Zurcher Kantonalbank Zurich Cantonalbank Increases Position in General Motors (NYSE:GM)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 1.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 236,167 shares of the auto manufacturer’s stock after buying an additional 2,517 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in General Motors were worth $10,590,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Bank of New York Mellon Corp boosted its position in General Motors by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 12,951,561 shares of the auto manufacturer’s stock valued at $601,730,000 after buying an additional 135,717 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of General Motors by 9.2% in the second 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. Diamond Hill Capital Management Inc. boosted its holdings in shares of General Motors by 3.9% in the third quarter. Diamond Hill Capital Management Inc. now owns 11,113,063 shares of the auto manufacturer’s stock valued at $498,310,000 after purchasing an additional 421,989 shares during the period. LSV Asset Management increased its holdings in General Motors by 2.6% during the 2nd quarter. LSV Asset Management now owns 8,847,440 shares of the auto manufacturer’s stock worth $411,052,000 after purchasing an additional 223,260 shares during the period. Finally, AustralianSuper Pty Ltd raised its position in General Motors by 7.8% during the 2nd quarter. AustralianSuper Pty Ltd now owns 3,403,708 shares of the auto manufacturer’s stock valued at $158,136,000 after purchasing an additional 246,867 shares in the last quarter. 92.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GM has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $53.00 price target on shares of General Motors in a research report on Tuesday, September 10th. 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 report on Wednesday, October 23rd. Wells Fargo & Company boosted their price target on shares of General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a report on Wednesday, October 23rd. Barclays lifted their price objective on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, UBS Group upped their target price on General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average 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. General Motors has a fifty-two week low of $31.52 and a fifty-two week high of $61.24. The company has a market cap of $61.13 billion, a PE ratio of 5.93, a P/E/G ratio of 0.42 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 business has a 50-day simple moving average of $51.56 and a two-hundred day simple moving average of $48.10.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS 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 company had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. During the same period last year, the business earned $2.28 EPS. General Motors’s revenue for the quarter was up 10.5% on a year-over-year basis. As a group, equities analysts expect that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.86%. General Motors’s dividend payout ratio (DPR) is 5.12%.

Insiders Place Their Bets

In other General Motors news, EVP Craig B. Glidden sold 383,142 shares of General Motors stock in a transaction that occurred on Monday, November 18th. The shares were 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 in the company, valued at approximately $6,935,192.95. The trade was a 75.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 transaction of $535,229.19. Following the completion of the sale, the executive vice president now owns 8,513 shares in the company, valued at $510,865.13. The trade was a 51.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,030,475 shares of company stock valued at $56,509,286. 0.72% of the stock is owned by company insiders.

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.