Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its holdings in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 1.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 326,739 shares of the auto manufacturer’s stock after selling 6,404 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in General Motors were worth $13,194,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the company. Berkshire Hathaway Inc. raised its holdings in shares of General Motors by 20.0% during the 2nd quarter. Berkshire Hathaway Inc. now owns 60,000,000 shares of the auto manufacturer’s stock valued at $2,095,800,000 after buying an additional 10,000,000 shares in the last quarter. Swiss National Bank raised its holdings in shares of General Motors by 1.2% during the 2nd quarter. Swiss National Bank now owns 4,925,857 shares of the auto manufacturer’s stock valued at $172,060,000 after buying an additional 56,500 shares in the last quarter. State of Tennessee Treasury Department raised its holdings in shares of General Motors by 0.4% during the 2nd quarter. State of Tennessee Treasury Department now owns 825,599 shares of the auto manufacturer’s stock valued at $28,839,000 after buying an additional 3,298 shares in the last quarter. Intrust Bank NA increased its stake in General Motors by 0.3% in the 2nd quarter. Intrust Bank NA now owns 7,174 shares of the auto manufacturer’s stock worth $250,000 after purchasing an additional 25 shares during the period. Finally, Commonwealth Bank of Australia increased its stake in General Motors by 12.5% in the 2nd quarter. Commonwealth Bank of Australia now owns 739,220 shares of the auto manufacturer’s stock worth $25,819,000 after purchasing an additional 82,201 shares during the period. Hedge funds and other institutional investors own 74.51% of the company’s stock.
Shares of General Motors Company (NYSE GM) traded down $0.62 during trading on Tuesday, reaching $42.95. The company had a trading volume of 5,739,176 shares, compared to its average volume of 13,453,168. General Motors Company has a 52 week low of $31.92 and a 52 week high of $46.76. The company has a market capitalization of $61,890.00, a price-to-earnings ratio of 6.89, a PEG ratio of 0.74 and a beta of 1.56. 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 posted its quarterly earnings data on Tuesday, October 24th. The auto manufacturer reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.25. The business had revenue of $30.48 billion during the quarter, compared to analyst estimates of $29.93 billion. General Motors had a return on equity of 20.95% and a net margin of 2.00%. The company’s revenue for the quarter was down 16.6% on a year-over-year basis. During the same period last year, the company earned $1.72 EPS. sell-side analysts predict that General Motors Company will post 6.24 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Friday, December 8th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend is Thursday, December 7th. General Motors’s payout ratio is 32.90%.
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A number of brokerages have commented on GM. Vetr cut General Motors from a “buy” rating to a “hold” rating and set a $43.99 price target on the stock. in a research note on Monday. Instinet cut General Motors from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $42.90 to $43.00 in a research note on Wednesday, November 1st. Nomura cut General Motors from a “buy” rating to a “hold” rating and lifted their price target for the stock from $43.00 to $46.00 in a research note on Wednesday, November 1st. Jefferies Group LLC boosted their target price on General Motors from $36.00 to $40.00 and gave the company a “hold” rating in a research note on Monday, October 30th. Finally, Goldman Sachs Group, Inc. (The) cut General Motors from a “neutral” rating to a “sell” rating and reduced their target price for the company from $43.16 to $32.00 in a research note on Monday, October 30th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $43.61.
In other news, insider Alan S. Batey sold 234,274 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $38.04, for a total value of $8,911,782.96. Following the sale, the insider now directly owns 67,548 shares in the company, valued at $2,569,525.92. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Charles K. Stevens III sold 265,458 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now owns 326,510 shares in the company, valued at $14,526,429.90. The disclosure for this sale can be found here. Insiders sold a total of 971,122 shares of company stock valued at $40,627,952 over the last ninety days. Corporate insiders own 0.04% of the company’s stock.
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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