Mirabella Financial Services LLP Raises Stock Holdings in General Motors (NYSE:GM)

Mirabella Financial Services LLP lifted its position in General Motors (NYSE:GM) (TSE:GMM.U) by 132.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 219,124 shares of the auto manufacturer’s stock after purchasing an additional 124,667 shares during the quarter. Mirabella Financial Services LLP’s holdings in General Motors were worth $9,826,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its stake in shares of General Motors by 1.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 12,951,561 shares of the auto manufacturer’s stock worth $601,730,000 after buying an additional 135,717 shares during the period. Dimensional Fund Advisors LP lifted its holdings in General Motors by 9.2% during 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 in the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in General Motors by 3.9% during 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 in the last quarter. LSV Asset Management increased its stake in shares of General Motors by 2.6% during the second 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 in the last quarter. Finally, Swedbank AB acquired a new position in shares of General Motors during the 1st quarter worth about $159,750,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at General Motors

In other General Motors news, EVP Rory Harvey sold 9,307 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $54.01, for a total value of $502,671.07. Following the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $459,787.13. This represents a 52.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mary T. Barra sold 506,824 shares of General Motors 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 of the company’s stock, valued at $37,040,244.84. This trade represents 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.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GM. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $53.00 price target on shares of General Motors in a research note on Tuesday, September 10th. UBS Group upped their target price on General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Nomura Securities upgraded General Motors to a “strong sell” rating in a report on Monday, August 5th. The Goldman Sachs Group boosted their price target on shares of General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Finally, Nomura cut shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective for the company. in a research report on Monday, August 5th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, General Motors presently has a consensus rating of “Hold” and an average price target of $56.92.

General Motors Price Performance

Shares of NYSE:GM opened at $59.19 on Monday. General Motors has a 52 week low of $27.93 and a 52 week high of $59.39. The company has a 50-day moving average price of $50.74 and a 200 day moving average price of $47.71. The company has a market cap of $65.09 billion, a P/E ratio of 6.24, a PEG ratio of 0.44 and a beta of 1.40. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24.

General Motors (NYSE:GM) (TSE:GMM.U) last posted 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. General Motors had a return on equity of 16.30% and a net margin of 6.06%. 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 firm earned $2.28 EPS. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. Research analysts predict that General Motors will post 10.35 earnings per share for the current year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be issued a $0.12 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.81%. General Motors’s dividend payout ratio is presently 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.