Today, Bank of New York Mellon Corp invests in General Motors Co. (GM) Shares

Today, Bank of New York Mellon Corp invests in General Motors Co. (GM) Shares
Bank of New York Mellon Corp increased its position in shares of General Motors Co. (NYSE:GM) (TSE:GMM.U) by 2.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,008,573 shares of the auto manufacturer’s stock after buying an additional 273,428 shares during the period. Bank of New York Mellon Corp owned approximately 0.85% of General Motors worth $413,283,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bank of Hawaii boosted its stake in General Motors by 0.4% in the third quarter. Bank of Hawaii now owns 9,321 shares of the auto manufacturer’s stock worth $296,000 after buying an additional 40 shares during the last quarter. WFG Advisors LP boosted its stake in General Motors by 0.5% in the second quarter. WFG Advisors LP now owns 9,031 shares of the auto manufacturer’s stock worth $256,000 after buying an additional 48 shares during the last quarter. Conning Inc. boosted its stake in General Motors by 0.3% in the third quarter. Conning Inc. now owns 34,310 shares of the auto manufacturer’s stock worth $1,090,000 after buying an additional 90 shares during the last quarter. First Interstate Bank boosted its stake in General Motors by 0.5% in the second quarter. First Interstate Bank now owns 19,295 shares of the auto manufacturer’s stock worth $546,000 after buying an additional 100 shares during the last quarter. Finally, Westport Resources Management Inc. boosted its stake in General Motors by 0.3% in the second quarter. Westport Resources Management Inc. now owns 30,405 shares of the auto manufacturer’s stock worth $860,000 after buying an additional 100 shares during the last quarter. 71.41% of the stock is owned by institutional investors and hedge funds.

General Motors Co. (NYSE:GM) traded up 1.15% on Friday, reaching $34.25. 5,317,746 shares of the company were exchanged. General Motors Co. has a 12-month low of $26.69 and a 12-month high of $36.88. The stock has a market capitalization of $52.21 billion, a P/E ratio of 3.91 and a beta of 1.42. The company’s 50-day moving average price is $32.20 and its 200-day moving average price is $31.14.

General Motors (NYSE:GM) last posted its earnings results on Tuesday, October 25th. The auto manufacturer reported $1.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.28. General Motors had a net margin of 8.58% and a return on equity of 23.22%. The firm had revenue of $42.80 billion for the quarter, compared to analyst estimates of $39.11 billion. During the same period in the previous year, the firm posted $1.50 EPS. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. Equities research analysts anticipate that General Motors Co. will post $6.01 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 22nd. Shareholders of record on Wednesday, December 7th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date of this dividend is Monday, December 5th. General Motors’s payout ratio is 17.41%.

A number of research firms recently weighed in on GM. Vetr raised shares of General Motors from a “sell” rating to a “hold” rating and set a $33.71 target price on the stock in a research note on Thursday. Berenberg Bank began coverage on shares of General Motors in a research note on Tuesday. They set a “sell” rating and a $29.00 price objective on the stock. reaffirmed a “strong-buy” rating on shares of General Motors in a research note on Thursday, November 10th. Nomura set a $33.00 price objective on shares of General Motors and gave the stock a “hold” rating in a research note on Thursday, October 27th. Finally, Bank of America Corp. cut shares of General Motors from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $26.69 to $31.60 in a research note on Wednesday, October 26th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. General Motors currently has an average rating of “Hold” and a consensus price target of $36.06.

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