Hourglass Capital LLC Buys 9,840 Shares of General Motors (NYSE:GM)

Hourglass Capital LLC raised its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 14.3% in the third quarter, HoldingsChannel reports. The firm owned 78,757 shares of the auto manufacturer’s stock after buying an additional 9,840 shares during the quarter. Hourglass Capital LLC’s holdings in General Motors were worth $3,531,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Capital World Investors raised its position in General Motors by 14.6% during the 1st quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock valued at $2,211,609,000 after purchasing an additional 6,201,777 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of General Motors by 1.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 12,951,561 shares of the auto manufacturer’s stock worth $601,730,000 after acquiring an additional 135,717 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of General Motors by 9.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock worth $600,291,000 after acquiring an additional 1,091,137 shares during the period. Diamond Hill Capital Management Inc. grew its holdings in shares of General Motors by 3.9% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 11,113,063 shares of the auto manufacturer’s stock worth $498,310,000 after acquiring an additional 421,989 shares during the period. Finally, LSV Asset Management grew its holdings in shares of General Motors by 2.6% during the 2nd quarter. LSV Asset Management now owns 8,847,440 shares of the auto manufacturer’s stock worth $411,052,000 after acquiring an additional 223,260 shares during the period. Institutional investors own 92.67% of the company’s stock.

Insider Buying and Selling

In other news, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total value of $108,907.62. Following the transaction, the executive vice president now directly owns 10,356 shares in the company, valued at $489,942.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, President Mark L. Reuss sold 122,283 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total value of $6,745,130.28. Following the transaction, the president now directly owns 126,907 shares in the company, valued at $7,000,190.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction dated Friday, August 23rd. The stock was 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 in the company, valued at $489,942.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 653,511 shares of company stock valued at $35,012,844. 0.72% of the stock is owned by company insiders.

General Motors Price Performance

NYSE GM opened at $57.72 on Thursday. The business’s fifty day moving average price is $49.15 and its 200-day moving average price is $47.06. The stock has a market capitalization of $63.47 billion, a price-to-earnings ratio of 6.15, a PEG ratio of 0.43 and a beta of 1.40. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. General Motors has a 1-year low of $27.41 and a 1-year high of $58.42.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping 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 company had revenue of $48.76 billion for the quarter, compared to analysts’ expectations of $44.67 billion. During the same period last year, the firm earned $2.28 EPS. General Motors’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, equities analysts predict that General Motors will post 10.35 earnings per share for the current year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.83%. General Motors’s dividend payout ratio is currently 5.12%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GM. DZ Bank downgraded General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price on the stock. in a report on Friday, October 11th. Wedbush upped their target price on General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Wells Fargo & Company upped their price target on General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 23rd. Nomura downgraded General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target on the stock. in a research note on Monday, August 5th. Finally, Nomura Securities upgraded General Motors to a “strong sell” rating in a research note on Monday, August 5th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.92.

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.