Integrated Investment Consultants LLC Buys 175,686 Shares of General Motors (NYSE:GM)

Integrated Investment Consultants LLC increased its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 3,541.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 180,647 shares of the auto manufacturer’s stock after buying an additional 175,686 shares during the quarter. Integrated Investment Consultants LLC’s holdings in General Motors were worth $8,100,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GM. German American Bancorp Inc. lifted its position in General Motors by 11.2% in the third quarter. German American Bancorp Inc. now owns 124,495 shares of the auto manufacturer’s stock worth $5,582,000 after purchasing an additional 12,579 shares during the period. Trustmark National Bank Trust Department boosted its position in shares of General Motors by 8.7% during the 3rd quarter. Trustmark National Bank Trust Department now owns 25,891 shares of the auto manufacturer’s stock valued at $1,161,000 after acquiring an additional 2,067 shares in the last quarter. Cornerstone Advisors LLC increased its stake in General Motors by 2.0% in the third quarter. Cornerstone Advisors LLC now owns 67,600 shares of the auto manufacturer’s stock valued at $3,031,000 after acquiring an additional 1,300 shares during the period. Portfolio Design Labs LLC acquired a new position in General Motors in the third quarter worth about $1,719,000. Finally, Advisors Asset Management Inc. lifted its stake in General Motors by 54.1% during the third quarter. Advisors Asset Management Inc. now owns 7,075 shares of the auto manufacturer’s stock worth $317,000 after purchasing an additional 2,484 shares during the period. 92.67% of the stock is currently owned by institutional investors.

General Motors Trading Down 0.4 %

NYSE GM opened at $54.88 on Thursday. General Motors has a 52 week low of $27.70 and a 52 week high of $59.39. 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 stock’s 50 day moving average price is $50.31 and its two-hundred day moving average price is $47.53. The stock has a market capitalization of $60.35 billion, a price-to-earnings ratio of 5.85, a PEG ratio of 0.42 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, beating the consensus estimate of $2.49 by $0.47. The firm had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.28 earnings per share. As a group, analysts anticipate that General Motors will post 10.35 earnings per share for the current fiscal year.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.87%. The ex-dividend date is Friday, December 6th. General Motors’s dividend payout ratio is 5.12%.

Insiders Place Their Bets

In related news, EVP Craig B. Glidden sold 383,142 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $56.63, for a total value 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 $6,935,192.95. The trade was a 75.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Mark L. Reuss sold 122,283 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total value of $6,745,130.28. Following the transaction, the president now owns 126,907 shares in the company, valued at $7,000,190.12. The trade was a 49.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,036,653 shares of company stock valued at $56,710,175 over the last ninety days. 0.72% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Royal Bank of Canada raised their target price on General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Morgan Stanley downgraded shares of General Motors from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $47.00 to $42.00 in a research report on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $53.00 price target on shares of General Motors in a research note on Tuesday, September 10th. Wells Fargo & Company raised their price objective on shares of General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a research note on Wednesday, October 23rd. Finally, The Goldman Sachs Group upped their price target on General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $56.92.

About General Motors

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.