Coastwise Capital Group LLC Boosts Stock Position in General Motors (NYSE:GM)

Coastwise Capital Group LLC grew its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 18.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,007 shares of the auto manufacturer’s stock after buying an additional 2,382 shares during the period. Coastwise Capital Group LLC’s holdings in General Motors were worth $673,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in GM. Caisse DE Depot ET Placement DU Quebec grew its position in shares of General Motors by 972.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer’s stock valued at $94,300,000 after buying an additional 1,906,964 shares during the last quarter. Jennison Associates LLC increased its position in shares of General Motors by 123.1% during the third quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer’s stock worth $144,655,000 after purchasing an additional 1,779,897 shares in the last quarter. Artemis Investment Management LLP lifted its holdings in shares of 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 valued at $71,827,000 after purchasing an additional 1,366,768 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of General Motors by 9.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock valued at $600,291,000 after purchasing an additional 1,091,137 shares during the period. Finally, Panagora Asset Management Inc. grew its stake in General Motors by 3,333.1% during the 2nd quarter. Panagora Asset Management Inc. now owns 783,340 shares of the auto manufacturer’s stock worth $36,394,000 after buying an additional 760,523 shares during the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity at General Motors

In other General Motors news, CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the sale, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. The trade was a 42.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Rory Harvey sold 8,919 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $60.01, for a total value of $535,229.19. Following the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at approximately $510,865.13. This represents a 51.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,030,475 shares of company stock valued at $56,509,286 over the last quarter. Insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on GM. Wolfe Research assumed coverage on General Motors in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Wells Fargo & Company increased their price target on shares of General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein lifted their price objective on shares of General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. Royal Bank of Canada increased their target price on shares of General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $53.00 price target on shares of General Motors in a research report on Tuesday, September 10th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, General Motors presently has a consensus rating of “Hold” and an average target price of $56.92.

General Motors Price Performance

Shares of NYSE GM opened at $55.59 on Monday. 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 company’s 50-day moving average price is $51.56 and its 200 day moving average price is $48.10. General Motors has a 52 week low of $31.52 and a 52 week high of $61.24. The stock has a market cap of $61.13 billion, a price-to-earnings ratio of 5.93, a PEG ratio of 0.42 and a beta of 1.40.

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. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The business 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 revenue was up 10.5% on a year-over-year basis. As a group, research analysts forecast that General Motors will post 10.35 earnings per share for the current fiscal year.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be given a $0.12 dividend. 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 currently 5.12%.

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.