Diamond Hill Capital Management Inc. Buys 421,989 Shares of General Motors (NYSE:GM)

Diamond Hill Capital Management Inc. increased its stake in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 3.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,113,063 shares of the auto manufacturer's stock after buying an additional 421,989 shares during the quarter. General Motors comprises 2.0% of Diamond Hill Capital Management Inc.'s holdings, making the stock its 14th largest position. Diamond Hill Capital Management Inc. owned 1.01% of General Motors worth $498,310,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital World Investors boosted its holdings in General Motors by 14.6% in the first quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer's stock valued at $2,211,609,000 after purchasing an additional 6,201,777 shares during the period. Swedbank AB acquired a new stake in shares of General Motors in the 1st quarter worth approximately $159,750,000. Artemis Investment Management LLP lifted its stake in General Motors by 581.4% in the 3rd quarter. Artemis Investment Management LLP now owns 1,601,856 shares of the auto manufacturer's stock valued at $71,827,000 after buying an additional 1,366,768 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of General Motors by 9.2% in the second quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer's stock valued at $600,291,000 after purchasing an additional 1,091,137 shares during the period. Finally, Panagora Asset Management Inc. lifted its stake in shares of General Motors by 3,333.1% in the 2nd quarter. Panagora Asset Management Inc. now owns 783,340 shares of the auto manufacturer's stock valued at $36,394,000 after purchasing an additional 760,523 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company's stock.

General Motors Trading Up 4.3 %

General Motors stock traded up $2.39 during trading on Monday, hitting $57.97. The company had a trading volume of 4,433,998 shares, compared to its average volume of 14,919,764. The stock has a market cap of $63.74 billion, a price-to-earnings ratio of 5.93, a price-to-earnings-growth ratio of 0.42 and a beta of 1.40. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24. The company's 50 day simple moving average is $48.81 and its 200-day simple moving average is $46.89. General Motors has a 1-year low of $26.64 and a 1-year high of $57.97.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.49 by $0.47. The firm had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The firm's quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.28 earnings per share. As a group, analysts expect that General Motors will post 10.34 EPS for the current fiscal year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, December 6th. General Motors's dividend payout ratio is presently 5.12%.

Insider Activity at General Motors

In related news, President Mark L. Reuss sold 122,283 shares of General Motors stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total value of $6,745,130.28. Following the completion of the sale, the president now owns 126,907 shares in the company, valued at approximately $7,000,190.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Rory Harvey sold 9,307 shares of General Motors stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $54.01, for a total value of $502,671.07. Following the transaction, the executive vice president now owns 8,513 shares of the company's stock, valued at approximately $459,787.13. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Mark L. Reuss sold 122,283 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the transaction, the president now directly owns 126,907 shares in the company, valued at $7,000,190.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 653,511 shares of company stock worth $35,012,844. 0.72% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

GM has been the subject of a number of research analyst reports. Morgan Stanley downgraded General Motors from an "equal weight" rating to an "underweight" rating and lowered their price target for the company from $47.00 to $42.00 in a report on Wednesday, September 25th. JPMorgan Chase & Co. increased their target price on General Motors from $64.00 to $70.00 and gave the company an "overweight" rating in a research note on Wednesday, October 23rd. UBS Group increased their price objective on General Motors from $58.00 to $62.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $53.00 price objective on shares of General Motors in a report on Tuesday, September 10th. Finally, DZ Bank lowered shares of General Motors from a "buy" rating to a "hold" rating and set a $49.00 price target on the stock. in a research note on Friday, October 11th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $56.92.

General Motors Company Profile

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.