Pacer Advisors Inc. Buys 2,027 Shares of General Motors Company (GM)
Pacer Advisors Inc. lifted its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) by 4.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 45,990 shares of the auto manufacturer’s stock after purchasing an additional 2,027 shares during the quarter. Pacer Advisors Inc.’s holdings in General Motors were worth $1,857,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Berkshire Hathaway Inc. increased its holdings in shares of General Motors by 20.0% in the second quarter. Berkshire Hathaway Inc. now owns 60,000,000 shares of the auto manufacturer’s stock valued at $2,095,800,000 after purchasing an additional 10,000,000 shares during the last quarter. Swiss National Bank increased its holdings in shares of General Motors by 1.2% in the second quarter. Swiss National Bank now owns 4,925,857 shares of the auto manufacturer’s stock valued at $172,060,000 after purchasing an additional 56,500 shares during the last quarter. State of Tennessee Treasury Department increased its holdings in shares of General Motors by 0.4% in the second quarter. State of Tennessee Treasury Department now owns 825,599 shares of the auto manufacturer’s stock valued at $28,839,000 after purchasing an additional 3,298 shares during the last quarter. Intrust Bank NA increased its holdings in shares of General Motors by 0.3% in the second quarter. Intrust Bank NA now owns 7,174 shares of the auto manufacturer’s stock valued at $250,000 after purchasing an additional 25 shares during the last quarter. Finally, Commonwealth Bank of Australia increased its holdings in shares of General Motors by 12.5% in the second quarter. Commonwealth Bank of Australia now owns 739,220 shares of the auto manufacturer’s stock valued at $25,819,000 after purchasing an additional 82,201 shares during the last quarter. 73.50% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently weighed in on GM shares. Piper Jaffray Companies reiterated a “buy” rating and issued a $44.00 price objective on shares of General Motors in a research report on Tuesday, September 12th. BidaskClub lowered General Motors from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Vetr upgraded General Motors from a “hold” rating to a “buy” rating and set a $37.42 price objective for the company in a research report on Monday, July 24th. Deutsche Bank AG upgraded General Motors from a “hold” rating to a “buy” rating and increased their price objective for the stock from $36.00 to $51.00 in a research report on Monday, September 25th. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $53.00 price objective on shares of General Motors in a research report on Monday, October 2nd. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $43.61.
General Motors Company (NYSE GM) traded up $1.13 on Monday, hitting $45.01. The stock had a trading volume of 7,007,337 shares, compared to its average volume of 13,413,179. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.94 and a quick ratio of 0.79. General Motors Company has a twelve month low of $31.92 and a twelve month high of $46.76. The firm has a market capitalization of $62,330.00, a PE ratio of 7.09, a P/E/G ratio of 0.76 and a beta of 1.56.
General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, October 24th. The auto manufacturer reported $1.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.25. General Motors had a return on equity of 20.95% and a net margin of 2.00%. The firm had revenue of $30.48 billion for the quarter, compared to analyst estimates of $29.93 billion. During the same quarter last year, the company posted $1.72 earnings per share. The business’s revenue was down 16.6% on a year-over-year basis. equities research analysts forecast that General Motors Company will post 6.24 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Friday, December 8th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend is Thursday, December 7th. General Motors’s dividend payout ratio is currently 32.90%.
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In related news, CAO Thomas S. Timko sold 44,791 shares of the firm’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $44.46, for a total transaction of $1,991,407.86. Following the transaction, the chief accounting officer now owns 66,838 shares of the company’s stock, valued at $2,971,617.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Nysschen Carel J. De sold 123,645 shares of the firm’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $44.59, for a total value of $5,513,330.55. Following the transaction, the executive vice president now directly owns 150,484 shares in the company, valued at approximately $6,710,081.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 971,122 shares of company stock worth $40,627,952. Corporate insiders own 0.04% of the company’s stock.
General Motors Profile
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
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