American Century Companies Inc. reduced its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) by 37.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 756,803 shares of the auto manufacturer’s stock after selling 461,218 shares during the period. American Century Companies Inc. owned 0.05% of General Motors worth $30,560,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake 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 in the last quarter. BlackRock Inc. increased its stake 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 in the last quarter. Berkshire Hathaway Inc. increased its stake 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 in the last quarter. Capital World Investors increased its stake 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 in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in General Motors by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 14,568,438 shares of the auto manufacturer’s stock valued at $508,880,000 after purchasing an additional 59,774 shares in the last quarter. 74.51% of the stock is owned by hedge funds and other institutional investors.
In other General Motors news, President Daniel Ammann sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $38.00, for a total value of $1,900,000.00. Following the completion of the transaction, the president now owns 185,953 shares of the company’s stock, valued at approximately $7,066,214. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Thomas S. Timko sold 44,791 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $44.46, for a total transaction of $1,991,407.86. Following the completion of the transaction, the chief accounting officer now directly owns 66,838 shares of the company’s stock, valued at approximately $2,971,617.48. The disclosure for this sale can be found here. Insiders have sold a total of 971,122 shares of company stock worth $40,627,952 in the last ninety days. 0.04% of the stock is currently owned by insiders.
Several research firms have weighed in on GM. Vetr downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $43.99 price target for the company. in a research note on Monday. BidaskClub upgraded shares of General Motors from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Royal Bank Of Canada lifted their price objective on shares of General Motors from $37.00 to $38.00 and gave the company a “sector perform” rating in a report on Wednesday, July 26th. Jefferies Group LLC lifted their price objective on shares of General Motors from $36.00 to $40.00 and gave the company a “hold” rating in a report on Monday, October 30th. Finally, Standpoint Research cut shares of General Motors from a “buy” rating to a “hold” rating in a report on Thursday, September 14th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $43.61.
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Shares of General Motors Company (GM) opened at $43.57 on Tuesday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.79 and a current ratio of 0.94. The firm has a market cap of $60,594.61, a P/E ratio of 6.89, a P/E/G ratio of 0.74 and a beta of 1.56. General Motors Company has a twelve month low of $31.92 and a twelve month high of $46.76.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, October 24th. The auto manufacturer reported $1.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.25. The business had revenue of $30.48 billion for the quarter, compared to analyst estimates of $29.93 billion. General Motors had a net margin of 2.00% and a return on equity of 20.95%. General Motors’s revenue was down 16.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.72 EPS. analysts forecast that General Motors Company will post 6.24 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Friday, December 8th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date is Thursday, December 7th. General Motors’s dividend payout ratio (DPR) is presently 77.95%.
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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