Park Avenue Securities LLC Acquires 9,231 Shares of General Motors (NYSE:GM)

Park Avenue Securities LLC increased its position in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 23.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,849 shares of the auto manufacturer's stock after purchasing an additional 9,231 shares during the period. Park Avenue Securities LLC's holdings in General Motors were worth $2,549,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Geode Capital Management LLC raised its holdings in shares of General Motors by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 23,620,533 shares of the auto manufacturer's stock worth $1,055,395,000 after buying an additional 106,878 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in shares of General Motors by 6.1% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer's stock worth $774,766,000 after purchasing an additional 989,750 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in General Motors by 3.9% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 11,113,063 shares of the auto manufacturer's stock valued at $498,310,000 after purchasing an additional 421,989 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of General Motors by 6.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 5,798,131 shares of the auto manufacturer's stock valued at $259,988,000 after acquiring an additional 358,507 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in shares of General Motors by 123.1% in the 3rd quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer's stock worth $144,655,000 after acquiring an additional 1,779,897 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GM. Hsbc Global Res downgraded General Motors from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 11th. HSBC lowered General Motors from a "buy" rating to a "hold" rating and set a $58.00 target price for the company. in a research note on Wednesday, December 11th. Royal Bank of Canada upped their price target on shares of General Motors from $58.00 to $65.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. Mizuho boosted their target price on shares of General Motors from $59.00 to $62.00 and gave the stock an "outperform" rating in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. increased their price target on shares of General Motors from $64.00 to $70.00 and gave the company an "overweight" rating in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $59.68.

Insiders Place Their Bets

In other General Motors news, President Mark L. Reuss sold 122,283 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total value of $6,745,130.28. Following the completion of the transaction, the president now directly owns 126,907 shares in the company, valued at $7,000,190.12. This trade represents a 49.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Rory Harvey sold 8,919 shares of the company's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $60.01, for a total value of $535,229.19. Following the sale, the executive vice president now owns 8,513 shares in the company, valued at approximately $510,865.13. This represents a 51.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,030,475 shares of company stock valued at $56,509,286 in the last quarter. 0.72% of the stock is currently owned by insiders.

General Motors Trading Down 1.8 %

Shares of NYSE GM traded down $0.94 during midday trading on Friday, reaching $50.90. 9,587,120 shares of the stock were exchanged, compared to its average volume of 8,082,761. The company has a market capitalization of $55.97 billion, a price-to-earnings ratio of 5.43, a P/E/G ratio of 0.36 and a beta of 1.42. General Motors has a 12 month low of $34.32 and a 12 month high of $61.24. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. The business has a 50-day simple moving average of $53.60 and a two-hundred day simple moving average of $49.62.

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 for the quarter, topping analysts' consensus estimates of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The firm had revenue of $48.76 billion during the quarter, compared to analyst estimates of $44.67 billion. During the same period in the prior year, the business earned $2.28 EPS. The company's revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, equities research analysts expect that General Motors will post 10.34 EPS for the current year.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, December 6th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend was Friday, December 6th. General Motors's payout ratio is 5.12%.

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.