General Motors (NYSE:GM) Shares Acquired by Czech National Bank

Czech National Bank lifted its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 5.3% during the third quarter, HoldingsChannel reports. The fund owned 228,954 shares of the auto manufacturer’s stock after acquiring an additional 11,533 shares during the quarter. Czech National Bank’s holdings in General Motors were worth $10,266,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Capital World Investors increased its stake in shares of General Motors by 14.6% during 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. Putnam Investments LLC boosted its holdings in General Motors by 16.8% during the fourth quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock worth $726,942,000 after buying an additional 2,905,689 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in General Motors by 21.9% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock worth $650,062,000 after buying an additional 3,247,050 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in General Motors by 1.1% during the second quarter. Bank of New York Mellon Corp now owns 12,951,561 shares of the auto manufacturer’s stock worth $601,730,000 after buying an additional 135,717 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in General Motors by 9.2% during the second 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. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on GM shares. Wolfe Research started coverage on shares of General Motors in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Wells Fargo & Company decreased their price objective on shares of General Motors from $34.00 to $33.00 and set an “underweight” rating on the stock in a report on Tuesday, September 10th. UBS Group boosted their price objective on shares of General Motors from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, Royal Bank of Canada reduced their price target on shares of General Motors from $58.00 to $54.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $55.47.

Insider Transactions at General Motors

In other General Motors news, CFO Paul A. Jacobson acquired 25,000 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was bought at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the transaction, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Paul A. Jacobson purchased 25,000 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was acquired at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the acquisition, the chief financial officer now owns 261,872 shares in the company, valued at approximately $11,551,173.92. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Rory Harvey sold 2,302 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total transaction of $108,907.62. Following the sale, the executive vice president now directly 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. Company insiders own 0.72% of the company’s stock.

General Motors Trading Up 1.6 %

GM stock traded up $0.70 on Friday, hitting $45.68. 11,429,409 shares of the company were exchanged, compared to its average volume of 15,268,132. General Motors has a twelve month low of $26.30 and a twelve month high of $50.50. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99. The business’s fifty day moving average is $45.91 and its two-hundred day moving average is $45.64. The stock has a market capitalization of $52.12 billion, a price-to-earnings ratio of 5.58, a price-to-earnings-growth ratio of 0.56 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, topping the consensus estimate of $2.67 by $0.39. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The firm had revenue of $47.97 billion during the quarter, compared to analyst estimates of $45.13 billion. During the same quarter in the prior year, the business posted $1.91 earnings per share. General Motors’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, research analysts forecast that General Motors will post 9.95 earnings per share for the current year.

General Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, September 6th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Friday, September 6th. General Motors’s payout ratio is currently 5.87%.

General Motors announced that its board has authorized a share buyback plan on Tuesday, June 11th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the auto manufacturer to repurchase up to 10.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

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.