Hourglass Capital LLC Grows Holdings in General Motors (NYSE:GM)

Hourglass Capital LLC raised its stake in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 14.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,757 shares of the auto manufacturer's stock after acquiring an additional 9,840 shares during the period. Hourglass Capital LLC's holdings in General Motors were worth $3,531,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC lifted its holdings in shares of General Motors by 15.9% in the third quarter. Chicago Partners Investment Group LLC now owns 11,382 shares of the auto manufacturer's stock worth $510,000 after acquiring an additional 1,559 shares during the last quarter. Donald Smith & CO. Inc. grew its position in General Motors by 12.1% during the 3rd quarter. Donald Smith & CO. Inc. now owns 1,629,573 shares of the auto manufacturer's stock worth $73,070,000 after acquiring an additional 175,860 shares during the last quarter. Foster & Motley Inc. raised its position in General Motors by 121.5% in the third quarter. Foster & Motley Inc. now owns 47,169 shares of the auto manufacturer's stock valued at $2,115,000 after purchasing an additional 25,869 shares during the last quarter. Stoneridge Investment Partners LLC raised its position in General Motors by 115.1% in the third quarter. Stoneridge Investment Partners LLC now owns 178,443 shares of the auto manufacturer's stock valued at $8,001,000 after purchasing an additional 95,484 shares during the last quarter. Finally, Olstein Capital Management L.P. raised its position in General Motors by 14.9% in the third quarter. Olstein Capital Management L.P. now owns 162,000 shares of the auto manufacturer's stock valued at $7,264,000 after purchasing an additional 21,000 shares during the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Price Performance

NYSE:GM traded up $0.05 during mid-day trading on Thursday, hitting $57.76. 11,315,202 shares of the stock traded hands, compared to its average volume of 14,891,105. The business's 50-day moving average price is $49.33 and its 200 day moving average price is $47.13. The company has a market cap of $63.51 billion, a PE ratio of 6.15, a price-to-earnings-growth ratio of 0.43 and a beta of 1.40. General Motors has a 12-month low of $27.42 and a 12-month high of $59.39. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The business had revenue of $48.76 billion during the quarter, compared to analyst estimates of $44.67 billion. During the same period in the previous year, the business posted $2.28 earnings per share. General Motors's revenue for the quarter was up 10.5% on a year-over-year basis. On average, analysts expect that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Announces Dividend

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

Analyst Ratings Changes

Several brokerages have recently weighed in on GM. The Goldman Sachs Group increased their price target on General Motors from $53.00 to $61.00 and gave the company a "buy" rating in a research note on Tuesday, October 1st. Morgan Stanley cut General Motors from an "equal weight" rating to an "underweight" rating and decreased their target price for the stock from $47.00 to $42.00 in a research note on Wednesday, September 25th. JPMorgan Chase & Co. raised their target price on General Motors from $64.00 to $70.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $53.00 target price on shares of General Motors in a research note on Tuesday, September 10th. Finally, Wolfe Research initiated coverage on General Motors in a research note on Thursday, September 5th. They issued 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 given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, General Motors presently has an average rating of "Hold" and an average target price of $56.92.

Insider Transactions at General Motors

In other news, EVP Rory Harvey sold 2,302 shares of the business's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total value of $108,907.62. Following the completion of the sale, the executive vice president now directly owns 10,356 shares in the company, valued at approximately $489,942.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Mary T. Barra sold 506,824 shares of the company's stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the sale, the chief executive officer now directly owns 694,548 shares in the company, valued at $37,040,244.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Rory Harvey sold 2,302 shares of the company's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total transaction of $108,907.62. Following the sale, the executive vice president now owns 10,356 shares of the company's stock, valued at $489,942.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 653,511 shares of company stock worth $35,012,844. 0.72% of the stock is currently owned by insiders.

About General Motors

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.