Granite Investment Advisors LLC Has $8.45 Million Position in General Motors Company (NYSE:GM)

Granite Investment Advisors LLC lowered its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) by 30.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 209,170 shares of the auto manufacturer’s stock after selling 93,485 shares during the quarter. General Motors accounts for about 1.5% of Granite Investment Advisors LLC’s portfolio, making the stock its 24th biggest holding. Granite Investment Advisors LLC’s holdings in General Motors were worth $8,446,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in GM. Vanguard Group Inc. boosted its stake in General Motors by 4.0% during the 2nd quarter. Vanguard Group Inc. now owns 93,414,041 shares of the auto manufacturer’s stock worth $3,262,952,000 after purchasing an additional 3,560,717 shares during the last quarter. BlackRock Inc. boosted its position in shares of General Motors by 1.1% during the 2nd quarter. BlackRock Inc. now owns 78,753,259 shares of the auto manufacturer’s stock valued at $2,750,849,000 after acquiring an additional 850,211 shares during the last quarter. State Street Corp boosted its position in shares of General Motors by 3.9% during the 1st quarter. State Street Corp now owns 60,423,820 shares of the auto manufacturer’s stock valued at $2,136,563,000 after acquiring an additional 2,252,866 shares during the last quarter. Berkshire Hathaway Inc. boosted its position in shares of General Motors by 20.0% during the 2nd quarter. Berkshire Hathaway Inc. now owns 60,000,000 shares of the auto manufacturer’s stock valued at $2,095,800,000 after acquiring an additional 10,000,000 shares during the last quarter. Finally, Capital World Investors boosted its position in shares of General Motors by 5.0% during the 2nd quarter. Capital World Investors now owns 31,327,192 shares of the auto manufacturer’s stock valued at $1,094,259,000 after acquiring an additional 1,500,500 shares during the last quarter. 74.51% of the stock is currently owned by hedge funds and other institutional investors.

GM has been the topic of several research analyst reports. BidaskClub upgraded shares of General Motors from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Vetr upgraded shares of General Motors from a “hold” rating to a “buy” rating and set a $37.42 price objective on the stock in a report on Monday, July 24th. Piper Jaffray Companies restated a “buy” rating and issued a $44.00 price objective on shares of General Motors in a report on Tuesday, September 12th. Deutsche Bank AG upgraded shares of General Motors from a “hold” rating to a “buy” rating and boosted their price objective for the company from $36.00 to $51.00 in a report on Monday, September 25th. Finally, Citigroup Inc. restated a “buy” rating and issued a $53.00 price objective on shares of General Motors in a report on Monday, October 2nd. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. General Motors currently has a consensus rating of “Hold” and an average target price of $43.61.

In other news, Director Jane L. Mendillo acquired 1,440 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was acquired at an average cost of $34.86 per share, with a total value of $50,198.40. Following the completion of the acquisition, the director now owns 4,560 shares of the company’s stock, valued at $158,961.60. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Nysschen Carel J. De sold 123,645 shares of the stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $44.59, for a total value of $5,513,330.55. Following the completion of the sale, the executive vice president now directly owns 150,484 shares of the company’s stock, valued at $6,710,081.56. The disclosure for this sale can be found here. Insiders sold 971,122 shares of company stock valued at $40,627,952 over the last ninety days. 0.04% of the stock is currently owned by corporate insiders.

Shares of General Motors Company (NYSE:GM) traded up $0.91 on Tuesday, reaching $43.57. The company had a trading volume of 11,731,100 shares, compared to its average volume of 13,453,168. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.94 and a quick ratio of 0.79. The firm has a market capitalization of $61,050.00, a P/E ratio of 6.89, a price-to-earnings-growth ratio of 0.74 and a beta of 1.56. General Motors Company has a 52-week low of $31.92 and a 52-week high of $46.76.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, October 24th. The auto manufacturer reported $1.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.25. The firm had revenue of $30.48 billion during the quarter, compared to the consensus estimate of $29.93 billion. General Motors had a return on equity of 20.95% and a net margin of 2.00%. The firm’s quarterly revenue was down 16.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.72 earnings per share. equities research analysts predict that General Motors Company will post 6.24 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Friday, December 8th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend is Thursday, December 7th. General Motors’s dividend payout ratio (DPR) is 32.90%.

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General Motors Company Profile

General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.

Institutional Ownership by Quarter for General Motors (NYSE:GM)

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