BTC Capital Management Inc. increased its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 2.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 58,148 shares of the auto manufacturer’s stock after purchasing an additional 1,561 shares during the quarter. BTC Capital Management Inc.’s holdings in General Motors were worth $2,177,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of GM. Next Capital Management LLC bought a new position in shares of General Motors in the second quarter valued at approximately $25,000. Advisors Preferred LLC bought a new position in shares of General Motors in the second quarter valued at approximately $26,000. Trust Co. of Vermont raised its position in shares of General Motors by 101.2% in 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 period. Webster Bank N. A. raised its position in shares of General Motors by 253.5% in 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 period. Finally, Massey Quick Simon & CO. LLC bought a new position in shares of General Motors in the third quarter valued at approximately $26,000. Institutional investors and hedge funds own 77.03% of the company’s stock.
In other news, EVP Matthew Tsien sold 83,067 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $39.50, for a total value of $3,281,146.50. Following the sale, the executive vice president now owns 84,667 shares in the company, valued at approximately $3,344,346.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.51% of the stock is currently owned by insiders.
General Motors stock 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 firm has a market cap of $54.62 billion, a P/E ratio of 5.91, a price-to-earnings-growth ratio of 0.73 and a beta of 1.40. 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 company has a fifty day moving average price of $36.58 and a 200-day moving average price of $37.51. General Motors has a one year low of $31.46 and a one year high of $41.90.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results 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 net margin of 6.19% and a return on equity of 19.78%. The firm had revenue of $35.50 billion for the quarter, compared to analyst estimates of $35.21 billion. During the same quarter in the previous year, the firm posted $1.87 EPS. The business’s revenue for the quarter was down .8% on a year-over-year basis. Analysts anticipate that General Motors will post 4.85 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be paid a $0.38 dividend. The ex-dividend date 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%.
A number of research firms have recently commented on GM. Evercore ISI set a $50.00 price target on shares of General Motors and gave the company a “buy” rating in a research report on Wednesday, August 7th. Bank of America set a $55.00 price target on shares of General Motors and gave the company a “buy” rating in a research report on Tuesday, October 15th. Royal Bank of Canada boosted their target price on shares of General Motors to $52.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. They noted that the move was a valuation call. Nomura set a $38.00 target price on shares of General Motors and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Finally, Morgan Stanley set a $46.00 target price on shares of General Motors and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $47.00.
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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