Nomura Asset Management Co. Ltd. Buys 65,971 Shares of General Motors (NYSE:GM)

Nomura Asset Management Co. Ltd. increased its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 17.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 437,352 shares of the auto manufacturer’s stock after acquiring an additional 65,971 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in General Motors were worth $19,611,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Chicago Partners Investment Group LLC grew its stake 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 valued at $510,000 after buying an additional 1,559 shares in the last quarter. Donald Smith & CO. Inc. grew its position in shares of General Motors by 12.1% in the 3rd quarter. Donald Smith & CO. Inc. now owns 1,629,573 shares of the auto manufacturer’s stock valued at $73,070,000 after acquiring an additional 175,860 shares during the period. Foster & Motley Inc. raised its holdings in shares of General Motors by 121.5% in the 3rd 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 period. Stoneridge Investment Partners LLC lifted its stake in General Motors by 115.1% in the 3rd 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. grew its holdings in General Motors by 14.9% during the third quarter. Olstein Capital Management L.P. now owns 162,000 shares of the auto manufacturer’s stock worth $7,264,000 after purchasing an additional 21,000 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on GM shares. DZ Bank downgraded General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price for the company. in a research note on Friday, October 11th. UBS Group upped their price objective on shares of General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Wolfe Research initiated coverage on shares of General Motors in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. Sanford C. Bernstein upped their price target on shares of General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. Finally, Wells Fargo & Company boosted their price objective on General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a report on Wednesday, October 23rd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, General Motors presently has a consensus rating of “Hold” and an average target price of $58.89.

Insider Buying and Selling

In other General Motors news, CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the sale, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. The trade was a 42.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Rory Harvey sold 9,307 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $54.01, for a total value of $502,671.07. Following the completion of the sale, the executive vice president now directly owns 8,513 shares in the company, valued at approximately $459,787.13. The trade was a 52.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,030,475 shares of company stock valued at $56,509,286 over the last three months. 0.72% of the stock is owned by company insiders.

General Motors Stock Up 0.1 %

General Motors stock opened at $52.76 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $58.01 billion, a P/E ratio of 5.62, a P/E/G ratio of 0.40 and a beta of 1.42. The firm has a 50 day moving average price of $52.41 and a 200-day moving average price of $48.47. General Motors has a twelve month low of $32.83 and a twelve month high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data 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 net margin of 6.06% and a return on equity of 16.30%. The company had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. During the same period last year, the firm earned $2.28 EPS. General Motors’s revenue for the quarter was up 10.5% on a year-over-year basis. As a group, equities analysts predict that General Motors will post 10.35 EPS for the current year.

General Motors Announces Dividend

The company also recently announced 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. This represents a $0.48 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Friday, December 6th. General Motors’s dividend payout ratio is 5.12%.

General Motors 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.