Jacobs Levy Equity Management Inc. Has $259.99 Million Stake in General Motors (NYSE:GM)

Jacobs Levy Equity Management Inc. boosted its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 6.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,798,131 shares of the auto manufacturer’s stock after purchasing an additional 358,507 shares during the quarter. General Motors comprises approximately 1.0% of Jacobs Levy Equity Management Inc.’s investment portfolio, making the stock its 11th largest holding. Jacobs Levy Equity Management Inc.’s holdings in General Motors were worth $259,988,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Hotchkis & Wiley Capital Management LLC lifted 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 buying an additional 989,750 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of General Motors by 1.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 12,951,561 shares of the auto manufacturer’s stock worth $601,730,000 after purchasing an additional 135,717 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of General Motors by 9.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock worth $600,291,000 after buying an additional 1,091,137 shares during the last quarter. Diamond Hill Capital Management Inc. grew its position in General Motors by 3.9% during the third quarter. Diamond Hill Capital Management Inc. now owns 11,113,063 shares of the auto manufacturer’s stock valued at $498,310,000 after buying an additional 421,989 shares during the period. Finally, LSV Asset Management increased its holdings in General Motors by 2.6% during the second quarter. LSV Asset Management now owns 8,847,440 shares of the auto manufacturer’s stock worth $411,052,000 after buying an additional 223,260 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insider Activity at General Motors

In other news, EVP Rory Harvey sold 9,307 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $459,787.13. This represents a 52.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mary T. Barra sold 506,824 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $37,040,244.84. The trade was a 42.19 % 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 worth $56,509,286 over the last quarter. Corporate insiders own 0.72% of the company’s stock.

General Motors Trading Down 1.0 %

NYSE:GM opened at $55.04 on Tuesday. The firm has a market capitalization of $60.52 billion, a P/E ratio of 5.87, a P/E/G ratio of 0.42 and a beta of 1.42. General Motors has a 52 week low of $32.60 and a 52 week high of $61.24. 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 fifty day moving average of $51.56 and a 200 day moving average of $48.10.

General Motors (NYSE:GM) (TSE:GMM.U) last posted 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. The company had revenue of $48.76 billion during the quarter, compared to analyst estimates of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. General Motors’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.28 earnings per share. On average, research analysts predict that General Motors will post 10.35 earnings per share for the current year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Friday, December 6th. General Motors’s payout ratio is 5.12%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GM. Sanford C. Bernstein boosted their target price 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. Morgan Stanley downgraded General Motors from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $47.00 to $42.00 in a research note on Wednesday, September 25th. UBS Group boosted their price target on shares of General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Nomura Securities raised shares of General Motors to a “strong sell” rating in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. raised their price target on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, General Motors currently has an average rating of “Hold” and a consensus price target 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.