General Motors (GM) Stake Lowered by Staley Capital Advisers Inc.
Staley Capital Advisers Inc. trimmed its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 1.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,174,073 shares of the auto manufacturer’s stock after selling 12,048 shares during the quarter. General Motors makes up 3.9% of Staley Capital Advisers Inc.’s holdings, making the stock its 5th biggest holding. Staley Capital Advisers Inc. owned approximately 0.08% of General Motors worth $47,409,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Intrust Bank NA lifted its stake in shares of General Motors by 0.3% in the second quarter. Intrust Bank NA now owns 7,174 shares of the auto manufacturer’s stock worth $250,000 after acquiring an additional 25 shares during the period. IFC Holdings Incorporated FL lifted its stake in shares of General Motors by 0.3% in the second quarter. IFC Holdings Incorporated FL now owns 32,119 shares of the auto manufacturer’s stock worth $1,120,000 after acquiring an additional 88 shares during the period. Eads & Heald Investment Counsel lifted its stake in shares of General Motors by 2.9% in the second quarter. Eads & Heald Investment Counsel now owns 5,910 shares of the auto manufacturer’s stock worth $206,000 after acquiring an additional 165 shares during the period. Peapack Gladstone Financial Corp lifted its stake in shares of General Motors by 2.7% in the second quarter. Peapack Gladstone Financial Corp now owns 6,428 shares of the auto manufacturer’s stock worth $225,000 after acquiring an additional 166 shares during the period. Finally, Cubic Asset Management LLC lifted its stake in shares of General Motors by 0.8% in the second quarter. Cubic Asset Management LLC now owns 28,495 shares of the auto manufacturer’s stock worth $995,000 after acquiring an additional 235 shares during the period. 73.50% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CFO Charles K. Stevens III sold 265,458 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $44.49, for a total transaction of $11,810,226.42. Following the completion of the sale, the chief financial officer now owns 326,510 shares in the company, valued at $14,526,429.90. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Alan S. Batey sold 234,274 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $38.04, for a total value of $8,911,782.96. Following the sale, the insider now owns 67,548 shares of the company’s stock, valued at approximately $2,569,525.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 971,122 shares of company stock valued at $40,627,952. Corporate insiders own 0.04% of the company’s stock.
A number of equities analysts recently commented on GM shares. Deutsche Bank AG reaffirmed a “buy” rating on shares of General Motors in a research note on Friday, November 17th. Vetr lowered General Motors from a “buy” rating to a “hold” rating and set a $43.99 price objective on the stock. in a research note on Monday, November 13th. Royal Bank Of Canada lifted their price objective on General Motors from $44.00 to $51.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 25th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $44.00 price objective on shares of General Motors in a research note on Tuesday, September 12th. Finally, UBS AG reaffirmed a “buy” rating and issued a $50.00 price objective (up from $39.00) on shares of General Motors in a research note on Wednesday, October 11th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. General Motors currently has an average rating of “Hold” and a consensus target price of $43.61.
General Motors (NYSE:GM) traded down $0.19 during midday trading on Monday, hitting $44.27. The stock had a trading volume of 763,250 shares, compared to its average volume of 13,356,496. The company has a market capitalization of $63,151.34, a P/E ratio of 7.18, a price-to-earnings-growth ratio of 0.77 and a beta of 1.56. General Motors has a 52-week low of $31.92 and a 52-week high of $46.76. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.79 and a current ratio of 0.94.
General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, October 24th. The auto manufacturer reported $1.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.25. The firm had revenue of $30.48 billion during the quarter, compared to the consensus estimate of $29.93 billion. General Motors had a return on equity of 1.03% and a net margin of 0.34%. The company’s quarterly revenue was down 16.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.72 earnings per share. equities analysts expect that General Motors will post 6.24 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Friday, December 8th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $1.52 annualized dividend and a dividend yield of 3.43%. General Motors’s dividend payout ratio is 77.95%.
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General Motors Profile
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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