Nomura Asset Management Co. Ltd. Sells 86,964 Shares of General Motors (GM)
Nomura Asset Management Co. Ltd. trimmed its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 16.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 440,139 shares of the auto manufacturer’s stock after selling 86,964 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in General Motors were worth $17,773,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in GM. Berkshire Hathaway Inc. grew its stake in General Motors by 20.0% in the 2nd quarter. Berkshire Hathaway Inc. now owns 60,000,000 shares of the auto manufacturer’s stock valued at $2,095,800,000 after buying an additional 10,000,000 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of General Motors by 290.9% during the 2nd quarter. Janus Henderson Group PLC now owns 10,247,171 shares of the auto manufacturer’s stock valued at $357,944,000 after purchasing an additional 7,625,809 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of General Motors during the 3rd quarter valued at $202,352,000. Vanguard Group Inc. grew its position in shares of General Motors by 4.0% during the 2nd quarter. Vanguard Group Inc. now owns 93,414,041 shares of the auto manufacturer’s stock valued at $3,262,952,000 after purchasing an additional 3,560,717 shares in the last quarter. Finally, Parametric Portfolio Associates LLC grew its position in shares of General Motors by 72.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 4,210,479 shares of the auto manufacturer’s stock valued at $147,072,000 after purchasing an additional 1,775,924 shares in the last quarter. Institutional investors and hedge funds own 73.06% of the company’s stock.
General Motors (NYSE GM) traded down $0.25 during midday trading on Wednesday, hitting $42.80. 11,301,400 shares of the stock were exchanged, compared to its average volume of 13,474,719. General Motors has a 52 week low of $31.92 and a 52 week high of $46.76. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.94 and a quick ratio of 0.79. The company has a market cap of $61,148.57, a P/E ratio of 6.95, a P/E/G ratio of 0.75 and a beta of 1.54.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, October 24th. The auto manufacturer reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.25. General Motors had a net margin of 2.00% and a return on equity of 20.95%. The company had revenue of $30.48 billion during the quarter, compared to the consensus estimate of $29.93 billion. During the same period in the previous year, the firm posted $1.72 EPS. The firm’s revenue was down 16.6% compared to the same quarter last year. sell-side analysts predict that General Motors will post 6.24 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders 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 3.55%. The ex-dividend date is Thursday, December 7th. General Motors’s dividend payout ratio is currently 77.95%.
GM has been the subject of a number of recent analyst reports. Piper Jaffray Companies restated a “buy” rating and set a $44.00 price target on shares of General Motors in a research report on Tuesday, September 12th. Deutsche Bank restated a “buy” rating on shares of General Motors in a research report on Friday, November 17th. Goldman Sachs Group lowered shares of General Motors from a “neutral” rating to a “sell” rating and reduced their price target for the company from $43.16 to $32.00 in a research report on Monday, October 30th. Royal Bank Of Canada boosted their price target on shares of General Motors from $44.00 to $51.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 25th. Finally, Barclays upgraded shares of General Motors from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $41.00 to $55.00 in a research report on Friday, October 13th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. General Motors presently has a consensus rating of “Hold” and a consensus price target of $43.70.
In other General Motors news, CFO Charles K. Stevens III sold 265,458 shares of the business’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $44.49, for a total value of $11,810,226.42. Following the completion of the sale, the chief financial officer now directly owns 326,510 shares of the company’s stock, valued at $14,526,429.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Thomas S. Timko sold 44,791 shares of the business’s stock in a transaction on 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 completion of the sale, the chief accounting officer now directly owns 66,838 shares of the company’s stock, valued at $2,971,617.48. The disclosure for this sale can be found here. Insiders have sold a total of 971,122 shares of company stock valued at $40,627,952 over the last ninety days. 0.04% of the stock is currently owned by insiders.
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General Motors Company 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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