Obermeyer Wood Investment Counsel Lllp decreased its position in General Motors Co. (NYSE:GM) (TSE:GMM.U) by 8.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,000 shares of the auto manufacturer’s stock after selling 916 shares during the period. Obermeyer Wood Investment Counsel Lllp’s holdings in General Motors were worth $318,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in GM. Janus Capital Management LLC raised its position in shares of General Motors by 38.3% in the second quarter. Janus Capital Management LLC now owns 21,555,499 shares of the auto manufacturer’s stock worth $610,020,000 after buying an additional 5,969,449 shares during the period. Emerald Acquisition Ltd. bought a new position in shares of General Motors during the second quarter worth $129,483,000. Artemis Investment Management LLP raised its position in shares of General Motors by 126.9% in the second quarter. Artemis Investment Management LLP now owns 6,464,090 shares of the auto manufacturer’s stock worth $182,903,000 after buying an additional 3,615,099 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in shares of General Motors by 121.2% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,324,700 shares of the auto manufacturer’s stock worth $150,689,000 after buying an additional 2,917,100 shares during the period. Finally, Societe Generale bought a new position in shares of General Motors during the second quarter worth $44,507,000. Hedge funds and other institutional investors own 71.41% of the company’s stock.
Shares of General Motors Co. (NYSE:GM) opened at 33.86 on Friday. The firm has a market capitalization of $51.61 billion, a price-to-earnings ratio of 3.87 and a beta of 1.42. General Motors Co. has a 52 week low of $26.69 and a 52 week high of $36.88. The stock has a 50 day moving average of $32.20 and a 200-day moving average of $31.14.
General Motors (NYSE:GM) last announced its quarterly earnings data on Tuesday, October 25th. The auto manufacturer reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.28. General Motors had a net margin of 8.58% and a return on equity of 23.22%. The company earned $42.80 billion during the quarter, compared to analysts’ expectations of $39.11 billion. During the same quarter in the prior year, the company posted $1.50 EPS. The business’s revenue was up 10.3% on a year-over-year basis. Analysts expect that General Motors Co. will post $6.01 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 22nd. Stockholders of record on Wednesday, December 7th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date is Monday, December 5th. General Motors’s dividend payout ratio is 17.41%.
Several research firms recently weighed in on GM. Citigroup Inc. restated an “overweight” rating on shares of General Motors in a report on Friday, October 21st. Nomura set a $33.00 target price on shares of General Motors and gave the company a “hold” rating in a report on Thursday, October 27th. Vetr lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $32.84 target price on the stock. in a report on Monday, November 7th. restated a “strong-buy” rating on shares of General Motors in a report on Thursday, November 10th. Finally, Seaport Global Securities began coverage on shares of General Motors in a report on Tuesday, August 9th. They set a “buy” rating and a $42.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $36.06.
About General Motors
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company provides automotive financing services through General Motors Financial Company, Inc (GM Financial). The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and GM Financial.