Balasa Dinverno & Foltz LLC Increases Stock Position in General Motors (NYSE:GM)

Balasa Dinverno & Foltz LLC raised its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 30.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,159 shares of the auto manufacturer’s stock after buying an additional 15,014 shares during the period. Balasa Dinverno & Foltz LLC’s holdings in General Motors were worth $2,405,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in GM. Next Capital Management LLC bought a new position in shares of General Motors during the second quarter valued at $25,000. Trust Co. of Vermont raised its stake in General Motors by 101.2% during the second quarter. Trust Co. of Vermont now owns 666 shares of the auto manufacturer’s stock worth $26,000 after buying an additional 335 shares during the last quarter. Advisors Preferred LLC bought a new position in General Motors during the second quarter worth $26,000. Massey Quick Simon & CO. LLC bought a new position in General Motors during the third quarter worth $26,000. Finally, Quest Capital Management Inc. ADV bought a new position in General Motors during the third quarter worth $26,000. 76.92% of the stock is owned by hedge funds and other institutional investors.

In other General Motors news, EVP Matthew Tsien sold 16,933 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $39.50, for a total value of $668,853.50. Following the transaction, the executive vice president now directly owns 18,533 shares in the company, valued at $732,053.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.51% of the stock is owned by insiders.

General Motors stock traded up $0.27 during midday trading on Wednesday, hitting $35.80. 8,961,910 shares of the stock were exchanged, compared to its average volume of 8,831,008. General Motors has a 52-week low of $31.46 and a 52-week high of $41.90. The stock has a market capitalization of $50.76 billion, a price-to-earnings ratio of 5.47, a price-to-earnings-growth ratio of 0.69 and a beta of 1.37. The business’s 50-day moving average price is $36.77 and its 200-day moving average price is $37.23. The company has a quick ratio of 0.82, a current ratio of 0.96 and a debt-to-equity ratio of 1.43.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, October 29th. The auto manufacturer reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.54. The business had revenue of $35.50 billion for the quarter, compared to analysts’ expectations of $35.21 billion. General Motors had a net margin of 6.19% and a return on equity of 19.78%. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.87 earnings per share. On average, sell-side analysts predict that General Motors will post 4.8 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date of this dividend is Thursday, December 5th. General Motors’s payout ratio is 23.24%.

A number of equities analysts recently weighed in on GM shares. Nomura set a $38.00 target price on shares of General Motors and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Barclays lowered their target price on shares of General Motors from $51.00 to $48.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. UBS Group lifted their price target on shares of General Motors from $46.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Morgan Stanley set a $46.00 price target on shares of General Motors and gave the company a “buy” rating in a research note on Tuesday, September 17th. Finally, ValuEngine raised shares of General Motors from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $46.54.

About General Motors

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.

Further Reading: Percentage Decliners

Institutional Ownership by Quarter for General Motors (NYSE:GM)

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