Balasa Dinverno & Foltz LLC Has $1.74 Million Stake in General Motors Company (GM)
Balasa Dinverno & Foltz LLC lifted its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) by 11.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,017 shares of the auto manufacturer’s stock after buying an additional 4,433 shares during the period. Balasa Dinverno & Foltz LLC’s holdings in General Motors were worth $1,737,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of GM. Vanguard Group Inc. boosted its holdings in General Motors by 4.0% in the second quarter. Vanguard Group Inc. now owns 93,414,041 shares of the auto manufacturer’s stock valued at $3,262,952,000 after purchasing an additional 3,560,717 shares during the last quarter. BlackRock Inc. boosted its holdings in General Motors by 1.1% in the second quarter. BlackRock Inc. now owns 78,753,259 shares of the auto manufacturer’s stock valued at $2,750,849,000 after purchasing an additional 850,211 shares during the last quarter. State Street Corp boosted its holdings in General Motors by 3.9% in the first quarter. State Street Corp now owns 60,423,820 shares of the auto manufacturer’s stock valued at $2,136,563,000 after purchasing an additional 2,252,866 shares during the last quarter. Berkshire Hathaway Inc. boosted its holdings in General Motors by 20.0% in the second quarter. Berkshire Hathaway Inc. now owns 60,000,000 shares of the auto manufacturer’s stock valued at $2,095,800,000 after purchasing an additional 10,000,000 shares during the last quarter. Finally, Capital World Investors boosted its holdings in General Motors by 5.0% in the second quarter. Capital World Investors now owns 31,327,192 shares of the auto manufacturer’s stock valued at $1,094,259,000 after purchasing an additional 1,500,500 shares during the last quarter. 72.21% of the stock is owned by institutional investors.
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In other news, VP Thomas S. Timko sold 17,255 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $35.79, for a total value of $617,556.45. Following the transaction, the vice president now directly owns 26,100 shares of the company’s stock, valued at approximately $934,119. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Patricia F. Russo bought 10,000 shares of General Motors stock in a transaction dated Tuesday, August 1st. The stock was acquired at an average cost of $34.73 per share, for a total transaction of $347,300.00. Following the completion of the acquisition, the director now directly owns 12,300 shares in the company, valued at $427,179. The disclosure for this purchase can be found here. Insiders sold a total of 852,901 shares of company stock worth $32,378,733 over the last three months. 0.04% of the stock is owned by company insiders.
A number of research analysts recently commented on the company. Piper Jaffray Companies set a $44.00 price target on General Motors and gave the company a “buy” rating in a report on Monday, October 16th. UBS AG reissued a “buy” rating and issued a $50.00 price target (up previously from $39.00) on shares of General Motors in a report on Wednesday, October 11th. Citigroup Inc. reissued a “buy” rating and issued a $53.00 price target on shares of General Motors in a report on Monday, October 9th. Barclays PLC raised General Motors from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $41.00 to $55.00 in a report on Friday, October 13th. Finally, Royal Bank Of Canada increased their price target on General Motors from $38.00 to $44.00 and gave the company a “sector perform” rating in a report on Thursday, October 5th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $42.50.
Shares of General Motors Company (NYSE:GM) traded up 0.57% during mid-day trading on Friday, hitting $45.61. The stock had a trading volume of 12,203,186 shares. The stock has a market cap of $66.46 billion, a price-to-earnings ratio of 7.93 and a beta of 1.45. The firm has a 50 day moving average of $41.31 and a 200 day moving average of $36.27. General Motors Company has a one year low of $30.21 and a one year high of $46.11.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 EPS for the quarter, topping the consensus estimate of $1.72 by $0.17. The business had revenue of $36.98 billion for the quarter, compared to the consensus estimate of $37.67 billion. General Motors had a return on equity of 22.45% and a net margin of 5.38%. General Motors’s revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.86 EPS. On average, analysts forecast that General Motors Company will post $6.12 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, September 8th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend was Thursday, September 7th. General Motors’s payout ratio is currently 26.48%.
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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