Te Ahumairangi Investment Management Ltd Boosts Stake in General Motors (NYSE:GM)

Te Ahumairangi Investment Management Ltd raised its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 6.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 100,708 shares of the auto manufacturer’s stock after purchasing an additional 6,200 shares during the quarter. Te Ahumairangi Investment Management Ltd’s holdings in General Motors were worth $4,490,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dynamic Advisor Solutions LLC grew its stake in shares of General Motors by 175.1% in the second quarter. Dynamic Advisor Solutions LLC now owns 14,518 shares of the auto manufacturer’s stock valued at $674,000 after buying an additional 9,240 shares in the last quarter. Triad Wealth Partners LLC acquired a new stake in shares of General Motors in the second quarter valued at $37,000. Blue Trust Inc. grew its stake in shares of General Motors by 178.3% in the second quarter. Blue Trust Inc. now owns 2,510 shares of the auto manufacturer’s stock valued at $114,000 after buying an additional 1,608 shares in the last quarter. Brookstone Capital Management grew its stake in shares of General Motors by 3.2% in the second quarter. Brookstone Capital Management now owns 163,350 shares of the auto manufacturer’s stock valued at $8,151,000 after buying an additional 5,029 shares in the last quarter. Finally, TCW Group Inc. grew its stake in General Motors by 49.9% during the 2nd quarter. TCW Group Inc. now owns 986,762 shares of the auto manufacturer’s stock worth $45,845,000 after purchasing an additional 328,649 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analyst Ratings Changes

GM has been the subject of several analyst reports. UBS Group boosted their target price on General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. HSBC downgraded General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective on the stock. in a report on Wednesday. Wedbush increased their price objective on General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Morgan Stanley upgraded General Motors from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $46.00 to $54.00 in a report on Tuesday. Finally, Wells Fargo & Company upped their target price on General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $58.85.

Insider Activity at General Motors

In related news, President Mark L. Reuss sold 122,283 shares of the company’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 transaction of $6,745,130.28. Following the transaction, the president now owns 126,907 shares of the company’s stock, valued at approximately $7,000,190.12. This represents a 49.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the sale, the chief executive officer now owns 694,548 shares in the company, valued at approximately $37,040,244.84. This trade represents a 42.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,030,475 shares of company stock valued at $56,509,286 in the last ninety days. Corporate insiders own 0.72% of the company’s stock.

General Motors Stock Performance

Shares of GM stock opened at $52.03 on Thursday. The company has a market cap of $57.21 billion, a price-to-earnings ratio of 5.55, a price-to-earnings-growth ratio of 0.40 and a beta of 1.42. The stock has a 50 day simple moving average of $52.72 and a 200-day simple moving average of $48.56. General Motors has a 12-month low of $32.83 and a 12-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 released 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 firm had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. During the same period last year, the business posted $2.28 EPS. General Motors’s quarterly revenue was up 10.5% on a year-over-year basis. On average, equities analysts forecast that General Motors will post 10.35 EPS for the current year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s payout ratio is currently 5.12%.

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.