the 3rd quarter. Lehman Financial Resources Inc. now owns 67,653 shares of the auto manufacturer’s stock worth $2,731,000 after buying an additional 4,050 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new position in General Motors in the 3rd quarter worth approximately $701,000. 73.74% of the stock is owned by institutional investors and hedge funds.

Shares of General Motors (NYSE GM) opened at $40.56 on Thursday. General Motors has a 1-year low of $31.92 and a 1-year high of $46.76. 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 $57,610.00, a price-to-earnings ratio of 7.88, a P/E/G ratio of 0.78 and a beta of 1.59.

General Motors (NYSE:GM) (TSE:GMM.U) last posted 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. General Motors had a negative net margin of 2.58% and a positive return on equity of 22.86%. The company had revenue of $34.48 billion during the quarter, compared to analyst estimates of $34.28 billion. During the same period in the prior year, the business posted $1.28 EPS. The firm’s revenue was down 7.7% compared to the same quarter last year. equities analysts anticipate that General Motors will post 6.25 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Friday, March 9th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $1.52 dividend on an annualized basis and a yield of 3.75%. General Motors’s dividend payout ratio is currently 29.51%.

GM has been the subject of a number of recent research reports. Evercore ISI boosted their price objective on shares of General Motors from $40.00 to $41.38 in a report on Friday, December 29th. Vetr upgraded shares of General Motors from a “hold” rating to a “buy” rating and set a $43.99 price objective for the company in a report on Monday, November 6th. Guggenheim upgraded shares of General Motors from a “neutral” rating to a “buy” rating and set a $37.00 price objective for the company in a report on Monday, November 20th. Deutsche Bank restated a “buy” rating on shares of General Motors in a report on Friday, November 17th. Finally, Bank of America restated a “buy” rating and issued a $57.00 price objective on shares of General Motors in a report on Tuesday, November 28th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $44.44.

In other General Motors news, CAO Thomas S. Timko sold 8,461 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $42.06, for a total transaction of $355,869.66. Following the transaction, 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 can be accessed through the SEC website. Also, insider Barry L. Engle II sold 50,443 shares of the business’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $45.00, for a total transaction of $2,269,935.00. Following the transaction, the insider now directly owns 57,091 shares in the company, valued at $2,569,095. The disclosure for this sale can be found here. Insiders have sold a total of 378,252 shares of company stock valued at $16,094,534 over the last quarter. 0.04% of the stock is currently owned by company insiders.

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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.

Institutional Ownership by Quarter for General Motors (NYSE:GM)

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