Hotchkis & Wiley Capital Management LLC Purchases 989,750 Shares of General Motors (NYSE:GM)

Hotchkis & Wiley Capital Management LLC grew its position in General Motors (NYSE:GM) (TSE:GMM.U) by 6.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 17,278,448 shares of the auto manufacturer’s stock after acquiring an additional 989,750 shares during the period. General Motors comprises approximately 2.6% of Hotchkis & Wiley Capital Management LLC’s portfolio, making the stock its 4th largest position. Hotchkis & Wiley Capital Management LLC’s holdings in General Motors were worth $774,766,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GM. Cinctive Capital Management LP increased its position in shares of General Motors by 1,325.3% during the third quarter. Cinctive Capital Management LP now owns 180,718 shares of the auto manufacturer’s stock valued at $8,103,000 after buying an additional 168,039 shares during the period. Coastwise Capital Group LLC lifted its holdings in shares of General Motors by 18.9% in the 3rd quarter. Coastwise Capital Group LLC now owns 15,007 shares of the auto manufacturer’s stock worth $673,000 after acquiring an additional 2,382 shares during the last quarter. Ascent Group LLC acquired a new position in General Motors during the 3rd quarter valued at about $1,422,000. Benjamin Edwards Inc. lifted its stake in General Motors by 138.6% in the 3rd quarter. Benjamin Edwards Inc. now owns 13,722 shares of the auto manufacturer’s stock valued at $615,000 after buying an additional 7,970 shares in the last quarter. Finally, Point72 Hong Kong Ltd raised its stake in shares of General Motors by 15,451.7% during the third quarter. Point72 Hong Kong Ltd now owns 197,351 shares of the auto manufacturer’s stock worth $8,849,000 after purchasing an additional 196,082 shares during the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at General Motors

In related news, EVP Rory Harvey sold 9,307 shares of General Motors stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at approximately $459,787.13. This trade represents a 52.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Mary T. Barra sold 506,824 shares of the 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 transaction, the chief executive officer now directly owns 694,548 shares in the company, valued at approximately $37,040,244.84. This represents a 42.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,030,475 shares of company stock worth $56,509,286 over the last three months. Corporate insiders own 0.72% of the company’s stock.

General Motors Stock Down 1.0 %

Shares of NYSE:GM opened at $55.04 on Tuesday. The firm has a 50 day simple moving average of $51.56 and a 200-day simple moving average of $48.10. The company has a market capitalization of $60.52 billion, a PE ratio of 5.87, a P/E/G ratio of 0.42 and a beta of 1.42. General Motors has a twelve month low of $32.60 and a twelve month high of $61.24. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24.

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 return on equity of 16.30% and a net margin of 6.06%. The firm had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. During the same period last year, the company earned $2.28 earnings per share. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, equities analysts predict that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Dividend Announcement

The company also recently declared 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 0.87%. General Motors’s payout ratio is currently 5.12%.

Wall Street Analyst Weigh In

GM has been the topic of a number of research analyst reports. Morgan Stanley cut shares of General Motors from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $47.00 to $42.00 in a research report on Wednesday, September 25th. Nomura lowered General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target for the company. in a research report on Monday, August 5th. UBS Group raised their price target on General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. DZ Bank downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target on the stock. in a research note on Friday, October 11th. Finally, Wedbush boosted their price target on General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $56.92.

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.