General Motors (GM) Shares Bought by Parametric Portfolio Associates LLC
Parametric Portfolio Associates LLC boosted its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 2.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,225,357 shares of the auto manufacturer’s stock after purchasing an additional 114,679 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.30% of General Motors worth $170,620,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in General Motors by 4.0% during the 2nd quarter. Vanguard Group Inc. now owns 93,414,041 shares of the auto manufacturer’s stock valued at $3,262,952,000 after acquiring an additional 3,560,717 shares during the period. BlackRock Inc. lifted its stake in shares of General Motors by 1.1% in the 2nd quarter. BlackRock Inc. now owns 78,753,259 shares of the auto manufacturer’s stock valued at $2,750,849,000 after purchasing an additional 850,211 shares during the period. Berkshire Hathaway Inc. lifted its stake in shares of General Motors by 20.0% in the 2nd quarter. Berkshire Hathaway Inc. now owns 60,000,000 shares of the auto manufacturer’s stock valued at $2,095,800,000 after purchasing an additional 10,000,000 shares during the period. Capital World Investors lifted its stake in shares of General Motors by 5.0% in the 2nd quarter. Capital World Investors now owns 31,327,192 shares of the auto manufacturer’s stock valued at $1,094,259,000 after purchasing an additional 1,500,500 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of General Motors by 2.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 14,900,059 shares of the auto manufacturer’s stock valued at $601,683,000 after purchasing an additional 331,621 shares during the period. 73.06% of the stock is currently owned by institutional investors.
In other news, CAO Thomas S. Timko sold 44,791 shares of the company’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $44.46, for a total transaction of $1,991,407.86. Following the completion of the sale, the chief accounting officer now owns 66,838 shares of the company’s stock, valued at $2,971,617.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Stefan Jacoby sold 37,961 shares of the company’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $42.87, for a total transaction of $1,627,388.07. Following the sale, the executive vice president now directly owns 98,340 shares of the company’s stock, valued at approximately $4,215,835.80. The disclosure for this sale can be found here. Insiders have sold 775,252 shares of company stock valued at $33,616,642 in the last ninety days. Insiders own 0.04% of the company’s stock.
Several equities analysts recently issued reports on GM shares. Deutsche Bank reiterated a “buy” rating on shares of General Motors in a research note on Friday, November 17th. Piper Jaffray Companies reiterated a “buy” rating and issued a $44.00 target price on shares of General Motors in a research note on Tuesday, September 12th. Goldman Sachs Group cut shares of General Motors from a “neutral” rating to a “sell” rating and decreased their target price for the company from $43.16 to $32.00 in a research note on Monday, October 30th. Royal Bank of Canada boosted their target price on shares of General Motors from $44.00 to $51.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 25th. Finally, Barclays upgraded shares of General Motors from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $41.00 to $55.00 in a research note on Friday, October 13th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $43.70.
Shares of General Motors (NYSE:GM) traded down $0.59 during midday trading on Friday, reaching $40.81. 9,276,400 shares of the company traded hands, compared to its average volume of 13,436,829. The stock has a market cap of $58,804.90, a price-to-earnings ratio of 6.69, a PEG ratio of 0.72 and a beta of 1.54. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.79 and a current ratio of 0.94. General Motors has a 12 month low of $31.92 and a 12 month high of $46.76.
General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results 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. General Motors had a net margin of 2.00% and a return on equity of 20.95%. The business had revenue of $30.48 billion during the quarter, compared to analyst estimates of $29.93 billion. During the same quarter in the prior year, the firm earned $1.72 earnings per share. The company’s revenue for the quarter was down 16.6% compared to the same quarter last year. research analysts predict that General Motors will post 6.24 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Friday, December 8th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend is Thursday, December 7th. General Motors’s payout ratio is 77.95%.
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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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