General Motors Company $GM Stock Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. raised its position in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 12.2% during the third quarter, HoldingsChannel.com reports. The fund owned 2,925,457 shares of the auto manufacturer’s stock after buying an additional 318,762 shares during the quarter. Russell Investments Group Ltd.’s holdings in General Motors were worth $225,877,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. PBU The Pension Fund of Early Childhood & Youth Educators grew its stake in General Motors by 28.1% during the third quarter. PBU The Pension Fund of Early Childhood & Youth Educators now owns 422,525 shares of the auto manufacturer’s stock worth $32,534,000 after purchasing an additional 92,761 shares during the period. Werba Rubin Papier Wealth Management bought a new stake in General Motors in the third quarter worth approximately $228,000. R Squared Ltd increased its holdings in General Motors by 11.9% in the third quarter. R Squared Ltd now owns 12,526 shares of the auto manufacturer’s stock worth $965,000 after purchasing an additional 1,337 shares in the last quarter. Bingham Private Wealth LLC lifted its stake in General Motors by 2.3% in the third quarter. Bingham Private Wealth LLC now owns 6,872 shares of the auto manufacturer’s stock valued at $529,000 after buying an additional 155 shares during the period. Finally, Maryland State Retirement & Pension System lifted its stake in General Motors by 10.4% in the third quarter. Maryland State Retirement & Pension System now owns 53,717 shares of the auto manufacturer’s stock valued at $4,136,000 after buying an additional 5,059 shares during the period. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Stock Performance

Shares of General Motors stock opened at $86.37 on Friday. General Motors Company has a one year low of $67.06 and a one year high of $93.70. The firm has a market capitalization of $72.86 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 0.50 and a beta of 1.40. The business has a 50-day simple moving average of $83.56 and a 200 day simple moving average of $81.00. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.09 and a quick ratio of 0.94.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results 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. The business had revenue of $50.02 billion for the quarter, compared to the consensus estimate of $48.78 billion. General Motors had a return on equity of 19.36% and a net margin of 2.12%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the prior year, the business earned $2.80 EPS. On average, research analysts anticipate that General Motors Company will post 13.36 earnings per share for the current fiscal year.

General Motors announced that its board has initiated a stock repurchase plan on Tuesday, October 20th that allows the company to repurchase $20 billion in outstanding shares. This repurchase authorization allows the auto manufacturer to buy up to 27.5% of its stock through open market purchases. Share repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Friday, December 4th will be issued a dividend of $0.18 per share. The ex-dividend date is Friday, December 4th. This represents a $0.72 annualized dividend and a dividend yield of 0.8%. General Motors’s payout ratio is currently 16.51%.

Insider Buying and Selling at General Motors

In other news, EVP Rory Harvey sold 16,513 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $89.64, for a total transaction of $1,480,225.32. Following the transaction, the executive vice president directly owned 12,000 shares of the company’s stock, valued at $1,075,680. This represents a 57.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.44% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

GM has been the topic of a number of research analyst reports. Jefferies Financial Group upgraded General Motors from a “hold” rating to a “buy” rating and increased their price target for the stock from $90.00 to $99.00 in a report on Monday, July 27th. Truist Financial set a $105.00 price objective on shares of General Motors in a research note on Wednesday, October 7th. Barclays dropped their target price on shares of General Motors from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 21st. TD Cowen reissued a “buy” rating and set a $132.00 target price on shares of General Motors in a research note on Wednesday, October 21st. Finally, JPMorgan Chase & Co. cut their target price on shares of General Motors from $120.00 to $110.00 and set an “overweight” rating on the stock in a research note on Monday, October 12th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, General Motors has a consensus rating of “Moderate Buy” and a consensus price target of $101.44.

General Motors Profile

General Motors Company designs, manufactures and sells cars, trucks, crossovers and sport utility vehicles. Its vehicle brands include Chevrolet, Buick, GMC and Cadillac, and its offerings also include vehicle parts, software and related services. GM Financial provides automotive financing and leasing products to customers and dealers. Founded in 1908, General Motors is headquartered in Detroit, Michigan. The company serves customers in North America and international markets, with operations and sales spanning multiple regions.