318,762 General Motors Company $GM Shares Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. raised its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) by 12.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,925,457 shares of the auto manufacturer’s stock after acquiring an additional 318,762 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.35% of General Motors worth $225,877,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in GM. PBU The Pension Fund of Early Childhood & Youth Educators lifted its stake in General Motors by 28.1% in the 3rd quarter. PBU The Pension Fund of Early Childhood & Youth Educators now owns 422,525 shares of the auto manufacturer’s stock valued at $32,534,000 after purchasing an additional 92,761 shares during the last quarter. Werba Rubin Papier Wealth Management acquired a new stake in General Motors in the third quarter valued at approximately $228,000. R Squared Ltd boosted its position in General Motors by 11.9% in the third quarter. R Squared Ltd now owns 12,526 shares of the auto manufacturer’s stock valued at $965,000 after buying an additional 1,337 shares in the last quarter. Bingham Private Wealth LLC grew its stake in shares of General Motors by 2.3% during the third quarter. Bingham Private Wealth LLC now owns 6,872 shares of the auto manufacturer’s stock worth $529,000 after buying an additional 155 shares during the last quarter. Finally, Maryland State Retirement & Pension System grew its stake in shares of General Motors by 10.4% during the third quarter. Maryland State Retirement & Pension System now owns 53,717 shares of the auto manufacturer’s stock worth $4,136,000 after buying an additional 5,059 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

General Motors Trading Down 2.8%

NYSE GM opened at $86.37 on Friday. The firm has a market capitalization of $72.86 billion, a PE ratio of 19.81, a price-to-earnings-growth ratio of 0.50 and a beta of 1.40. The business’s 50-day moving average price is $83.56 and its two-hundred day moving average price is $81.00. The company has a current ratio of 1.09, a quick ratio of 0.94 and a debt-to-equity ratio of 1.32. General Motors Company has a 12 month low of $67.06 and a 12 month high of $93.70.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, October 20th. The auto manufacturer reported $3.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.69 by $0.01. The company had revenue of $50.02 billion during the quarter, compared to the consensus estimate of $48.78 billion. General Motors had a return on equity of 19.36% and a net margin of 2.12%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same period last year, the company earned $2.80 earnings per share. On average, analysts expect that General Motors Company will post 13.36 EPS for the current year.

General Motors announced that its board has approved a share buyback plan on Tuesday, October 20th that permits the company to buy back $20 billion in shares. This repurchase authorization permits the auto manufacturer to reacquire up to 27.5% of its stock through open market purchases. Share repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Friday, December 4th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Friday, December 4th. General Motors’s dividend payout ratio is currently 16.51%.

Insiders Place Their Bets

In other General Motors news, EVP Rory Harvey sold 16,513 shares of the stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $89.64, for a total transaction of $1,480,225.32. Following the completion of the sale, the executive vice president owned 12,000 shares of the company’s stock, valued at approximately $1,075,680. This represents a 57.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.44% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on GM. Jefferies Financial Group upgraded shares of General Motors from a “hold” rating to a “buy” rating and upped their price target for the stock from $90.00 to $99.00 in a report on Monday, July 27th. BNP Paribas Exane raised their price objective on General Motors from $102.00 to $112.00 and gave the company an “outperform” rating in a report on Monday, August 31st. TD Cowen reissued a “buy” rating and set a $132.00 price objective on shares of General Motors in a report on Wednesday, October 21st. Wells Fargo & Company boosted their price objective on General Motors from $60.00 to $61.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 22nd. Finally, Daiwa Securities Group upped their target price on General Motors from $83.00 to $86.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, General Motors presently has an average rating of “Moderate Buy” and a consensus price target of $101.44.

General Motors Company Profile

General Motors Company designs, manufactures and sells cars, trucks, crossovers and sport utility vehicles. Its vehicle brands include Chevrolet, Buick, GMC and Cadillac, and its offerings also include vehicle parts, software and related services. GM Financial provides automotive financing and leasing products to customers and dealers. Founded in 1908, General Motors is headquartered in Detroit, Michigan. The company serves customers in North America and international markets, with operations and sales spanning multiple regions.