Psagot Investment House Ltd. decreased its position in General Motors (NYSE:GM) (TSE:GMM.U) by 2.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 77,495 shares of the auto manufacturer’s stock after selling 1,684 shares during the period. Psagot Investment House Ltd.’s holdings in General Motors were worth $2,609,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. Polianta Ltd acquired a new stake in shares of General Motors in the second quarter valued at about $1,059,000. State of Alaska Department of Revenue lifted its stake in shares of General Motors by 28.4% in the second quarter. State of Alaska Department of Revenue now owns 210,019 shares of the auto manufacturer’s stock valued at $8,274,000 after purchasing an additional 46,440 shares during the period. Denali Advisors LLC lifted its stake in shares of General Motors by 1.2% in the second quarter. Denali Advisors LLC now owns 404,700 shares of the auto manufacturer’s stock valued at $15,945,000 after purchasing an additional 4,800 shares during the period. Addison Capital Co acquired a new stake in shares of General Motors in the second quarter valued at about $1,456,000. Finally, Ledyard National Bank lifted its stake in shares of General Motors by 9.4% in the second quarter. Ledyard National Bank now owns 21,083 shares of the auto manufacturer’s stock valued at $830,000 after purchasing an additional 1,805 shares during the period. 73.90% of the stock is currently owned by institutional investors and hedge funds.
Shares of GM opened at $36.88 on Thursday. The company has a quick ratio of 0.76, a current ratio of 0.89 and a debt-to-equity ratio of 1.75. The stock has a market cap of $51.46 billion, a price-to-earnings ratio of 5.57, a price-to-earnings-growth ratio of 0.70 and a beta of 1.25. General Motors has a 12-month low of $30.56 and a 12-month high of $45.52.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 20th. Shareholders of record on Friday, December 7th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend is Thursday, December 6th. General Motors’s payout ratio is currently 22.96%.
Several analysts recently commented on GM shares. Morgan Stanley raised their price objective on shares of General Motors from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Tuesday. Bank of America reiterated a “buy” rating and issued a $60.00 price objective on shares of General Motors in a research note on Wednesday, September 12th. ValuEngine cut shares of General Motors from a “hold” rating to a “sell” rating in a research note on Tuesday, September 4th. Citigroup reduced their price objective on shares of General Motors from $60.00 to $57.00 and set a “buy” rating for the company in a research note on Thursday, October 4th. Finally, Goldman Sachs Group set a $36.00 price objective on shares of General Motors and gave the company a “neutral” rating in a research note on Tuesday, September 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $46.38.
General Motors Company Profile
General Motors Company, together with its subsidiaries, designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
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