General Motors Company (GM) Shares Sold by Pekin Singer Strauss Asset Management IL
Pekin Singer Strauss Asset Management IL lowered its position in General Motors Company (NYSE:GM) (TSE:GMM.U) by 89.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,668 shares of the auto manufacturer’s stock after selling 59,258 shares during the quarter. Pekin Singer Strauss Asset Management IL’s holdings in General Motors were worth $269,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of GM. United Capital Financial Advisers LLC grew its stake in General Motors by 10.8% in the first quarter. United Capital Financial Advisers LLC now owns 380,413 shares of the auto manufacturer’s stock valued at $13,451,000 after purchasing an additional 36,973 shares in the last quarter. Amalgamated Bank grew its stake in General Motors by 6.1% in the first quarter. Amalgamated Bank now owns 98,334 shares of the auto manufacturer’s stock valued at $3,477,000 after purchasing an additional 5,697 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC purchased a new position in General Motors in the first quarter valued at about $423,000. Schwab Charles Investment Management Inc. grew its stake in General Motors by 3.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 4,860,023 shares of the auto manufacturer’s stock valued at $171,851,000 after purchasing an additional 169,450 shares in the last quarter. Finally, HighVista Strategies LLC grew its stake in General Motors by 9.5% in the first quarter. HighVista Strategies LLC now owns 39,200 shares of the auto manufacturer’s stock valued at $1,386,000 after purchasing an additional 3,400 shares in the last quarter. Hedge funds and other institutional investors own 74.65% of the company’s stock.
A number of research analysts have commented on the company. Berenberg Bank set a $31.00 target price on General Motors and gave the company a “sell” rating in a research note on Monday, August 14th. Nomura downgraded General Motors from a “buy” rating to a “hold” rating and boosted their target price for the company from $43.00 to $46.00 in a research note on Wednesday, November 1st. Vetr upgraded General Motors from a “hold” rating to a “buy” rating and set a $43.99 target price on the stock in a research note on Monday. 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, Instinet downgraded General Motors from a “buy” rating to a “neutral” rating and boosted their target price for the company from $42.90 to $43.00 in a research note on Wednesday, November 1st. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $43.61.
Shares of General Motors Company (NYSE GM) traded down $0.23 on Thursday, reaching $41.88. The company had a trading volume of 4,532,041 shares, compared to its average volume of 15,040,000. General Motors Company has a 1 year low of $30.21 and a 1 year high of $46.76. The company has a quick ratio of 0.79, a current ratio of 0.94 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $59,500.00, a price-to-earnings ratio of 6.74, a price-to-earnings-growth ratio of 0.72 and a beta of 1.56.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results 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. General Motors had a return on equity of 20.95% and a net margin of 2.00%. The firm had revenue of $30.48 billion for the quarter, compared to analyst estimates of $29.93 billion. During the same period in the previous year, the company posted $1.72 earnings per share. The company’s quarterly revenue was down 16.6% compared to the same quarter last year. equities research analysts expect that General Motors Company will post 6.24 earnings per share for the current fiscal 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. The ex-dividend date is Thursday, December 7th. This represents a $1.52 annualized dividend and a dividend yield of 3.63%. General Motors’s dividend payout ratio is currently 32.90%.
In other news, CFO Charles K. Stevens III sold 265,458 shares of the company’s 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 sale, the chief financial officer now directly owns 326,510 shares in the company, valued at approximately $14,526,429.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jane L. Mendillo acquired 1,440 shares of the stock in a transaction dated Friday, August 18th. The stock was bought at an average price of $34.86 per share, for a total transaction of $50,198.40. Following the completion of the purchase, the director now owns 4,560 shares in the company, valued at approximately $158,961.60. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 979,266 shares of company stock worth $40,917,634. Corporate insiders own 0.04% of the company’s stock.
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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