Palladium Partners LLC Has $407,000 Position in General Motors Company (GM)
Palladium Partners LLC reduced its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) by 19.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 10,085 shares of the auto manufacturer’s stock after selling 2,460 shares during the quarter. Palladium Partners LLC’s holdings in General Motors were worth $407,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Berkshire Hathaway Inc. increased its position in General Motors by 20.0% in the 2nd quarter. Berkshire Hathaway Inc. now owns 60,000,000 shares of the auto manufacturer’s stock worth $2,095,800,000 after buying an additional 10,000,000 shares during the period. Swiss National Bank increased its position in General Motors by 1.2% in the 2nd quarter. Swiss National Bank now owns 4,925,857 shares of the auto manufacturer’s stock worth $172,060,000 after buying an additional 56,500 shares during the period. State of Tennessee Treasury Department increased its position in General Motors by 0.4% in the 2nd quarter. State of Tennessee Treasury Department now owns 825,599 shares of the auto manufacturer’s stock worth $28,839,000 after buying an additional 3,298 shares during the period. Intrust Bank NA increased its position 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 buying an additional 25 shares during the period. Finally, Commonwealth Bank of Australia increased its position 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 buying an additional 82,201 shares during the period. Hedge funds and other institutional investors own 74.51% of the company’s stock.
A number of analysts have recently issued reports on the company. Deutsche Bank AG boosted their price objective on General Motors from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. 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 report on Monday. Royal Bank Of Canada upped their price target on General Motors from $44.00 to $51.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 25th. Piper Jaffray Companies reiterated a “buy” rating and issued a $44.00 price target on shares of General Motors in a research report on Tuesday, September 12th. Finally, UBS AG reiterated a “buy” rating and issued a $50.00 price target (up from $39.00) on shares of General Motors in a research report on Wednesday, October 11th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $43.61.
General Motors Company (GM) traded up $0.74 during trading hours on Friday, hitting $43.60. The company had a trading volume of 11,247,300 shares, compared to its average volume of 13,425,877. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.79 and a current ratio of 0.94. The company has a market capitalization of $62,550.00, a P/E ratio of 6.92, a PEG ratio of 0.74 and a beta of 1.56. General Motors Company has a fifty-two week low of $31.92 and a fifty-two week high of $46.76.
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, topping the Zacks’ consensus estimate of $1.07 by $0.25. The business had revenue of $30.48 billion during the quarter, compared to the consensus estimate of $29.93 billion. General Motors had a return on equity of 20.95% and a net margin of 2.00%. General Motors’s quarterly revenue was down 16.6% on a year-over-year basis. During the same period last year, the company earned $1.72 earnings per share. research analysts anticipate that General Motors Company will post 6.24 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Friday, December 8th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $1.52 annualized dividend and a yield of 3.49%. General Motors’s dividend payout ratio (DPR) is presently 32.90%.
In related 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 transaction of $8,911,782.96. Following the completion of the transaction, the insider now directly owns 67,548 shares of the company’s stock, valued at $2,569,525.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Daniel Ammann sold 50,000 shares of the stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $38.00, for a total value of $1,900,000.00. Following the transaction, the president now directly owns 185,953 shares of the company’s stock, valued at $7,066,214. The disclosure for this sale can be found here. Insiders have sold 971,122 shares of company stock valued at $40,627,952 over the last three months. Insiders own 0.04% of the company’s stock.
General Motors Company 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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