Adalta Capital Management LLC Acquires 23,325 Shares of General Motors (NYSE:GM)

Adalta Capital Management LLC raised its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 734.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,500 shares of the auto manufacturer’s stock after acquiring an additional 23,325 shares during the quarter. Adalta Capital Management LLC’s holdings in General Motors were worth $1,188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Chicago Partners Investment Group LLC grew its stake in General Motors by 15.9% during the third quarter. Chicago Partners Investment Group LLC now owns 11,382 shares of the auto manufacturer’s stock valued at $510,000 after acquiring an additional 1,559 shares in the last quarter. Donald Smith & CO. Inc. grew its position in shares of General Motors by 12.1% during the 3rd quarter. Donald Smith & CO. Inc. now owns 1,629,573 shares of the auto manufacturer’s stock valued at $73,070,000 after purchasing an additional 175,860 shares in the last quarter. Foster & Motley Inc. grew its position in shares of General Motors by 121.5% during the 3rd quarter. Foster & Motley Inc. now owns 47,169 shares of the auto manufacturer’s stock valued at $2,115,000 after purchasing an additional 25,869 shares in the last quarter. Stoneridge Investment Partners LLC raised its position in shares of General Motors by 115.1% in the third quarter. Stoneridge Investment Partners LLC now owns 178,443 shares of the auto manufacturer’s stock worth $8,001,000 after buying an additional 95,484 shares in the last quarter. Finally, Olstein Capital Management L.P. boosted its stake in General Motors by 14.9% during the third quarter. Olstein Capital Management L.P. now owns 162,000 shares of the auto manufacturer’s stock valued at $7,264,000 after buying an additional 21,000 shares during the period. 92.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein upped their price objective on shares of General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research report on Friday, October 25th. Royal Bank of Canada lifted their target price on shares of General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Morgan Stanley lowered shares of General Motors from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $47.00 to $42.00 in a report on Wednesday, September 25th. Finally, UBS Group lifted their price objective on shares of General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, General Motors presently has a consensus rating of “Hold” and an average price target of $57.74.

General Motors Price Performance

Shares of General Motors stock opened at $53.41 on Monday. The company has a market cap of $58.73 billion, a PE ratio of 5.69, a P/E/G ratio of 0.40 and a beta of 1.42. The business has a 50 day moving average of $52.26 and a 200 day moving average of $48.41. General Motors has a 52 week low of $32.81 and a 52 week high of $61.24. 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 (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, beating 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 business had revenue of $48.76 billion for the quarter, compared to analysts’ expectations of $44.67 billion. During the same period in the previous year, the firm posted $2.28 EPS. The business’s revenue was up 10.5% on a year-over-year basis. As a group, equities research analysts forecast that General Motors will post 10.35 earnings per share for the current 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 issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio (DPR) is presently 5.12%.

Insider Transactions at General Motors

In other news, 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 sale, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. This represents a 42.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Rory Harvey sold 8,919 shares of General Motors stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $60.01, for a total value of $535,229.19. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at approximately $510,865.13. This represents a 51.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,030,475 shares of company stock valued at $56,509,286 in the last three months. 0.72% of the stock is currently owned by company insiders.

About General Motors

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.