42,520 Shares in General Motors (NYSE:GM) Purchased by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB purchased a new stake in General Motors (NYSE:GM) (TSE:GMM.U) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 42,520 shares of the auto manufacturer’s stock, valued at approximately $1,907,000.

A number of other hedge funds have also added to or reduced their stakes in GM. Geode Capital Management LLC grew its stake in shares of General Motors by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 23,620,533 shares of the auto manufacturer’s stock worth $1,055,395,000 after acquiring an additional 106,878 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in General Motors by 6.1% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer’s stock worth $774,766,000 after purchasing an additional 989,750 shares in the last quarter. Bank of New York Mellon Corp increased its stake in General Motors by 1.1% in the 2nd 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 during the last quarter. Dimensional Fund Advisors LP lifted its position 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 buying an additional 1,091,137 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. increased its position in shares of General Motors by 3.9% during the third quarter. Diamond Hill Capital Management Inc. now owns 11,113,063 shares of the auto manufacturer’s stock valued at $498,310,000 after acquiring an additional 421,989 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GM. Royal Bank of Canada upped their price objective on General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Wolfe Research began coverage on shares of General Motors in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. The Goldman Sachs Group raised their price objective on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Mizuho boosted their target price on shares of General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Finally, Wells Fargo & Company raised their price target on shares of General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, General Motors has a consensus rating of “Hold” and a consensus target price of $58.85.

Insider Activity at General Motors

In other news, President Mark L. Reuss sold 122,283 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the transaction, the president now directly owns 126,907 shares in the company, valued at approximately $7,000,190.12. This represents a 49.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Rory Harvey sold 9,307 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $54.01, for a total value of $502,671.07. Following the completion of the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at $459,787.13. The trade was a 52.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,030,475 shares of company stock valued at $56,509,286 over the last three months. 0.72% of the stock is owned by corporate insiders.

General Motors Stock Performance

General Motors stock opened at $52.52 on Friday. General Motors has a 1-year low of $34.32 and a 1-year high of $61.24. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $57.75 billion, a PE ratio of 5.60, a price-to-earnings-growth ratio of 0.39 and a beta of 1.42. The firm’s 50 day simple moving average is $53.00 and its 200 day simple moving average is $48.64.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results 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. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The firm had revenue of $48.76 billion for the quarter, compared to analysts’ expectations of $44.67 billion. During the same quarter in the prior year, the firm posted $2.28 earnings per share. The business’s quarterly revenue was up 10.5% on a year-over-year basis. As a group, analysts expect that General Motors will post 10.35 earnings per share for the current fiscal year.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Friday, December 6th. General Motors’s dividend payout ratio (DPR) is 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.