Fifth Third Wealth Advisors LLC Boosts Stock Position in General Motors (NYSE:GM)

Fifth Third Wealth Advisors LLC lifted its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 2.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,581 shares of the auto manufacturer’s stock after purchasing an additional 416 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in General Motors were worth $833,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GM. Capital World Investors raised its position in General Motors by 14.6% in the first quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock worth $2,211,609,000 after acquiring an additional 6,201,777 shares during the period. Swedbank AB purchased a new stake in shares of General Motors during the 1st quarter worth approximately $159,750,000. Artemis Investment Management LLP raised its holdings in shares of General Motors by 581.4% in the 3rd quarter. Artemis Investment Management LLP now owns 1,601,856 shares of the auto manufacturer’s stock worth $71,827,000 after purchasing an additional 1,366,768 shares during the period. Dimensional Fund Advisors LP lifted its stake in 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 purchasing an additional 1,091,137 shares during the last quarter. Finally, Panagora Asset Management Inc. grew its holdings in General Motors by 3,333.1% during the second quarter. Panagora Asset Management Inc. now owns 783,340 shares of the auto manufacturer’s stock valued at $36,394,000 after purchasing an additional 760,523 shares during the period. 92.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at General Motors

In other news, President Mark L. Reuss sold 122,283 shares of General Motors stock in a transaction that occurred on 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 sale, the president now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mary T. Barra sold 506,824 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total value of $27,028,923.92. Following the transaction, the chief executive officer now owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. This represents a 42.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 653,511 shares of company stock valued at $35,012,844 in the last quarter. Company insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on GM shares. Wolfe Research started coverage on General Motors in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. UBS Group boosted their price target on shares of General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price objective on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. 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 research report on Friday, October 11th. Finally, The Goldman Sachs Group raised their price target on General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, General Motors has an average rating of “Hold” and a consensus target price of $56.92.

General Motors Price Performance

Shares of NYSE:GM opened at $55.12 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. The stock has a market cap of $60.61 billion, a PE ratio of 5.88, a PEG ratio of 0.43 and a beta of 1.40. The company’s fifty day moving average is $50.10 and its 200 day moving average is $47.48. General Motors has a 52 week low of $27.70 and a 52 week high of $59.39.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share 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 company had revenue of $48.76 billion during the quarter, compared to analyst estimates of $44.67 billion. During the same quarter in the previous year, the company posted $2.28 EPS. General Motors’s revenue for the quarter was up 10.5% on a year-over-year basis. Research analysts anticipate that General Motors will post 10.35 earnings per share for the current year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.87%. General Motors’s dividend payout ratio is currently 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.