Pitcairn Co. Boosts Stake in General Motors (NYSE:GM)

Pitcairn Co. grew its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 8.3% during the third quarter, HoldingsChannel reports. The fund owned 7,359 shares of the auto manufacturer’s stock after acquiring an additional 565 shares during the quarter. Pitcairn Co.’s holdings in General Motors were worth $330,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in GM. Chicago Partners Investment Group LLC boosted its stake in General Motors by 15.9% in the third quarter. Chicago Partners Investment Group LLC now owns 11,382 shares of the auto manufacturer’s stock valued at $510,000 after acquiring an additional 1,559 shares in the last quarter. Donald Smith & CO. Inc. boosted its position in shares of General Motors by 12.1% in the 3rd quarter. Donald Smith & CO. Inc. now owns 1,629,573 shares of the auto manufacturer’s stock worth $73,070,000 after purchasing an additional 175,860 shares in the last quarter. Foster & Motley Inc. grew its stake in General Motors by 121.5% during the 3rd quarter. Foster & Motley Inc. now owns 47,169 shares of the auto manufacturer’s stock worth $2,115,000 after buying an additional 25,869 shares during the last quarter. Stoneridge Investment Partners LLC increased its position in General Motors by 115.1% during the 3rd quarter. Stoneridge Investment Partners LLC now owns 178,443 shares of the auto manufacturer’s stock valued at $8,001,000 after buying an additional 95,484 shares in the last quarter. Finally, Olstein Capital Management L.P. raised its stake in General Motors by 14.9% in the third quarter. Olstein Capital Management L.P. now owns 162,000 shares of the auto manufacturer’s stock valued at $7,264,000 after buying an additional 21,000 shares during the last quarter. 92.67% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Rory Harvey sold 9,307 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total value of $502,671.07. Following the completion of the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at $459,787.13. This represents a 52.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Craig B. Glidden sold 383,142 shares of General Motors stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the sale, the executive vice president now directly owns 122,465 shares in the company, valued at approximately $6,935,192.95. The trade was a 75.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,021,556 shares of company stock worth $55,974,057 in the last 90 days. Insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on GM shares. Wells Fargo & Company upped their price objective 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. UBS Group raised their price target on shares of General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. DZ Bank lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price objective on the stock. in a report on Friday, October 11th. Nomura lowered General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price for the company. in a research note on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $53.00 price target on shares of General Motors in a research note on Tuesday, September 10th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $56.92.

General Motors Price Performance

NYSE:GM opened at $54.79 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. General Motors has a 52 week low of $27.93 and a 52 week high of $61.24. The stock’s 50-day moving average price is $51.15 and its 200-day moving average price is $47.88. The stock has a market capitalization of $60.24 billion, a PE ratio of 5.84, a price-to-earnings-growth ratio of 0.44 and a beta of 1.40.

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

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 annualized dividend and a dividend yield of 0.88%. General Motors’s dividend payout ratio (DPR) is 5.12%.

General Motors Company 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.