Pitcairn Co. Purchases 565 Shares of General Motors (NYSE:GM)

Pitcairn Co. grew its position in General Motors (NYSE:GM) (TSE:GMM.U) by 8.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 7,359 shares of the auto manufacturer’s stock after buying an additional 565 shares during the period. Pitcairn Co.’s holdings in General Motors were worth $330,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of GM. Swedbank AB purchased a new position in General Motors during the first quarter valued at $159,750,000. Jennison Associates LLC lifted 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 buying an additional 1,779,897 shares in the last quarter. Artemis Investment Management LLP increased its holdings in 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 worth $71,827,000 after acquiring an additional 1,366,768 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in General Motors by 9.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock worth $600,291,000 after acquiring an additional 1,091,137 shares during the period. Finally, Panagora Asset Management Inc. boosted its position in shares of General Motors by 3,333.1% in the second 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. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Price Performance

NYSE:GM opened at $54.79 on Wednesday. The firm has a market capitalization of $60.24 billion, a price-to-earnings ratio of 5.84, a PEG ratio of 0.44 and a beta of 1.40. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. The business has a 50 day simple moving average of $51.15 and a 200-day simple moving average of $47.88. General Motors has a 1 year low of $27.93 and a 1 year high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data 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 company had revenue of $48.76 billion during the quarter, compared to analyst estimates of $44.67 billion. During the same period in the previous year, the firm earned $2.28 earnings per share. General Motors’s quarterly revenue was up 10.5% compared to the same quarter last year. Equities analysts forecast that General Motors will post 10.35 EPS for the current year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be paid 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 payout ratio is currently 5.12%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GM. Barclays lifted their target price on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $53.00 price objective on shares of General Motors in a research report on Tuesday, September 10th. Wedbush lifted their target price on General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group boosted their price target on General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Finally, Sanford C. Bernstein increased their price objective on shares of General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Friday, October 25th. 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, General Motors has an average rating of “Hold” and a consensus target price of $56.92.

Insider Buying and Selling at General Motors

In other General Motors news, EVP Craig B. Glidden sold 383,142 shares of General Motors stock in a transaction on Monday, November 18th. The stock was sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the completion of the sale, the executive vice president now directly owns 122,465 shares of the company’s stock, valued at $6,935,192.95. The trade was a 75.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mary T. Barra sold 506,824 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the transaction, the chief executive officer now directly owns 694,548 shares in the company, valued at $37,040,244.84. The trade was a 42.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,021,556 shares of company stock worth $55,974,057 over the last 90 days. Company insiders own 0.72% of the company’s stock.

General Motors Company 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.