Algert Global LLC Takes Position in General Motors (NYSE:GM)

Algert Global LLC purchased a new position in General Motors (NYSE:GM) (TSE:GMM.U) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 92,194 shares of the auto manufacturer’s stock, valued at approximately $4,134,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Kingsview Wealth Management LLC raised its stake in General Motors by 9.7% in the third quarter. Kingsview Wealth Management LLC now owns 16,628 shares of the auto manufacturer’s stock worth $746,000 after buying an additional 1,471 shares in the last quarter. Cerity Partners LLC boosted its position in General Motors by 39.4% during the third quarter. Cerity Partners LLC now owns 429,295 shares of the auto manufacturer’s stock valued at $19,250,000 after purchasing an additional 121,343 shares in the last quarter. Great Valley Advisor Group Inc. grew its stake in General Motors by 12.2% in the third quarter. Great Valley Advisor Group Inc. now owns 17,269 shares of the auto manufacturer’s stock valued at $774,000 after purchasing an additional 1,881 shares during the last quarter. Nwam LLC bought a new position in General Motors in the third quarter worth about $247,000. Finally, Banco Santander S.A. lifted its position in shares of General Motors by 12.2% during the third quarter. Banco Santander S.A. now owns 374,524 shares of the auto manufacturer’s stock valued at $16,794,000 after buying an additional 40,631 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

General Motors Stock Performance

NYSE GM opened at $58.53 on Monday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. The stock’s 50 day simple moving average is $50.74 and its 200-day simple moving average is $47.71. The company has a market cap of $64.36 billion, a PE ratio of 6.24, a price-to-earnings-growth ratio of 0.42 and a beta of 1.40. General Motors has a 1-year low of $27.93 and a 1-year high of $59.39.

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. The business had revenue of $48.76 billion for the quarter, compared to analysts’ expectations of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.28 EPS. As a group, equities research analysts anticipate that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 annualized dividend and a yield of 0.82%. General Motors’s payout ratio is 5.12%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GM. DZ Bank cut shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price for the company. in a research report on Friday, October 11th. Wells Fargo & Company boosted their target price on General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $53.00 price target on shares of General Motors in a report on Tuesday, September 10th. Sanford C. Bernstein upped their price objective on shares of General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Friday, October 25th. Finally, UBS Group upped their price target on shares of General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, General Motors currently has a consensus rating of “Hold” and an average price target of $56.92.

Insider Activity

In other General Motors news, EVP Rory Harvey sold 9,307 shares of General Motors stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total transaction of $502,671.07. Following the completion of the sale, the executive vice president now directly owns 8,513 shares in the company, valued at $459,787.13. This trade represents a 52.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Mark L. Reuss sold 122,283 shares of the business’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 completion of the sale, the president now directly owns 126,907 shares in the company, valued at approximately $7,000,190.12. The trade was a 49.07 % 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 valued at $55,974,057 in the last 90 days. Company insiders own 0.72% of the company’s stock.

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.