Mirae Asset Global Investments Co. Ltd. Acquires 283,089 Shares of General Motors Company $GM

Mirae Asset Global Investments Co. Ltd. bought a new position in General Motors Company (NYSE:GM) (TSE:GMM.U) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 283,089 shares of the auto manufacturer’s stock, valued at approximately $21,798,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Avior Wealth Management LLC lifted its position in shares of General Motors by 2.6% during the third quarter. Avior Wealth Management LLC now owns 5,251 shares of the auto manufacturer’s stock worth $404,000 after purchasing an additional 134 shares during the last quarter. Bogart Wealth LLC grew its holdings in shares of General Motors by 17.0% in the second quarter. Bogart Wealth LLC now owns 949 shares of the auto manufacturer’s stock worth $73,000 after purchasing an additional 138 shares during the last quarter. Intelligence Driven Advisers LLC increased its stake in General Motors by 2.0% in the 3rd quarter. Intelligence Driven Advisers LLC now owns 7,236 shares of the auto manufacturer’s stock worth $557,000 after buying an additional 143 shares during the period. Childress Capital Advisors LLC increased its stake in General Motors by 2.8% in the 3rd quarter. Childress Capital Advisors LLC now owns 5,288 shares of the auto manufacturer’s stock worth $407,000 after buying an additional 143 shares during the period. Finally, ARS Wealth Advisors Group LLC increased its stake in General Motors by 2.9% in the 3rd quarter. ARS Wealth Advisors Group LLC now owns 5,234 shares of the auto manufacturer’s stock worth $403,000 after buying an additional 147 shares during the period. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on GM shares. JPMorgan Chase & Co. decreased their price objective on shares of General Motors from $120.00 to $110.00 and set an “overweight” rating for the company in a report on Monday, October 12th. Yorkville Ives began coverage on shares of General Motors in a research note on Monday, October 5th. They issued an “outperform” rating and a $100.00 target price on the stock. BNP Paribas Exane raised their target price on shares of General Motors from $102.00 to $112.00 and gave the stock an “outperform” rating in a research report on Monday, August 31st. Tigress Financial lifted their price target on shares of General Motors from $130.00 to $132.00 and gave the company a “strong-buy” rating in a research note on Wednesday, October 28th. Finally, Weiss Ratings upgraded General Motors from a “hold (c)” rating to a “buy (b-)” rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $101.44.

General Motors Stock Performance

Shares of General Motors stock opened at $89.79 on Tuesday. The firm has a market cap of $75.74 billion, a P/E ratio of 20.59, a P/E/G ratio of 0.47 and a beta of 1.40. The company has a current ratio of 1.09, a quick ratio of 0.94 and a debt-to-equity ratio of 1.32. General Motors Company has a 12 month low of $66.75 and a 12 month high of $91.85. The stock’s fifty day moving average price is $83.12 and its 200-day moving average price is $80.65.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, October 20th. The auto manufacturer reported $3.70 earnings per share for the quarter, topping analysts’ consensus estimates of $3.69 by $0.01. General Motors had a net margin of 2.12% and a return on equity of 19.36%. The company had revenue of $50.02 billion during the quarter, compared to analyst estimates of $48.78 billion. During the same period in the prior year, the firm earned $2.80 earnings per share. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, equities research analysts expect that General Motors Company will post 13.38 earnings per share for the current fiscal year.

General Motors announced that its Board of Directors has authorized a stock repurchase program on Tuesday, October 20th that allows the company to repurchase $20 billion in outstanding shares. This repurchase authorization allows the auto manufacturer to repurchase up to 27.5% of its stock through open market purchases. Share repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Friday, December 4th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, December 4th. This represents a $0.72 dividend on an annualized basis and a yield of 0.8%. General Motors’s dividend payout ratio (DPR) is 16.51%.

About General Motors

General Motors Company (NYSE: GM) is a global automotive company headquartered in Detroit, Michigan. Founded in 1908, GM designs, manufactures and sells vehicles and related services through brands including Chevrolet, Buick, GMC and Cadillac.

GM’s product lineup includes passenger cars, pickup trucks, sport utility vehicles, commercial vehicles and electric vehicles. The company is also developing connected-vehicle technologies, driver-assistance systems and charging and energy-management solutions.