Cleararc Capital Inc. Buys 1,475 Shares of General Motors (GM)

Cleararc Capital Inc. boosted its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 4.5% during the third quarter, HoldingsChannel reports. The firm owned 33,956 shares of the auto manufacturer’s stock after purchasing an additional 1,475 shares during the quarter. Cleararc Capital Inc.’s holdings in General Motors were worth $1,143,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. boosted its holdings in General Motors by 9.4% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 129,361 shares of the auto manufacturer’s stock worth $4,356,000 after acquiring an additional 11,139 shares in the last quarter. MML Investors Services LLC boosted its holdings in General Motors by 67.4% in the third quarter. MML Investors Services LLC now owns 110,433 shares of the auto manufacturer’s stock worth $3,718,000 after acquiring an additional 44,449 shares in the last quarter. Nikko Asset Management Americas Inc. boosted its holdings in General Motors by 21.6% in the third quarter. Nikko Asset Management Americas Inc. now owns 346,829 shares of the auto manufacturer’s stock worth $11,868,000 after acquiring an additional 61,723 shares in the last quarter. Wilsey Asset Management Inc. boosted its holdings in General Motors by 6.2% in the third quarter. Wilsey Asset Management Inc. now owns 305,602 shares of the auto manufacturer’s stock worth $10,347,000 after acquiring an additional 17,774 shares in the last quarter. Finally, Trilogy Capital Inc. boosted its holdings in General Motors by 32.3% in the second quarter. Trilogy Capital Inc. now owns 21,586 shares of the auto manufacturer’s stock worth $850,000 after acquiring an additional 5,265 shares in the last quarter. 74.31% of the stock is currently owned by institutional investors.

Several equities research analysts have weighed in on GM shares. Morgan Stanley lowered their price target on General Motors from $50.00 to $46.00 and set an “overweight” rating for the company in a report on Friday, August 17th. ValuEngine downgraded General Motors from a “hold” rating to a “sell” rating in a report on Tuesday, September 4th. Zacks Investment Research downgraded General Motors from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 5th. Goldman Sachs Group set a $36.00 price target on General Motors and gave the stock a “neutral” rating in a report on Tuesday, September 11th. Finally, Bank of America reissued a “buy” rating and issued a $60.00 price target on shares of General Motors in a report on Wednesday, September 12th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $45.74.

Shares of NYSE:GM opened at $35.70 on Friday. General Motors has a 52-week low of $30.56 and a 52-week high of $45.52. The stock has a market capitalization of $51.54 billion, a PE ratio of 5.40, a PEG ratio of 0.69 and a beta of 1.25. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.89 and a quick ratio of 0.76.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Wednesday, October 31st. The auto manufacturer reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.62. General Motors had a return on equity of 25.81% and a net margin of 0.56%. The firm had revenue of $35.79 billion during the quarter, compared to analysts’ expectations of $34.85 billion. During the same period last year, the business posted $1.32 earnings per share. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, equities analysts predict that General Motors will post 6.26 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Friday, December 7th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 4.26%. The ex-dividend date of this dividend is Thursday, December 6th. General Motors’s payout ratio is 22.96%.

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General Motors Profile

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.

Further Reading: What is an SEC Filing?

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)

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