Howard Capital Management Inc. grew its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 109.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 564,680 shares of the auto manufacturer’s stock after purchasing an additional 295,547 shares during the quarter. General Motors accounts for about 1.8% of Howard Capital Management Inc.’s holdings, making the stock its 9th biggest holding. Howard Capital Management Inc.’s holdings in General Motors were worth $19,013,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. TRUE Private Wealth Advisors purchased a new position in General Motors in the third quarter worth approximately $106,000. Qube Research & Technologies Ltd purchased a new position in General Motors in the second quarter worth approximately $115,000. MUFG Americas Holdings Corp purchased a new position in General Motors in the second quarter worth approximately $123,000. Kaizen Advisory LLC lifted its stake in General Motors by 163.6% in the second quarter. Kaizen Advisory LLC now owns 3,298 shares of the auto manufacturer’s stock worth $130,000 after acquiring an additional 2,047 shares during the last quarter. Finally, CWM LLC lifted its position in shares of General Motors by 108.4% during the 2nd quarter. CWM LLC now owns 3,510 shares of the auto manufacturer’s stock worth $138,000 after buying an additional 1,826 shares during the last quarter. 73.90% of the stock is owned by institutional investors and hedge funds.
Shares of General Motors stock traded down $0.87 during trading on Friday, reaching $35.70. The company’s stock had a trading volume of 9,036,634 shares, compared to its average volume of 15,505,976. The stock has a market capitalization of $52.05 billion, a price-to-earnings ratio of 5.39, a PEG ratio of 0.70 and a beta of 1.25. General Motors has a fifty-two week low of $30.56 and a fifty-two week high of $45.52. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.89 and a quick ratio of 0.76.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Wednesday, October 31st. The auto manufacturer reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.62. The company had revenue of $35.79 billion for the quarter, compared to analysts’ expectations of $34.85 billion. General Motors had a net margin of 0.56% and a return on equity of 25.81%. General Motors’s revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.32 EPS. Analysts anticipate that General Motors will post 6.17 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 20th. Shareholders of record on Friday, December 7th will be paid a $0.38 dividend. The ex-dividend date is Thursday, December 6th. This represents a $1.52 annualized dividend and a yield of 4.26%. General Motors’s dividend payout ratio is currently 22.96%.
Several analysts have recently weighed in on the stock. Morgan Stanley reduced their price objective on shares of General Motors from $50.00 to $46.00 and set an “overweight” rating for the company in a research report on Friday, August 17th. Goldman Sachs Group set a $36.00 price objective on shares of General Motors and gave the stock a “neutral” rating in a research report on Tuesday, September 11th. 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 report on Thursday, October 4th. ValuEngine downgraded shares of General Motors from a “hold” rating to a “sell” rating in a research report on Tuesday, September 4th. Finally, Buckingham Research reduced their price objective on shares of General Motors from $39.00 to $37.00 and set a “neutral” rating for the company in a research report on Thursday, July 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $46.38.
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About General Motors
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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