Range Financial Group LLC Takes Position in General Motors (NYSE:GM)

Range Financial Group LLC bought a new stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 31,337 shares of the auto manufacturer’s stock, valued at approximately $1,669,000.

Other hedge funds have also bought and sold shares of the company. Chicago Partners Investment Group LLC raised its holdings in General Motors by 15.9% in the third quarter. Chicago Partners Investment Group LLC now owns 11,382 shares of the auto manufacturer’s stock worth $510,000 after buying an additional 1,559 shares during the last quarter. Donald Smith & CO. Inc. raised its holdings in shares of General Motors by 12.1% during the third 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 during the last quarter. Foster & Motley Inc. raised its holdings in shares of General Motors by 121.5% during the third 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 during the last quarter. Stoneridge Investment Partners LLC raised its holdings in shares of General Motors by 115.1% during the third quarter. Stoneridge Investment Partners LLC now owns 178,443 shares of the auto manufacturer’s stock valued at $8,001,000 after purchasing an additional 95,484 shares during the last quarter. Finally, Olstein Capital Management L.P. raised its holdings in shares of 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 purchasing an additional 21,000 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

Insider Activity

In other General Motors news, EVP Rory Harvey sold 9,307 shares of the 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 transaction, the executive vice president now directly owns 8,513 shares in the company, valued at $459,787.13. This represents a 52.23 % decrease in their position. 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 firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the completion of the sale, the president now owns 126,907 shares in the company, valued at $7,000,190.12. This represents a 49.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,030,475 shares of company stock valued at $56,509,286. 0.72% of the stock is currently owned by company insiders.

General Motors Price Performance

GM stock traded down $1.53 during trading on Tuesday, hitting $52.00. 9,056,922 shares of the company’s stock traded hands, compared to its average volume of 9,398,650. General Motors has a 52 week low of $34.32 and a 52 week high of $61.24. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. The business has a fifty day simple moving average of $53.95 and a 200 day simple moving average of $49.39. The stock has a market capitalization of $57.18 billion, a price-to-earnings ratio of 5.54, a P/E/G ratio of 0.40 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, beating 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 business had revenue of $48.76 billion during the quarter, compared to analyst estimates of $44.67 billion. During the same quarter last year, the business earned $2.28 earnings per share. General Motors’s quarterly revenue was up 10.5% compared to the same quarter last year. As a group, research analysts expect 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 was paid on Thursday, December 19th. Stockholders of record on Friday, December 6th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.92%. The ex-dividend date was Friday, December 6th. General Motors’s dividend payout ratio is currently 5.12%.

Analysts Set New Price Targets

GM has been the subject of several research reports. Wells Fargo & Company decreased their price objective on shares of General Motors from $38.00 to $35.00 and set an “underweight” rating for the company in a report on Monday, December 16th. Royal Bank of Canada boosted their price objective on shares of General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. UBS Group upped their target price on shares of General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Wedbush upped their target price on shares of General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Finally, HSBC cut shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price for the company. in a report on Wednesday, December 11th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $59.58.

General Motors 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.