66,521 Shares in General Motors (GM) Acquired by Pin Oak Investment Advisors Inc.
Pin Oak Investment Advisors Inc. acquired a new stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 66,521 shares of the auto manufacturer’s stock, valued at approximately $2,727,000. General Motors accounts for approximately 2.1% of Pin Oak Investment Advisors Inc.’s investment portfolio, making the stock its 8th largest holding.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Advent Capital Management DE grew its holdings in General Motors by 30.6% during the fourth quarter. Advent Capital Management DE now owns 198,541 shares of the auto manufacturer’s stock valued at $8,138,000 after purchasing an additional 46,541 shares during the period. Alyeska Investment Group L.P. grew its holdings in General Motors by 181.5% during the third quarter. Alyeska Investment Group L.P. now owns 1,809,371 shares of the auto manufacturer’s stock valued at $73,062,000 after purchasing an additional 1,166,696 shares during the period. Dimensional Fund Advisors LP grew its holdings in General Motors by 2.3% during the third quarter. Dimensional Fund Advisors LP now owns 14,900,059 shares of the auto manufacturer’s stock valued at $601,683,000 after purchasing an additional 331,621 shares during the period. Steward Partners Investment Advisory LLC bought a new position in General Motors during the third quarter valued at $701,000. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in General Motors by 154.4% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,923,200 shares of the auto manufacturer’s stock valued at $242,792,000 after purchasing an additional 3,594,700 shares during the period. 73.54% of the stock is owned by institutional investors and hedge funds.
In related news, CAO Thomas S. Timko sold 8,461 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $42.06, for a total value of $355,869.66. Following the sale, the chief accounting officer now owns 33,519 shares in the company, valued at $1,409,809.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Retiree Medical Benefits T. Uaw sold 40,000,000 shares of the stock in a transaction on 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 disclosure for this sale can be found here. Insiders sold 40,289,848 shares of company stock worth $1,600,694,061 in the last quarter. 0.04% of the stock is currently owned by company insiders.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, February 6th. The auto manufacturer reported $1.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 company had revenue of $34.48 billion for the quarter, compared to the consensus estimate of $34.28 billion. During the same quarter last year, the business posted $1.28 earnings per share. The firm’s revenue was down 7.7% compared to the same quarter last year. analysts expect that General Motors will post 6.25 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Friday, March 9th will be given a $0.38 dividend. The ex-dividend date is Thursday, March 8th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.04%. General Motors’s dividend payout ratio (DPR) is presently -52.59%.
Several equities analysts have weighed in on GM shares. Vetr lowered General Motors from a “hold” rating to a “sell” rating and set a $40.10 price objective for the company. in a report on Tuesday, December 26th. Zacks Investment Research lowered General Motors from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Barclays reissued a “buy” rating and set a $61.00 price objective on shares of General Motors in a report on Tuesday, January 9th. Bank of America reissued a “buy” rating and set a $57.00 price objective on shares of General Motors in a report on Tuesday, November 28th. Finally, Royal Bank of Canada raised General Motors from a “sector perform” rating to an “outperform” rating and increased their price objective for the company 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 given a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $44.79.
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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