Mesirow Financial Investment Management Inc. Has $258,000 Stock Holdings in General Motors (NYSE:GM)

Mesirow Financial Investment Management Inc. reduced its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 7.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,550 shares of the auto manufacturer’s stock after selling 431 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in General Motors were worth $258,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in GM. Capital World Investors grew its stake in shares of General Motors by 14.6% in the 1st quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock valued at $2,211,609,000 after purchasing an additional 6,201,777 shares during the period. Putnam Investments LLC raised its stake in General Motors by 16.8% during the fourth quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock worth $726,942,000 after acquiring an additional 2,905,689 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of General Motors by 21.9% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock valued at $650,062,000 after acquiring an additional 3,247,050 shares during the period. Franklin Resources Inc. boosted its stake in shares of General Motors by 12.0% in the 4th quarter. Franklin Resources Inc. now owns 13,731,249 shares of the auto manufacturer’s stock valued at $493,226,000 after purchasing an additional 1,472,297 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of General Motors by 1.1% in 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 purchasing an additional 135,717 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Trading Up 1.4 %

NYSE:GM opened at $47.53 on Wednesday. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. General Motors has a 1-year low of $26.30 and a 1-year high of $50.50. The firm has a market capitalization of $54.23 billion, a price-to-earnings ratio of 5.81, a PEG ratio of 0.52 and a beta of 1.43. The business’s 50-day moving average price is $46.22 and its two-hundred day moving average price is $45.12.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.67 by $0.39. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The business had revenue of $47.97 billion for the quarter, compared to analyst estimates of $45.13 billion. During the same quarter last year, the firm earned $1.91 EPS. General Motors’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities analysts expect that General Motors will post 9.95 earnings per share for the current year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Friday, September 6th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Friday, September 6th. General Motors’s dividend payout ratio is currently 5.87%.

General Motors declared that its board has authorized a stock repurchase program on Tuesday, June 11th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the auto manufacturer to repurchase up to 10.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have commented on GM shares. StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Royal Bank of Canada dropped their price target on General Motors from $58.00 to $54.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Wolfe Research initiated coverage on General Motors in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Wedbush restated an “outperform” rating and issued a $55.00 target price on shares of General Motors in a research note on Wednesday, July 24th. Finally, UBS Group upped their price target on shares of General Motors from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $55.27.

Insider Buying and Selling

In other General Motors news, EVP Rory Harvey sold 2,302 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total value of $108,907.62. Following the completion of the sale, the executive vice president now directly owns 10,356 shares in the company, valued at $489,942.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Paul A. Jacobson acquired 25,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were acquired at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the transaction, the chief financial officer now owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Rory Harvey sold 2,302 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total value of $108,907.62. Following the transaction, the executive vice president now owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

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.