Maverick Capital Ltd. Increases Stock Holdings in General Motors (NYSE:GM)

Maverick Capital Ltd. increased its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 6.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,428 shares of the auto manufacturer’s stock after acquiring an additional 1,488 shares during the quarter. Maverick Capital Ltd.’s holdings in General Motors were worth $1,051,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in GM. LRI Investments LLC purchased a new position in General Motors in the 1st quarter valued at about $34,000. Cetera Investment Advisers lifted its position in shares of General Motors by 98.5% in the first quarter. Cetera Investment Advisers now owns 330,611 shares of the auto manufacturer’s stock valued at $14,993,000 after acquiring an additional 164,083 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of General Motors by 13.2% in the first quarter. EverSource Wealth Advisors LLC now owns 6,460 shares of the auto manufacturer’s stock worth $288,000 after acquiring an additional 752 shares during the last quarter. GAMMA Investing LLC increased its position in shares of General Motors by 46.0% during the second quarter. GAMMA Investing LLC now owns 14,172 shares of the auto manufacturer’s stock worth $658,000 after purchasing an additional 4,467 shares in the last quarter. Finally, First Hawaiian Bank raised its stake in General Motors by 27.6% in the 2nd quarter. First Hawaiian Bank now owns 37,306 shares of the auto manufacturer’s stock valued at $1,733,000 after purchasing an additional 8,061 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Stock Performance

NYSE:GM opened at $55.59 on Friday. 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 firm has a market cap of $61.13 billion, a price-to-earnings ratio of 5.93, a price-to-earnings-growth ratio of 0.42 and a beta of 1.40. The firm’s fifty day moving average price is $51.56 and its 200 day moving average price is $48.08. General Motors has a 1-year low of $31.52 and a 1-year high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $44.67 billion. During the same quarter in the previous year, the company earned $2.28 EPS. The company’s quarterly revenue was up 10.5% on a year-over-year basis. On average, sell-side analysts expect that General Motors will post 10.35 EPS for the current year.

General Motors Announces Dividend

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 paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio (DPR) is presently 5.12%.

Insider Buying and Selling

In related news, EVP Rory Harvey sold 9,307 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total value of $502,671.07. Following the completion of the transaction, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $459,787.13. The trade was a 52.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Mary T. Barra sold 506,824 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 694,548 shares in the company, valued at approximately $37,040,244.84. This trade represents a 42.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,030,475 shares of company stock worth $56,509,286 in the last three months. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

GM has been the subject of a number of research reports. Nomura lowered shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price for the company. in a report on Monday, August 5th. Sanford C. Bernstein increased their price objective on shares of General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Friday, October 25th. DZ Bank cut General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price on the stock. in a report on Friday, October 11th. JPMorgan Chase & Co. lifted their price objective on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $53.00 target price on shares of General Motors in a report on Tuesday, September 10th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $56.92.

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.