Stoneridge Investment Partners LLC Has $8 Million Stake in General Motors (NYSE:GM)

Stoneridge Investment Partners LLC boosted its holdings in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 115.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 178,443 shares of the auto manufacturer's stock after buying an additional 95,484 shares during the quarter. General Motors makes up about 3.0% of Stoneridge Investment Partners LLC's holdings, making the stock its 6th largest position. Stoneridge Investment Partners LLC's holdings in General Motors were worth $8,001,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Chicago Partners Investment Group LLC grew its position in shares of General Motors by 15.9% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 11,382 shares of the auto manufacturer's stock valued at $510,000 after buying an additional 1,559 shares during the last quarter. GHP Investment Advisors Inc. increased its position in shares of General Motors by 35.6% during the third quarter. GHP Investment Advisors Inc. now owns 1,827 shares of the auto manufacturer's stock worth $82,000 after purchasing an additional 480 shares in the last quarter. ACR Alpine Capital Research LLC lifted its holdings in shares of General Motors by 8.4% in the 1st quarter. ACR Alpine Capital Research LLC now owns 6,337,547 shares of the auto manufacturer's stock valued at $287,408,000 after purchasing an additional 492,693 shares during the last quarter. BDF Gestion acquired a new stake in shares of General Motors in the 2nd quarter valued at about $2,886,000. Finally, Donald Smith & CO. Inc. grew its stake 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 buying an additional 175,860 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at General Motors

In related news, CEO Mary T. Barra sold 506,824 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the sale, the chief executive officer now directly owns 694,548 shares of the company's stock, valued at approximately $37,040,244.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Mary T. Barra sold 506,824 shares of the business'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 transaction, the chief executive officer now directly owns 694,548 shares in the company, valued at $37,040,244.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Rory Harvey sold 12,795 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $49.02, for a total value of $627,210.90. Following the sale, the executive vice president now owns 8,513 shares of the company's stock, valued at approximately $417,307.26. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 531,228 shares of company stock worth $28,267,714. 0.72% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Wedbush increased their price objective on General Motors from $55.00 to $60.00 and gave the company an "outperform" rating in a report on Wednesday, October 23rd. Barclays increased their price target on shares of 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 restated a "hold" rating and issued a $53.00 price objective on shares of General Motors in a research note on Tuesday, September 10th. Sanford C. Bernstein raised their price target on General Motors from $53.00 to $55.00 and gave the stock a "market perform" rating in a report on Friday, October 25th. Finally, StockNews.com downgraded General Motors from a "buy" rating to a "hold" rating in a report on Wednesday, July 24th. Four analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $56.92.

General Motors Stock Up 3.7 %

Shares of GM stock traded up $1.90 during mid-day trading on Tuesday, reaching $53.70. 11,505,540 shares of the company were exchanged, compared to its average volume of 14,989,176. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $54.29. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. The company has a market capitalization of $59.05 billion, a P/E ratio of 5.52, a P/E/G ratio of 0.39 and a beta of 1.40. The business's 50 day simple moving average is $48.37 and its 200 day simple moving average is $46.58.

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

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.12 per share. 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 0.89%. General Motors's dividend payout ratio is currently 5.12%.

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.