Vident Investment Advisory LLC Acquires 10,259 Shares of General Motors (GM)
Vident Investment Advisory LLC raised its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 13.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 88,688 shares of the auto manufacturer’s stock after purchasing an additional 10,259 shares during the period. Vident Investment Advisory LLC’s holdings in General Motors were worth $3,582,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. YorkBridge Wealth Partners LLC increased its position in General Motors by 43.5% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,838 shares of the auto manufacturer’s stock valued at $101,000 after acquiring an additional 860 shares during the period. State of Alaska Department of Revenue increased its position in shares of General Motors by 10.5% during the second quarter. State of Alaska Department of Revenue now owns 3,249 shares of the auto manufacturer’s stock worth $113,000 after buying an additional 310 shares during the period. Ffcm LLC increased its position in shares of General Motors by 2,008.1% during the second quarter. Ffcm LLC now owns 3,373 shares of the auto manufacturer’s stock worth $120,000 after buying an additional 3,213 shares during the period. Ropes Wealth Advisors LLC increased its position in shares of General Motors by 240.2% during the second quarter. Ropes Wealth Advisors LLC now owns 4,600 shares of the auto manufacturer’s stock worth $161,000 after buying an additional 3,248 shares during the period. Finally, Fayez Sarofim & Co. acquired a new stake in shares of General Motors during the third quarter worth $202,000. 73.06% of the stock is owned by hedge funds and other institutional investors.
Shares of General Motors (NYSE GM) opened at $42.02 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.94 and a debt-to-equity ratio of 1.54. The firm has a market capitalization of $59,685.54, a PE ratio of 6.79, a price-to-earnings-growth ratio of 0.73 and a beta of 1.54. General Motors has a twelve month low of $31.92 and a twelve month high of $46.76.
General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, October 24th. The auto manufacturer reported $1.32 EPS for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.25. General Motors had a return on equity of 20.95% and a net margin of 2.00%. The firm had revenue of $30.48 billion during the quarter, compared to the consensus estimate of $29.93 billion. During the same quarter in the previous year, the company posted $1.72 earnings per share. The company’s revenue was down 16.6% compared to the same quarter last year. sell-side analysts forecast that General Motors will post 6.24 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Friday, December 8th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date is Thursday, December 7th. General Motors’s payout ratio is presently 77.95%.
In related news, EVP Stefan Jacoby sold 37,961 shares of the stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $42.87, for a total transaction of $1,627,388.07. Following the transaction, the executive vice president now owns 98,340 shares of the company’s stock, valued at approximately $4,215,835.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Charles K. Stevens III sold 265,458 shares of the stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $44.49, for a total value of $11,810,226.42. Following the transaction, the chief financial officer now directly owns 326,510 shares in the company, valued at approximately $14,526,429.90. The disclosure for this sale can be found here. Insiders sold 1,059,526 shares of company stock valued at $44,428,425 over the last 90 days. Company insiders own 0.04% of the company’s stock.
A number of research analysts have weighed in on the stock. Cascend Securities lowered shares of General Motors to a “buy” rating in a research note on Tuesday, December 5th. Vetr downgraded shares of General Motors from a “strong-buy” rating to a “hold” rating and set a $43.99 target price for the company. in a report on Monday, December 4th. Barclays restated an “overweight” rating and set a $57.00 price objective (up previously from $55.00) on shares of General Motors in a report on Friday, December 1st. Morgan Stanley reiterated a “hold” rating and issued a $43.00 target price on shares of General Motors in a research note on Tuesday, November 28th. Finally, Bank of America reiterated a “buy” rating and issued a $57.00 target price on shares of General Motors in a research note on Tuesday, November 28th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. General Motors has a consensus rating of “Hold” and an average price target of $43.70.
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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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