Cadence Capital Management LLC Decreases Position in General Motors (GM)

Cadence Capital Management LLC reduced its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 11.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 149,554 shares of the auto manufacturer’s stock after selling 18,403 shares during the quarter. Cadence Capital Management LLC’s holdings in General Motors were worth $5,035,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of GM. TRUE Private Wealth Advisors acquired a new stake in shares of General Motors during the third quarter worth approximately $106,000. Qube Research & Technologies Ltd bought a new position in General Motors during the second quarter valued at approximately $115,000. MUFG Americas Holdings Corp bought a new position in General Motors during the second quarter valued at approximately $123,000. Patriot Financial Group Insurance Agency LLC raised its position in General Motors by 365.4% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 3,672 shares of the auto manufacturer’s stock valued at $124,000 after acquiring an additional 2,883 shares in the last quarter. Finally, Kaizen Advisory LLC raised its position in General Motors by 163.6% during the second quarter. Kaizen Advisory LLC now owns 3,298 shares of the auto manufacturer’s stock valued at $130,000 after acquiring an additional 2,047 shares in the last quarter. Institutional investors and hedge funds own 73.90% of the company’s stock.

Several equities analysts recently weighed in on the stock. ValuEngine raised shares of General Motors from a “sell” rating to a “hold” rating in a research report on Thursday. Piper Jaffray Companies set a $51.00 price objective on shares of General Motors and gave the company a “buy” rating in a research report on Wednesday, July 25th. Royal Bank of Canada raised their price objective on shares of General Motors from $52.00 to $53.00 and gave the company an “outperform” rating in a research report on Tuesday, July 10th. Buckingham Research cut their price objective on shares of General Motors from $39.00 to $37.00 and set a “neutral” rating on the stock in a research report on Thursday, July 26th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $39.00 price objective on shares of General Motors in a research report on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company’s stock. General Motors currently has a consensus rating of “Buy” and an average target price of $46.85.

NYSE:GM opened at $36.03 on Monday. General Motors has a 12 month low of $30.56 and a 12 month high of $45.52. The company has a market capitalization of $50.85 billion, a PE ratio of 5.44, a PEG ratio of 0.69 and a beta of 1.25. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.76 and a current ratio of 0.89.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Wednesday, October 31st. The auto manufacturer reported $1.87 EPS for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.62. General Motors had a net margin of 0.56% and a return on equity of 25.81%. The company had revenue of $35.79 billion for the quarter, compared to analyst estimates of $34.85 billion. During the same quarter last year, the firm posted $1.32 earnings per share. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. Analysts predict that General Motors will post 6.12 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Friday, December 7th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date of this dividend is Thursday, December 6th. General Motors’s dividend payout ratio is 22.96%.

About General Motors

General Motors Company, together with its subsidiaries, designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

Featured Article: Cost of Debt

Want to see what other hedge funds are holding GM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Motors (NYSE:GM) (TSE:GMM.U).

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

Receive News & Ratings for General Motors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Motors and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply