Range Financial Group LLC Takes Position in General Motors (NYSE:GM)

Range Financial Group LLC bought a new stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) in the 4th quarter, HoldingsChannel.com reports. The fund bought 31,337 shares of the auto manufacturer’s stock, valued at approximately $1,669,000.

Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in General Motors by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 23,620,533 shares of the auto manufacturer’s stock valued at $1,055,395,000 after acquiring an additional 106,878 shares during the period. Hotchkis & Wiley Capital Management LLC grew its stake in General Motors by 6.1% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer’s stock valued at $774,766,000 after acquiring an additional 989,750 shares during the period. Dimensional Fund Advisors LP grew its stake in General Motors by 9.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock valued at $600,291,000 after acquiring an additional 1,091,137 shares during the period. Diamond Hill Capital Management Inc. grew its stake in General Motors by 3.9% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 11,113,063 shares of the auto manufacturer’s stock valued at $498,310,000 after acquiring an additional 421,989 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its stake in General Motors by 6.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 5,798,131 shares of the auto manufacturer’s stock valued at $259,988,000 after acquiring an additional 358,507 shares during the period. 92.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group lifted their target price on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Wells Fargo & Company decreased their target price on shares of General Motors from $38.00 to $35.00 and set an “underweight” rating on the stock in a research note on Monday, December 16th. Barclays upped their price target on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Hsbc Global Res lowered General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $53.00 target price on shares of General Motors in a research note on Tuesday, September 10th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, General Motors presently has an average rating of “Hold” and an average target price of $59.58.

General Motors Trading Down 2.9 %

Shares of NYSE GM traded down $1.53 during trading on Tuesday, reaching $52.00. The stock had a trading volume of 9,056,922 shares, compared to its average volume of 9,398,650. General Motors has a fifty-two week low of $34.32 and a fifty-two week high of $61.24. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. The business’s 50-day moving average price is $53.95 and its 200-day moving average price is $49.39. The company has a market cap of $57.18 billion, a P/E ratio of 5.54, a PEG ratio of 0.40 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.47. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The business had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. During the same period in the previous year, the firm posted $2.28 earnings per share. The company’s revenue was up 10.5% on a year-over-year basis. On average, equities research analysts predict that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, December 6th were paid a $0.12 dividend. The ex-dividend date was Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.92%. General Motors’s payout ratio is presently 5.12%.

Insider Buying and Selling

In related news, EVP Rory Harvey sold 8,919 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $60.01, for a total transaction of $535,229.19. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $510,865.13. The trade was a 51.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the transaction, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at $37,040,244.84. The trade was a 42.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,030,475 shares of company stock valued at $56,509,286 in the last three months. 0.72% of the stock is owned by corporate insiders.

General Motors Profile

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.