Vinva Investment Management Ltd Buys 12,771 Shares of General Motors (NYSE:GM)

Vinva Investment Management Ltd increased its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 20.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,114 shares of the auto manufacturer’s stock after acquiring an additional 12,771 shares during the quarter. Vinva Investment Management Ltd’s holdings in General Motors were worth $3,445,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Strategic Investment Solutions Inc. IL acquired a new stake in General Motors in the 2nd quarter valued at $25,000. Catalyst Capital Advisors LLC acquired a new stake in General Motors in the 3rd quarter valued at $27,000. Truvestments Capital LLC acquired a new stake in General Motors in the 3rd quarter valued at $27,000. Wellington Shields Capital Management LLC acquired a new stake in General Motors in the 2nd quarter valued at $28,000. Finally, Fortitude Family Office LLC grew its position in General Motors by 56.1% in the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after purchasing an additional 225 shares during the period. Institutional investors own 92.67% of the company’s stock.

General Motors Trading Up 1.3 %

Shares of General Motors stock opened at $55.50 on Friday. General Motors has a 52-week low of $28.33 and a 52-week high of $61.24. The stock’s 50-day simple moving average is $51.43 and its 200 day simple moving average is $47.99. The stock has a market capitalization of $61.03 billion, a P/E ratio of 5.92, a P/E/G ratio of 0.42 and a beta of 1.40. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (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 business had revenue of $48.76 billion for the quarter, compared to analysts’ expectations of $44.67 billion. During the same period in the previous year, the business posted $2.28 EPS. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. As a group, research analysts anticipate that General Motors will post 10.35 EPS for the current year.

General Motors Announces Dividend

The business also recently declared 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 0.86%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio is presently 5.12%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Wolfe Research assumed coverage on shares of General Motors in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Morgan Stanley downgraded shares of General Motors from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $47.00 to $42.00 in a report on Wednesday, September 25th. Royal Bank of Canada lifted their price objective on shares of General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company lifted their price objective on shares of General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a report on Wednesday, October 23rd. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $56.92.

Insider Activity

In related news, EVP Rory Harvey sold 8,919 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $60.01, for a total value of $535,229.19. Following the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at approximately $510,865.13. This represents a 51.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Craig B. Glidden sold 383,142 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the completion of the transaction, the executive vice president now owns 122,465 shares in the company, valued at approximately $6,935,192.95. This trade represents a 75.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,030,475 shares of company stock worth $56,509,286 over the last ninety days. Company insiders own 0.72% of the company’s stock.

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.