Gamco Investors INC. ET AL Has $1.98 Million Holdings in General Motors (NYSE:GM)

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Gamco Investors INC. ET AL cut its position in General Motors (NYSE:GM) (TSE:GMM.U) by 24.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 52,800 shares of the auto manufacturer’s stock after selling 17,440 shares during the quarter. Gamco Investors INC. ET AL’s holdings in General Motors were worth $1,979,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of GM. Boothe Investment Group Inc. grew its stake in General Motors by 8.6% in the 2nd quarter. Boothe Investment Group Inc. now owns 14,275 shares of the auto manufacturer’s stock valued at $550,000 after buying an additional 1,129 shares during the last quarter. South Texas Money Management Ltd. grew its stake in General Motors by 1.8% in the 2nd quarter. South Texas Money Management Ltd. now owns 605,280 shares of the auto manufacturer’s stock valued at $23,321,000 after buying an additional 10,982 shares during the last quarter. DNB Asset Management AS grew its stake in General Motors by 18.1% in the 2nd quarter. DNB Asset Management AS now owns 212,996 shares of the auto manufacturer’s stock valued at $8,207,000 after buying an additional 32,583 shares during the last quarter. Foundations Investment Advisors LLC grew its stake in General Motors by 24.1% in the 2nd quarter. Foundations Investment Advisors LLC now owns 25,228 shares of the auto manufacturer’s stock valued at $963,000 after buying an additional 4,900 shares during the last quarter. Finally, Douglas Lane & Associates LLC grew its stake in General Motors by 1.3% in the 2nd quarter. Douglas Lane & Associates LLC now owns 2,638,958 shares of the auto manufacturer’s stock valued at $101,679,000 after buying an additional 33,981 shares during the last quarter. Institutional investors and hedge funds own 77.03% of the company’s stock.

NYSE GM traded up $0.18 during midday trading on Friday, hitting $38.67. The company had a trading volume of 5,816,834 shares, compared to its average volume of 8,734,329. The company has a quick ratio of 0.82, a current ratio of 0.96 and a debt-to-equity ratio of 1.43. The stock has a market cap of $54.62 billion, a price-to-earnings ratio of 5.91, a P/E/G ratio of 0.73 and a beta of 1.40. The firm has a fifty day simple moving average of $36.58 and a two-hundred day simple moving average of $37.51. General Motors has a fifty-two week low of $31.46 and a fifty-two week high of $41.90.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, October 29th. The auto manufacturer reported $1.72 earnings per share (EPS) 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 company had revenue of $35.50 billion for the quarter, compared to analyst estimates of $35.21 billion. During the same period last year, the business posted $1.87 EPS. The business’s quarterly revenue was down .8% on a year-over-year basis. As a group, equities analysts predict that General Motors will post 4.85 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, December 5th. This represents a $1.52 annualized dividend and a dividend yield of 3.93%. General Motors’s dividend payout ratio (DPR) is currently 23.24%.

In other news, EVP Matthew Tsien sold 83,067 shares of General Motors stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $39.50, for a total transaction of $3,281,146.50. Following the sale, the executive vice president now directly owns 84,667 shares in the company, valued at approximately $3,344,346.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.51% of the stock is currently owned by insiders.

A number of research firms recently issued reports on GM. Buckingham Research lowered their target price on shares of General Motors from $35.00 to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. Barclays lowered their target price on shares of General Motors from $51.00 to $48.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Bank of America set a $55.00 target price on shares of General Motors and gave the company a “buy” rating in a research note on Tuesday, October 15th. Nomura set a $38.00 target price on shares of General Motors and gave the company a “hold” rating in a research note on Wednesday, August 7th. Finally, ValuEngine upgraded shares of General Motors from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $47.00.

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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