Westover Capital Advisors LLC decreased its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 10.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,054 shares of the auto manufacturer’s stock after selling 10,432 shares during the period. General Motors comprises 2.0% of Westover Capital Advisors LLC’s investment portfolio, making the stock its 9th biggest position. Westover Capital Advisors LLC’s holdings in General Motors were worth $3,691,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Franklin Resources Inc. lifted its stake in General Motors by 26.7% during the 4th quarter. Franklin Resources Inc. now owns 21,868,641 shares of the auto manufacturer’s stock worth $896,398,000 after acquiring an additional 4,611,023 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in General Motors by 2.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 14,900,059 shares of the auto manufacturer’s stock worth $601,683,000 after acquiring an additional 331,621 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in General Motors by 1.0% during the 4th quarter. Bank of New York Mellon Corp now owns 11,020,001 shares of the auto manufacturer’s stock worth $451,709,000 after acquiring an additional 110,658 shares in the last quarter. Janus Henderson Group PLC lifted its stake in General Motors by 5.5% during the 3rd quarter. Janus Henderson Group PLC now owns 10,815,151 shares of the auto manufacturer’s stock worth $436,729,000 after acquiring an additional 567,980 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in General Motors by 0.7% during the 3rd quarter. Legal & General Group Plc now owns 7,828,786 shares of the auto manufacturer’s stock worth $316,139,000 after acquiring an additional 56,115 shares in the last quarter. 73.54% of the stock is currently owned by hedge funds and other institutional investors.
GM has been the topic of several research reports. Vetr lowered General Motors from a “hold” rating to a “sell” rating and set a $40.10 target price on the stock. in a research note on Tuesday, December 26th. Zacks Investment Research downgraded General Motors from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Barclays restated a “buy” rating and set a $61.00 price target on shares of General Motors in a report on Tuesday, January 9th. Bank of America restated a “buy” rating and set a $57.00 price target on shares of General Motors in a report on Tuesday, November 28th. Finally, Royal Bank of Canada upgraded General Motors from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $51.00 to $52.00 in a report on Tuesday, December 19th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company’s stock. General Motors currently has an average rating of “Buy” and an average target price of $44.79.
GM stock opened at $37.10 on Wednesday. General Motors has a 1-year low of $31.92 and a 1-year high of $46.76. The company has a market capitalization of $51,926.62, a PE ratio of -12.76, a PEG ratio of 0.71 and a beta of 1.60. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.89 and a quick ratio of 0.76.
General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, February 6th. The auto manufacturer reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.31. General Motors had a positive return on equity of 22.86% and a negative net margin of 2.58%. The business had revenue of $34.48 billion for the quarter, compared to the consensus estimate of $34.28 billion. During the same quarter in the prior year, the business posted $1.28 EPS. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. sell-side analysts forecast that General Motors will post 6.25 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Friday, March 9th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.10%. General Motors’s payout ratio is currently -52.59%.
In other news, Director Retiree Medical Benefits T. Uaw sold 40,000,000 shares of the stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $39.71, for a total value of $1,588,400,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Barry L. Engle II sold 50,443 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $45.00, for a total value of $2,269,935.00. Following the completion of the transaction, the insider now owns 57,091 shares in the company, valued at approximately $2,569,095. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,289,848 shares of company stock worth $1,600,694,061. Company 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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