Algert Global LLC Makes New Investment in General Motors (NYSE:GM)

Algert Global LLC bought a new stake in General Motors (NYSE:GM) (TSE:GMM.U) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 92,194 shares of the auto manufacturer’s stock, valued at approximately $4,134,000.

Other hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in General Motors by 1.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 12,951,561 shares of the auto manufacturer’s stock worth $601,730,000 after acquiring an additional 135,717 shares during the period. Dimensional Fund Advisors LP increased its stake in General Motors by 9.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock valued at $600,291,000 after buying an additional 1,091,137 shares during the period. Diamond Hill Capital Management Inc. raised its position in General Motors by 3.9% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 11,113,063 shares of the auto manufacturer’s stock worth $498,310,000 after buying an additional 421,989 shares during the last quarter. LSV Asset Management lifted its stake in shares of General Motors by 2.6% in the 2nd quarter. LSV Asset Management now owns 8,847,440 shares of the auto manufacturer’s stock worth $411,052,000 after acquiring an additional 223,260 shares during the period. Finally, Swedbank AB acquired a new position in shares of General Motors during the first quarter worth about $159,750,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insider Activity at General Motors

In other General Motors news, EVP Craig B. Glidden sold 383,142 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the completion of the sale, the executive vice president now owns 122,465 shares of the company’s stock, valued at approximately $6,935,192.95. The trade was a 75.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Mark L. Reuss sold 122,283 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total value of $6,745,130.28. Following the completion of the transaction, the president now owns 126,907 shares in the company, valued at approximately $7,000,190.12. This trade represents a 49.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,021,556 shares of company stock worth $55,974,057. 0.72% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on GM. UBS Group raised their price objective on shares of General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Wedbush upped their price objective on General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Royal Bank of Canada increased their price objective on General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Nomura Securities upgraded shares of General Motors to a “strong sell” rating in a research report on Monday, August 5th. Finally, Wells Fargo & Company increased their price target on shares of General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a report on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $56.92.

General Motors Stock Up 5.1 %

Shares of NYSE GM opened at $58.53 on Monday. The firm has a market cap of $64.36 billion, a P/E ratio of 6.24, a price-to-earnings-growth ratio of 0.42 and a beta of 1.40. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. General Motors has a 1 year low of $27.93 and a 1 year high of $59.39. The firm’s 50 day moving average price is $50.74 and its 200 day moving average price is $47.71.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.47. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The business had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. During the same quarter in the previous year, the business earned $2.28 earnings per share. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. As a group, sell-side analysts anticipate that General Motors will post 10.35 earnings per share for the current year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be given a $0.12 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.48 annualized dividend and a dividend yield of 0.82%. General Motors’s dividend payout ratio is presently 5.12%.

General Motors Profile

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.