Metis Global Partners LLC Raises Position in General Motors (NYSE:GM)

Metis Global Partners LLC grew its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 0.6% during the third quarter, according to its most recent filing with the SEC. The firm owned 36,240 shares of the auto manufacturer’s stock after acquiring an additional 230 shares during the period. Metis Global Partners LLC’s holdings in General Motors were worth $1,625,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Chicago Partners Investment Group LLC lifted its position in General Motors by 15.9% during the 3rd 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 during the period. Donald Smith & CO. Inc. increased its stake 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 in the last quarter. Foster & Motley Inc. lifted 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 grew its stake in shares of General Motors by 115.1% in the 3rd 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 during the last quarter. Finally, Olstein Capital Management L.P. increased its position in General Motors by 14.9% during the 3rd 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 in the last quarter. Institutional investors own 92.67% of the company’s stock.

Insider Activity at General Motors

In other news, 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 value of $6,745,130.28. Following the completion of the sale, the president now owns 126,907 shares in the company, valued at approximately $7,000,190.12. This trade represents a 49.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Rory Harvey sold 2,302 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $47.31, for a total transaction of $108,907.62. Following the transaction, the executive vice president now owns 10,356 shares in the company, valued at $489,942.36. The trade was a 18.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 653,511 shares of company stock valued at $35,012,844. Insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on GM. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $53.00 target price on shares of General Motors in a report on Tuesday, September 10th. Sanford C. Bernstein upped their price target on General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Friday, October 25th. Wells Fargo & Company increased their price objective on shares of General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a research report on Wednesday, October 23rd. Wolfe Research initiated coverage on General Motors in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Four analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $56.92.

General Motors Price Performance

NYSE:GM opened at $57.04 on Friday. The company has a market capitalization of $62.72 billion, a P/E ratio of 6.08, a P/E/G ratio of 0.44 and a beta of 1.40. The business’s 50-day moving average is $49.72 and its 200 day moving average is $47.28. 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 has a 12 month low of $27.42 and a 12 month high of $59.39.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, beating analysts’ consensus estimates 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 in the prior year, the company earned $2.28 EPS. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, equities research analysts forecast that General Motors will post 10.35 earnings per share for the current fiscal year.

General Motors Dividend Announcement

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 given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.84%. The ex-dividend date is Friday, December 6th. General Motors’s dividend payout ratio is 5.12%.

General Motors Company 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.