General Motors (NYSE:GM) Shares Purchased by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC raised its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 30.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 17,071 shares of the auto manufacturer’s stock after acquiring an additional 3,957 shares during the period. Pallas Capital Advisors LLC’s holdings in General Motors were worth $765,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Capital World Investors boosted its position in shares of 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 last quarter. Swedbank AB purchased a new position in General Motors during the first quarter worth approximately $159,750,000. Artemis Investment Management LLP boosted 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 valued at $71,827,000 after purchasing an additional 1,366,768 shares during the last quarter. Dimensional Fund Advisors LP grew its stake 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 valued at $600,291,000 after buying an additional 1,091,137 shares during the period. Finally, Panagora Asset Management Inc. grew its stake in shares of General Motors by 3,333.1% during the 2nd quarter. Panagora Asset Management Inc. now owns 783,340 shares of the auto manufacturer’s stock valued at $36,394,000 after buying an additional 760,523 shares during the period. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Stock Up 0.8 %

GM stock opened at $51.96 on Thursday. The company has a current ratio of 1.21, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. The firm has a 50 day simple moving average of $48.17 and a 200-day simple moving average of $46.37. The company has a market capitalization of $57.14 billion, a P/E ratio of 5.54, a PEG ratio of 0.60 and a beta of 1.42. General Motors has a twelve month low of $26.30 and a twelve month high of $54.29.

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 for the quarter, topping the consensus estimate of $2.49 by $0.47. The company had revenue of $48.76 billion during the quarter, compared to analyst estimates of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period last year, the business earned $2.28 EPS. On average, equities research analysts predict that General Motors will post 10.05 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The company also recently disclosed 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. This represents a $0.48 annualized dividend and a yield of 0.92%. The ex-dividend date is Friday, December 6th. General Motors’s dividend payout ratio is currently 5.12%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GM. DZ Bank cut 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. Nomura lowered General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective on the stock. in a research note on Monday, August 5th. The Goldman Sachs Group increased their target price on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Nomura Securities upgraded shares of General Motors to a “strong sell” rating in a report on Monday, August 5th. Finally, Royal Bank of Canada boosted their price objective on shares of General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, General Motors presently has an average rating of “Hold” and an average price target of $56.92.

Insider Buying and Selling at General Motors

In other news, EVP Rory Harvey sold 2,302 shares of the business’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 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 approximately $489,942.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Mary T. Barra sold 506,824 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the sale, the chief executive officer now owns 694,548 shares in the company, valued at $37,040,244.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Rory Harvey sold 2,302 shares of General Motors 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 transaction, the executive vice president now owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 531,228 shares of company stock worth $28,267,714 over the last quarter. 0.72% of the stock is owned by corporate insiders.

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.