General Motors (NYSE:GM) Shares Acquired by Advisors Asset Management Inc.

Advisors Asset Management Inc. boosted its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 54.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,075 shares of the auto manufacturer’s stock after buying an additional 2,484 shares during the quarter. Advisors Asset Management Inc.’s holdings in General Motors were worth $317,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Jennison Associates LLC grew its holdings in shares of General Motors by 123.1% in the 3rd quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer’s stock worth $144,655,000 after acquiring an additional 1,779,897 shares during the last quarter. Commerce Bank increased its stake in General Motors by 7.7% in the 3rd quarter. Commerce Bank now owns 41,143 shares of the auto manufacturer’s stock worth $1,845,000 after purchasing an additional 2,954 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in General Motors during the 3rd quarter worth about $2,730,000. Lingohr Asset Management GmbH lifted its stake in General Motors by 5.3% during the third quarter. Lingohr Asset Management GmbH now owns 15,900 shares of the auto manufacturer’s stock valued at $713,000 after buying an additional 800 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its holdings in shares of General Motors by 2.3% in the third quarter. Fifth Third Wealth Advisors LLC now owns 18,581 shares of the auto manufacturer’s stock worth $833,000 after buying an additional 416 shares during the period. Institutional investors own 92.67% of the company’s stock.

General Motors Stock Up 1.3 %

Shares of GM stock opened at $55.50 on Friday. The company has a market capitalization of $61.03 billion, a price-to-earnings ratio of 5.92, a PEG ratio of 0.45 and a beta of 1.40. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. The stock’s 50 day simple moving average is $51.43 and its 200 day simple moving average is $47.99. General Motors has a twelve month low of $28.33 and a twelve month high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last issued 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. The business had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. General Motors’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.28 earnings per share. As a group, research analysts predict that General Motors will post 10.35 EPS for the current year.

General Motors Announces Dividend

The firm 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 dividend of $0.12 per share. The ex-dividend date is Friday, December 6th. This represents a $0.48 annualized dividend and a dividend yield of 0.86%. General Motors’s dividend payout ratio is presently 5.12%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on GM shares. Nomura downgraded shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target for the company. in a research report on Monday, August 5th. Wedbush raised their target price on General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Nomura Securities raised General Motors to a “strong sell” rating in a research report on Monday, August 5th. The Goldman Sachs Group raised their price objective on General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Finally, UBS Group upped their target price on General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Four investment 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. Based on data from MarketBeat.com, General Motors currently has an average rating of “Hold” and an average price target of $56.92.

Insider Activity at General Motors

In related news, CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction dated Wednesday, October 23rd. The stock was 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 directly owns 694,548 shares of the company’s stock, valued at $37,040,244.84. This trade represents a 42.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Rory Harvey sold 9,307 shares of the firm’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. This represents a 52.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,030,475 shares of company stock worth $56,509,286 in the last 90 days. 0.72% of the stock is owned by company insiders.

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.