Psagot Investment House Ltd. boosted its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 51.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 74,715 shares of the auto manufacturer’s stock after buying an additional 25,375 shares during the quarter. Psagot Investment House Ltd.’s holdings in General Motors were worth $3,017,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of GM. Intrust Bank NA increased its holdings in shares of 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 buying an additional 25 shares in the last quarter. IFC Holdings Incorporated FL increased its holdings in shares of General Motors by 0.3% during the second quarter. IFC Holdings Incorporated FL now owns 32,119 shares of the auto manufacturer’s stock worth $1,120,000 after buying an additional 88 shares in the last quarter. Peapack Gladstone Financial Corp increased its holdings in shares of General Motors by 2.7% during the second quarter. Peapack Gladstone Financial Corp now owns 6,428 shares of the auto manufacturer’s stock worth $225,000 after buying an additional 166 shares in the last quarter. Pineno Levin & Ford Asset Management Inc. increased its holdings in shares of General Motors by 0.3% during the second quarter. Pineno Levin & Ford Asset Management Inc. now owns 88,679 shares of the auto manufacturer’s stock worth $3,098,000 after buying an additional 305 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in shares of General Motors by 10.5% during the second quarter. State of Alaska Department of Revenue now owns 3,249 shares of the auto manufacturer’s stock worth $113,000 after buying an additional 310 shares in the last quarter. 73.06% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on GM. Deutsche Bank reissued a “buy” rating on shares of General Motors in a report on Friday, November 17th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $44.00 target price on shares of General Motors in a report on Tuesday, September 12th. Goldman Sachs Group lowered shares of General Motors from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $43.16 to $32.00 in a report on Monday, October 30th. Royal Bank Of Canada lifted their target price on shares of General Motors from $44.00 to $51.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 25th. Finally, Barclays raised shares of General Motors from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $41.00 to $55.00 in a report on Friday, October 13th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $43.70.
Shares of General Motors (NYSE GM) traded down $0.65 on Thursday, reaching $42.15. 12,868,400 shares of the company were exchanged, compared to its average volume of 13,472,148. General Motors has a twelve month low of $31.92 and a twelve month high of $46.76. The firm has a market cap of $60,793.46, a price-to-earnings ratio of 6.91, a P/E/G 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 (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, October 24th. The auto manufacturer reported $1.32 EPS for the quarter, beating the Zacks’ 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 for the quarter, compared to analyst estimates of $29.93 billion. During the same quarter in the prior year, the business earned $1.72 EPS. General Motors’s quarterly revenue was down 16.6% on a year-over-year basis. analysts anticipate that General Motors will post 6.24 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Friday, December 8th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend is Thursday, December 7th. General Motors’s dividend payout ratio is currently 77.95%.
In related news, insider Barry L. Engle II sold 50,443 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $43.08, for a total value of $2,173,084.44. Following the completion of the transaction, the insider now owns 57,091 shares of the company’s stock, valued at approximately $2,459,480.28. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Charles K. Stevens III sold 265,458 shares of the stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $44.49, for a total transaction of $11,810,226.42. Following the completion of the transaction, the chief financial officer now directly owns 326,510 shares of the company’s stock, valued at approximately $14,526,429.90. The disclosure for this sale can be found here. Insiders sold a total of 1,021,565 shares of company stock valued at $42,801,037 in the last three months. Insiders own 0.04% of the company’s stock.
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About General Motors
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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