Banco Santander S.A. Buys 40,631 Shares of General Motors (NYSE:GM)

Banco Santander S.A. increased its position in General Motors (NYSE:GM) (TSE:GMM.U) by 12.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 374,524 shares of the auto manufacturer’s stock after buying an additional 40,631 shares during the period. Banco Santander S.A.’s holdings in General Motors were worth $16,794,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in GM. Bank of New York Mellon Corp raised its position in General Motors by 1.1% during the second quarter. Bank of New York Mellon Corp now owns 12,951,561 shares of the auto manufacturer’s stock valued at $601,730,000 after purchasing an additional 135,717 shares during the period. Dimensional Fund Advisors LP lifted its stake in General Motors by 9.2% in the second quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock worth $600,291,000 after purchasing an additional 1,091,137 shares during the last quarter. Diamond Hill Capital Management Inc. grew its stake in shares of General Motors by 3.9% during the third quarter. Diamond Hill Capital Management Inc. now owns 11,113,063 shares of the auto manufacturer’s stock valued at $498,310,000 after buying an additional 421,989 shares during the last quarter. LSV Asset Management lifted its stake in shares of General Motors by 2.6% during the 2nd quarter. LSV Asset Management now owns 8,847,440 shares of the auto manufacturer’s stock worth $411,052,000 after acquiring an additional 223,260 shares during the last quarter. Finally, Swedbank AB purchased a new stake in General Motors in the first quarter worth $159,750,000. Institutional investors own 92.67% of the company’s stock.

General Motors Price Performance

NYSE:GM opened at $54.93 on Thursday. 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 $27.83 and a 52 week high of $59.39. The stock’s 50-day moving average price is $50.31 and its 200-day moving average price is $47.53. The stock has a market capitalization of $60.40 billion, a PE ratio of 5.85, a price-to-earnings-growth ratio of 0.42 and a beta of 1.40.

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

General Motors Announces Dividend

The firm 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. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio (DPR) is 5.12%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GM. Morgan Stanley cut shares of General Motors from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $47.00 to $42.00 in a research report on Wednesday, September 25th. JPMorgan Chase & Co. lifted their price objective on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Wolfe Research started coverage on shares of General Motors in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. The Goldman Sachs Group raised their price objective on General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Finally, Nomura Securities upgraded shares of General Motors to a “strong sell” rating in a research note on Monday, August 5th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $56.92.

Insiders Place Their Bets

In related news, President Mark L. Reuss sold 122,283 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total value of $6,745,130.28. Following the sale, the president now owns 126,907 shares of the company’s stock, valued at $7,000,190.12. This trade represents a 49.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Craig B. Glidden sold 383,142 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $56.63, for a total value of $21,697,331.46. Following the sale, the executive vice president now owns 122,465 shares of the company’s stock, 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 have sold 1,036,653 shares of company stock valued at $56,710,175 in the last ninety days. 0.72% of the stock is currently 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.