CCM Investment Advisers LLC Acquires Shares of 189,130 General Motors (NYSE:GM)

CCM Investment Advisers LLC acquired a new stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) in the third quarter, HoldingsChannel.com reports. The firm acquired 189,130 shares of the auto manufacturer’s stock, valued at approximately $8,481,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Capital World Investors lifted its holdings in shares of General Motors by 14.6% during the first quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock valued at $2,211,609,000 after acquiring an additional 6,201,777 shares during the period. Bank of New York Mellon Corp increased its stake in shares of General Motors by 1.1% in the second quarter. Bank of New York Mellon Corp now owns 12,951,561 shares of the auto manufacturer’s stock valued at $601,730,000 after buying an additional 135,717 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of General Motors by 9.2% in the second quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock valued at $600,291,000 after buying an additional 1,091,137 shares in the last quarter. LSV Asset Management increased its stake in shares of General Motors by 2.6% in the second quarter. LSV Asset Management now owns 8,847,440 shares of the auto manufacturer’s stock valued at $411,052,000 after buying an additional 223,260 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of General Motors by 0.4% in the fourth quarter. Fisher Asset Management LLC now owns 6,492,719 shares of the auto manufacturer’s stock valued at $233,219,000 after buying an additional 26,260 shares in the last quarter. 92.67% of the stock is owned by institutional investors.

Insider Buying and Selling at General Motors

In other General Motors news, EVP Rory Harvey sold 2,302 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the transaction, the executive vice president now owns 10,356 shares of the company’s stock, valued at $489,942.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Paul A. Jacobson acquired 25,000 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was bought at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the acquisition, the chief financial officer now owns 261,872 shares in the company, valued at $11,551,173.92. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Rory Harvey sold 2,302 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total value of $108,907.62. Following the completion of the sale, the executive vice president now directly owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

General Motors Trading Down 0.5 %

NYSE:GM opened at $47.69 on Friday. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $50.50. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99. The stock has a market capitalization of $53.60 billion, a PE ratio of 5.36, a price-to-earnings-growth ratio of 0.56 and a beta of 1.42. The business’s 50-day simple moving average is $46.14 and its 200-day simple moving average is $45.76.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.67 by $0.39. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The business had revenue of $47.97 billion for the quarter, compared to analysts’ expectations of $45.13 billion. During the same quarter in the previous year, the business posted $1.91 EPS. General Motors’s revenue for the quarter was up 7.2% on a year-over-year basis. Sell-side analysts expect that General Motors will post 9.95 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, September 6th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.01%. The ex-dividend date was Friday, September 6th. General Motors’s dividend payout ratio (DPR) is presently 5.39%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GM. DZ Bank lowered General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price for the company. in a research note on Friday. Wedbush restated an “outperform” rating and issued a $55.00 target price on shares of General Motors in a research note on Wednesday. Wells Fargo & Company lowered their target price on General Motors from $34.00 to $33.00 and set an “underweight” rating for the company in a research note on Tuesday, September 10th. Morgan Stanley lowered General Motors from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $47.00 to $42.00 in a research report on Wednesday, September 25th. Finally, UBS Group lifted their price objective on General Motors from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $55.16.

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.