KG&L Capital Management LLC increased its position in General Motors (NYSE:GM) (TSE:GMM.U) by 32.3% in the third quarter, HoldingsChannel.com reports. The fund owned 7,460 shares of the auto manufacturer’s stock after buying an additional 1,820 shares during the period. KG&L Capital Management LLC’s holdings in General Motors were worth $279,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of the stock. Neuberger Berman Group LLC increased its position in shares of General Motors by 14.4% during the 1st quarter. Neuberger Berman Group LLC now owns 1,463,179 shares of the auto manufacturer’s stock valued at $54,284,000 after purchasing an additional 183,724 shares during the last quarter. Westwood Holdings Group Inc. increased its position in shares of General Motors by 39.7% during the 1st quarter. Westwood Holdings Group Inc. now owns 28,405 shares of the auto manufacturer’s stock valued at $1,054,000 after purchasing an additional 8,065 shares during the last quarter. Advisory Alpha LLC bought a new position in shares of General Motors during the 1st quarter valued at about $42,000. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of General Motors by 44.0% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 37,977 shares of the auto manufacturer’s stock valued at $1,409,000 after purchasing an additional 11,600 shares during the last quarter. Finally, Andra AP fonden bought a new position in shares of General Motors during the 1st quarter valued at about $5,313,000. Institutional investors own 76.79% of the company’s stock.
GM has been the topic of several recent research reports. Nomura set a $38.00 price objective on General Motors and gave the company a “hold” rating in a research report on Wednesday, August 7th. Royal Bank of Canada increased their price objective on General Motors to $52.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. They noted that the move was a valuation call. Buckingham Research set a $35.00 price objective on General Motors and gave the company a “hold” rating in a research report on Monday, September 23rd. ValuEngine lowered General Motors from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. Finally, Citigroup increased their price objective on General Motors from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $46.62.
In other news, EVP Matthew Tsien sold 16,933 shares of General Motors stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $39.50, for a total value of $668,853.50. Following the sale, the executive vice president now directly owns 18,533 shares in the company, valued at approximately $732,053.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Mark L. Reuss sold 275,944 shares of General Motors stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $40.03, for a total value of $11,046,038.32. Following the completion of the sale, the president now owns 479,413 shares in the company, valued at $19,190,902.39. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 375,944 shares of company stock worth $14,996,038. 0.51% of the stock is owned by corporate insiders.
GM traded up $0.90 on Friday, hitting $35.56. 811,871 shares of the company were exchanged, compared to its average volume of 9,451,332. The firm has a fifty day simple moving average of $37.03 and a two-hundred day simple moving average of $37.74. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.83 and a current ratio of 0.96. General Motors has a 12 month low of $30.56 and a 12 month high of $41.90. The stock has a market capitalization of $48.37 billion, a PE ratio of 5.44, a price-to-earnings-growth ratio of 0.47 and a beta of 1.40.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Thursday, August 1st. The auto manufacturer reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.21. General Motors had a return on equity of 21.08% and a net margin of 6.31%. The business had revenue of $36.06 billion for the quarter, compared to analyst estimates of $36.03 billion. During the same period last year, the company earned $1.81 EPS. General Motors’s revenue for the quarter was down 1.9% compared to the same quarter last year. On average, equities analysts expect that General Motors will post 6.69 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were given a dividend of $0.38 per share. The ex-dividend date was Thursday, September 5th. This represents a $1.52 annualized dividend and a yield of 4.27%. General Motors’s payout ratio is 23.24%.
About General Motors
General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
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