General Motors (NYSE:GM) Shares Acquired by Forsta AP Fonden

Forsta AP Fonden grew its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 10.3% during the third quarter, HoldingsChannel reports. The fund owned 233,100 shares of the auto manufacturer’s stock after purchasing an additional 21,800 shares during the period. Forsta AP Fonden’s holdings in General Motors were worth $10,452,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Claro Advisors LLC lifted its position in General Motors by 17.3% in the first quarter. Claro Advisors LLC now owns 7,184 shares of the auto manufacturer’s stock valued at $326,000 after acquiring an additional 1,057 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of General Motors by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,536,428 shares of the auto manufacturer’s stock valued at $69,677,000 after purchasing an additional 129,128 shares during the last quarter. MV Capital Management Inc. boosted its position in shares of General Motors by 35.3% in the 1st quarter. MV Capital Management Inc. now owns 1,101 shares of the auto manufacturer’s stock valued at $50,000 after purchasing an additional 287 shares during the period. Quattro Financial Advisors LLC grew its stake in General Motors by 49,900.0% during the 1st quarter. Quattro Financial Advisors LLC now owns 18,000 shares of the auto manufacturer’s stock worth $816,000 after buying an additional 17,964 shares during the last quarter. Finally, Denali Advisors LLC increased its position in General Motors by 6.5% during the first quarter. Denali Advisors LLC now owns 18,100 shares of the auto manufacturer’s stock worth $821,000 after buying an additional 1,100 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Price Performance

Shares of NYSE GM opened at $52.07 on Monday. The company’s fifty day moving average is $47.81 and its two-hundred day moving average is $46.21. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.21. The firm has a market capitalization of $58.52 billion, a P/E ratio of 5.55, a PEG ratio of 0.60 and a beta of 1.42. General Motors has a one year low of $26.30 and a one year high of $54.29.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The company had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. During the same period in the prior year, the business posted $2.28 earnings per share. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. Analysts forecast that General Motors will post 10.05 EPS for the current fiscal year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 annualized dividend and a yield of 0.92%. General Motors’s dividend payout ratio is presently 5.12%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GM shares. Morgan Stanley downgraded General Motors from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $47.00 to $42.00 in a report on Wednesday, September 25th. 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. Wedbush raised their price objective on shares of General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Nomura Securities raised shares of General Motors to a “strong sell” rating in a report on Monday, August 5th. Finally, The Goldman Sachs Group increased their target price on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $56.92.

Insiders Place Their Bets

In other news, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the transaction, the chief executive officer now owns 694,548 shares in the company, valued at $37,040,244.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Mary T. Barra sold 506,824 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total value of $27,028,923.92. Following the sale, the chief executive officer now directly owns 694,548 shares in the company, valued at $37,040,244.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Rory Harvey sold 9,307 shares of General Motors stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $54.01, for a total value of $502,671.07. Following the transaction, the executive vice president now owns 8,513 shares of the company’s stock, valued at $459,787.13. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 531,228 shares of company stock worth $28,267,714. 0.72% of the stock is owned by corporate 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.