Parallel Advisors LLC Boosts Stock Position in General Motors (NYSE:GM)

Parallel Advisors LLC boosted its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 28.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,876 shares of the auto manufacturer’s stock after buying an additional 1,534 shares during the quarter. Parallel Advisors LLC’s holdings in General Motors were worth $258,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of GM. Cutter & CO Brokerage Inc. acquired a new position in General Motors in the second quarter valued at $429,000. Chartwell Investment Partners LLC boosted its stake in General Motors by 14.6% in the second quarter. Chartwell Investment Partners LLC now owns 362,829 shares of the auto manufacturer’s stock valued at $13,979,000 after acquiring an additional 46,233 shares in the last quarter. Natixis boosted its stake in General Motors by 2.6% in the second quarter. Natixis now owns 1,078,647 shares of the auto manufacturer’s stock valued at $41,560,000 after acquiring an additional 26,851 shares in the last quarter. Man Group plc boosted its stake in General Motors by 15.0% in the second quarter. Man Group plc now owns 48,299 shares of the auto manufacturer’s stock valued at $1,861,000 after acquiring an additional 6,305 shares in the last quarter. Finally, Bigelow Investment Advisors LLC acquired a new position in General Motors in the second quarter valued at $270,000. 77.03% of the stock is currently owned by hedge funds and other institutional investors.

Shares of GM traded up $0.18 during mid-day trading on Friday, hitting $38.67. 5,816,834 shares of the company’s stock were exchanged, compared to its average volume of 8,734,329. General Motors has a fifty-two week low of $31.46 and a fifty-two week high of $41.90. The firm has a market capitalization of $54.62 billion, a P/E ratio of 5.91, a P/E/G ratio of 0.73 and a beta of 1.40. The business’s 50 day moving average is $36.58 and its two-hundred day moving average is $37.51. The company has a current ratio of 0.96, a quick ratio of 0.82 and a debt-to-equity ratio of 1.43.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, October 29th. The auto manufacturer reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.54. General Motors had a net margin of 6.19% and a return on equity of 19.78%. The business had revenue of $35.50 billion during the quarter, compared to the consensus estimate of $35.21 billion. During the same quarter in the prior year, the firm earned $1.87 earnings per share. The business’s quarterly revenue was down .8% compared to the same quarter last year. On average, equities research analysts forecast that General Motors will post 4.85 earnings per share for the current year.

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The company 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 $0.38 dividend. The ex-dividend date is Thursday, December 5th. This represents a $1.52 dividend on an annualized basis and a yield of 3.93%. General Motors’s payout ratio is currently 23.24%.

Several research firms have issued reports on GM. Bank of America set a $55.00 price objective on shares of General Motors and gave the company a “buy” rating in a research note on Tuesday, October 15th. ValuEngine upgraded shares of General Motors from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. UBS Group upped their price objective on shares of General Motors from $46.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Evercore ISI set a $50.00 target price on shares of General Motors and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada increased their target price on shares of General Motors to $52.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $47.00.

In related news, EVP Matthew Tsien sold 16,933 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $39.50, for a total value of $668,853.50. Following the completion of the sale, the executive vice president now owns 18,533 shares in the company, valued at $732,053.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.51% of the stock is owned by company insiders.

General Motors Profile

General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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