Olstein Capital Management L.P. Buys 21,000 Shares of General Motors (NYSE:GM)

Olstein Capital Management L.P. raised its holdings in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 14.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 162,000 shares of the auto manufacturer's stock after buying an additional 21,000 shares during the quarter. Olstein Capital Management L.P.'s holdings in General Motors were worth $7,264,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Norden Group LLC bought a new stake in shares of General Motors in the 1st quarter worth approximately $493,000. Nordea Investment Management AB boosted its stake in General Motors by 3.6% during the first quarter. Nordea Investment Management AB now owns 100,090 shares of the auto manufacturer's stock worth $4,532,000 after buying an additional 3,433 shares in the last quarter. Larson Financial Group LLC increased its holdings in General Motors by 16.5% in the 1st quarter. Larson Financial Group LLC now owns 2,086 shares of the auto manufacturer's stock valued at $95,000 after buying an additional 296 shares during the period. Csenge Advisory Group raised its stake in shares of General Motors by 6.1% in the 1st quarter. Csenge Advisory Group now owns 9,661 shares of the auto manufacturer's stock valued at $438,000 after buying an additional 559 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in shares of General Motors by 47.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 4,631 shares of the auto manufacturer's stock valued at $210,000 after acquiring an additional 1,494 shares in the last quarter. 92.67% of the stock is owned by institutional investors.

General Motors Trading Up 0.6 %

Shares of GM traded up $0.34 on Thursday, reaching $55.39. 10,945,562 shares of the company's stock were exchanged, compared to its average volume of 14,989,831. General Motors has a 12 month low of $26.30 and a 12 month high of $55.93. The stock has a market capitalization of $60.91 billion, a P/E ratio of 5.93, a price-to-earnings-growth ratio of 0.39 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 business has a 50 day moving average price of $48.58 and a two-hundred day moving average price of $46.72.

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

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.87%. The ex-dividend date is Friday, December 6th. General Motors's payout ratio is 5.12%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. DZ Bank cut shares of General Motors from a "buy" rating to a "hold" rating and set a $49.00 price target for the company. in a research note on Friday, October 11th. Nomura Securities upgraded General Motors to a "strong sell" rating in a research report on Monday, August 5th. The Goldman Sachs Group increased their price objective on General Motors from $53.00 to $61.00 and gave the stock a "buy" rating in a research note on Tuesday, October 1st. Wedbush upped their target price on shares of General Motors from $55.00 to $60.00 and gave the stock an "outperform" rating in a report on Wednesday, October 23rd. Finally, Wolfe Research assumed coverage on shares of General Motors in a report on Thursday, September 5th. They set a "peer perform" rating for the company. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, General Motors has a consensus rating of "Hold" and an average target price of $56.92.

Insider Activity at General Motors

In other General Motors news, CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the transaction, the chief executive officer now directly owns 694,548 shares in the company, valued at approximately $37,040,244.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Rory Harvey sold 9,307 shares of the firm's stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total transaction of $502,671.07. Following the sale, the executive vice president now directly owns 8,513 shares in the company, valued at $459,787.13. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Mary T. Barra sold 506,824 shares of the company's stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the transaction, the chief executive officer now directly owns 694,548 shares of the company's stock, valued at approximately $37,040,244.84. 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 90 days, insiders sold 531,228 shares of company stock worth $28,267,714. 0.72% of the stock is currently owned by company insiders.

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.