US Bancorp DE Grows Stake in General Motors (NYSE:GM)

US Bancorp DE raised its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 12.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 101,299 shares of the auto manufacturer’s stock after acquiring an additional 11,068 shares during the quarter. US Bancorp DE’s holdings in General Motors were worth $4,542,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Norden Group LLC purchased a new stake in shares of General Motors during the 1st quarter valued at approximately $493,000. Nordea Investment Management AB lifted its stake in General Motors by 3.6% in the 1st quarter. Nordea Investment Management AB now owns 100,090 shares of the auto manufacturer’s stock worth $4,532,000 after purchasing an additional 3,433 shares in the last quarter. Proficio Capital Partners LLC lifted its stake in General Motors by 4.3% in the 1st quarter. Proficio Capital Partners LLC now owns 9,025 shares of the auto manufacturer’s stock worth $409,000 after purchasing an additional 375 shares in the last quarter. Callan Capital LLC purchased a new stake in General Motors in the 1st quarter worth approximately $204,000. Finally, Larson Financial Group LLC lifted its stake in General Motors by 16.5% in the 1st quarter. Larson Financial Group LLC now owns 2,086 shares of the auto manufacturer’s stock worth $95,000 after purchasing an additional 296 shares in the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at General Motors

In related news, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the transaction, the executive vice president now directly owns 10,356 shares of the company’s stock, valued at $489,942.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other General Motors news, EVP Rory Harvey sold 2,302 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $47.31, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mary T. Barra sold 506,824 shares of the firm’s 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 of the company’s stock, valued at approximately $37,040,244.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 531,228 shares of company stock valued at $28,267,714 in the last three months. Company insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GM. JPMorgan Chase & Co. increased their target price on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. 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. Nomura lowered shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target on the stock. in a report on Monday, August 5th. Morgan Stanley lowered shares of General Motors from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $47.00 to $42.00 in a report on Wednesday, September 25th. Finally, The Goldman Sachs Group increased their price target 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. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, General Motors currently has a consensus rating of “Hold” and a consensus target price of $56.92.

General Motors Trading Up 1.6 %

NYSE:GM opened at $51.80 on Tuesday. The company has a 50-day moving average price of $48.37 and a 200-day moving average price of $46.58. General Motors has a 12 month low of $26.30 and a 12 month high of $54.29. 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 stock has a market cap of $56.96 billion, a price-to-earnings ratio of 5.52, a P/E/G ratio of 0.38 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS 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 during the quarter, compared to analysts’ expectations of $44.67 billion. During the same period last year, the company posted $2.28 EPS. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. Equities analysts predict that General Motors will post 10.34 EPS for the current year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be given 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 0.93%. General Motors’s dividend payout ratio (DPR) is currently 5.12%.

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.