Blueshift Asset Management LLC Raises Stake in General Motors (NYSE:GM)

Blueshift Asset Management LLC grew its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 229.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,950 shares of the auto manufacturer’s stock after acquiring an additional 39,641 shares during the period. Blueshift Asset Management LLC’s holdings in General Motors were worth $2,554,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Swedbank AB acquired a new stake in General Motors during the first quarter valued at $159,750,000. Jennison Associates LLC grew its position in shares of General Motors by 123.1% during the 3rd quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer’s stock valued at $144,655,000 after acquiring an additional 1,779,897 shares during the period. Artemis Investment Management LLP increased its stake 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 in the last quarter. Dimensional Fund Advisors LP raised its holdings in General Motors by 9.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock worth $600,291,000 after purchasing an additional 1,091,137 shares during the period. Finally, Panagora Asset Management Inc. raised its holdings in General Motors by 3,333.1% in the 2nd quarter. Panagora Asset Management Inc. now owns 783,340 shares of the auto manufacturer’s stock worth $36,394,000 after purchasing an additional 760,523 shares during the period. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Craig B. Glidden sold 383,142 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the sale, the executive vice president now directly owns 122,465 shares in the company, valued at approximately $6,935,192.95. This represents a 75.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $6,745,130.28. Following the completion of the transaction, the president now owns 126,907 shares of the company’s stock, valued at $7,000,190.12. This represents a 49.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,021,556 shares of company stock worth $55,974,057 over the last three months. Company insiders own 0.72% of the company’s stock.

General Motors Trading Down 9.0 %

NYSE GM opened at $54.79 on Wednesday. General Motors has a 12 month low of $27.93 and a 12 month high of $61.24. The stock has a market capitalization of $60.24 billion, a P/E ratio of 5.84, a PEG ratio of 0.45 and a beta of 1.40. The firm’s 50-day moving average is $51.15 and its two-hundred day moving average is $47.88. 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 (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $44.67 billion. During the same quarter last year, the company posted $2.28 EPS. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. On average, sell-side analysts anticipate that General Motors will post 10.35 earnings per share for the current year.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio is currently 5.12%.

Analysts Set New Price Targets

A number of analysts have recently commented on GM shares. Nomura Securities upgraded General Motors to a “strong sell” rating in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $53.00 price target on shares of General Motors in a report on Tuesday, September 10th. Sanford C. Bernstein lifted their target price on shares of General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research report on Friday, October 25th. Wells Fargo & Company upped their price target on shares of General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 23rd. Finally, Barclays lifted their price target on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Four equities research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $56.92.

General Motors 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.