General Motors (GM) Position Raised by NWQ Investment Management Company LLC
NWQ Investment Management Company LLC boosted its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 12.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,816,843 shares of the auto manufacturer’s stock after purchasing an additional 201,136 shares during the quarter. General Motors comprises about 1.3% of NWQ Investment Management Company LLC’s investment portfolio, making the stock its 14th largest holding. NWQ Investment Management Company LLC owned about 0.13% of General Motors worth $66,260,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GM. TRUE Private Wealth Advisors acquired a new position in General Motors in the third quarter valued at about $106,000. Qube Research & Technologies Ltd acquired a new position in General Motors in the second quarter valued at about $115,000. MUFG Americas Holdings Corp acquired a new position in General Motors in the second quarter valued at about $123,000. Patriot Financial Group Insurance Agency LLC grew its stake in General Motors by 365.4% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 3,672 shares of the auto manufacturer’s stock valued at $124,000 after acquiring an additional 2,883 shares during the period. Finally, Camarda Financial Advisors LLC grew its stake in General Motors by 543.8% in the third quarter. Camarda Financial Advisors LLC now owns 4,088 shares of the auto manufacturer’s stock valued at $138,000 after acquiring an additional 3,453 shares during the period. Institutional investors and hedge funds own 74.31% of the company’s stock.
Shares of GM stock traded down $0.35 on Friday, hitting $35.35. 118,162 shares of the stock were exchanged, compared to its average volume of 11,878,557. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.89 and a quick ratio of 0.76. The stock has a market capitalization of $51.54 billion, a P/E ratio of 5.39, a P/E/G ratio of 0.69 and a beta of 1.25. General Motors has a fifty-two week low of $30.56 and a fifty-two week high of $45.52.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Friday, December 7th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $1.52 annualized dividend and a dividend yield of 4.30%. General Motors’s dividend payout ratio is currently 22.96%.
GM has been the subject of a number of research analyst reports. Zacks Investment Research raised General Motors from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Friday, November 16th. Morgan Stanley boosted their target price on General Motors from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Tuesday, November 6th. Bank of America reissued a “buy” rating and issued a $60.00 target price on shares of General Motors in a research note on Wednesday, September 12th. ValuEngine cut General Motors from a “hold” rating to a “sell” rating in a research note on Tuesday, September 4th. Finally, Citigroup decreased their target price on General Motors from $60.00 to $57.00 and set a “buy” rating for the company in a research note on Thursday, October 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $45.74.
About General Motors
General Motors Company, together with its subsidiaries, designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
Featured Story: Closed-End Mutual Funds
Receive News & Ratings for General Motors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Motors and related companies with MarketBeat.com's FREE daily email newsletter.