Fishman Jay A Ltd. MI lessened its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 25.2% in the 3rd quarter, Holdings Channel reports. The firm owned 31,200 shares of the auto manufacturer’s stock after selling 10,500 shares during the period. Fishman Jay A Ltd. MI’s holdings in General Motors were worth $1,169,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in GM. Next Capital Management LLC purchased a new position in General Motors in the 2nd quarter valued at approximately $25,000. Advisors Preferred LLC bought a new position in General Motors during the second quarter valued at approximately $26,000. Trust Co. of Vermont grew its holdings in General Motors by 101.2% during the second quarter. Trust Co. of Vermont now owns 666 shares of the auto manufacturer’s stock valued at $26,000 after purchasing an additional 335 shares during the last quarter. Quest Capital Management Inc. ADV acquired a new position in General Motors during the third quarter valued at approximately $26,000. Finally, Webster Bank N. A. grew its holdings in General Motors by 253.5% during the second quarter. Webster Bank N. A. now owns 700 shares of the auto manufacturer’s stock valued at $27,000 after purchasing an additional 502 shares during the last quarter. Hedge funds and other institutional investors own 77.03% of the company’s stock.
Shares of GM traded up $0.18 on Friday, hitting $38.67. The company’s stock had a trading volume of 5,816,834 shares, compared to its average volume of 8,734,329. The company has a quick ratio of 0.82, a current ratio of 0.96 and a debt-to-equity ratio of 1.43. The firm’s fifty day moving average price is $36.58 and its 200-day moving average price is $37.51. General Motors has a fifty-two week low of $31.46 and a fifty-two week high of $41.90. The firm has a market capitalization of $54.62 billion, a price-to-earnings ratio of 5.91, a P/E/G ratio of 0.73 and a beta of 1.40.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, October 29th. The auto manufacturer reported $1.72 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.54. General Motors had a return on equity of 19.78% and a net margin of 6.19%. The business had revenue of $35.50 billion during the quarter, compared to analyst estimates of $35.21 billion. During the same period in the previous year, the firm earned $1.87 EPS. General Motors’s quarterly revenue was down .8% compared to the same quarter last year. As a group, equities analysts predict that General Motors will post 4.85 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be given a $0.38 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.52 annualized dividend and a dividend yield of 3.93%. General Motors’s dividend payout ratio is presently 23.24%.
In related news, EVP Matthew Tsien sold 16,933 shares of the business’s 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 completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.51% of the stock is currently owned by insiders.
Several equities analysts have commented on the company. Morgan Stanley set a $46.00 price target on General Motors and gave the company a “buy” rating in a report on Tuesday, September 17th. Buckingham Research decreased their target price on General Motors from $35.00 to $32.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. Evercore ISI set a $50.00 target price on General Motors and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Nomura set a $38.00 target price on General Motors and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Finally, UBS Group boosted their target price on General Motors from $46.00 to $47.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $47.00.
General Motors Company Profile
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.
Further Reading: Diluted Earnings Per Share
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