Mackenzie Financial Corp raised its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 630.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 505,407 shares of the auto manufacturer’s stock after acquiring an additional 436,206 shares during the quarter. Mackenzie Financial Corp’s holdings in General Motors were worth $20,408,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. Berkshire Hathaway Inc. raised its stake 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 worth $2,095,800,000 after buying an additional 10,000,000 shares during the period. Swiss National Bank raised its stake in shares of General Motors by 1.2% during the 2nd quarter. Swiss National Bank now owns 4,925,857 shares of the auto manufacturer’s stock worth $172,060,000 after buying an additional 56,500 shares during the period. State of Tennessee Treasury Department raised its stake in shares of General Motors by 0.4% during the 2nd quarter. State of Tennessee Treasury Department now owns 825,599 shares of the auto manufacturer’s stock worth $28,839,000 after buying an additional 3,298 shares during the period. Intrust Bank NA raised its stake in shares of General Motors by 0.3% during the 2nd quarter. Intrust Bank NA now owns 7,174 shares of the auto manufacturer’s stock worth $250,000 after buying an additional 25 shares during the period. Finally, Commonwealth Bank of Australia raised its stake in shares of General Motors by 12.5% during the 2nd quarter. Commonwealth Bank of Australia now owns 739,220 shares of the auto manufacturer’s stock worth $25,819,000 after buying an additional 82,201 shares during the period. 73.06% of the stock is owned by institutional investors.
General Motors (NYSE:GM) traded down $0.65 on Thursday, hitting $42.15. The stock had a trading volume of 12,868,400 shares, compared to its average volume of 13,472,148. General Motors has a fifty-two week low of $31.92 and a fifty-two week high of $46.76. The stock has a market cap of $60,793.46, a P/E ratio of 6.91, a P/E/G ratio of 0.74 and a beta of 1.54. The company has a current ratio of 0.94, a quick ratio of 0.79 and a debt-to-equity ratio of 1.54.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Friday, December 8th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $1.52 dividend on an annualized basis and a yield of 3.61%. General Motors’s dividend payout ratio is presently 77.95%.
Several analysts recently commented on the company. Cascend Securities cut General Motors to a “buy” rating in a research report on Tuesday. Vetr cut General Motors from a “strong-buy” rating to a “hold” rating and set a $43.99 target price for the company. in a report on Monday. Barclays restated an “overweight” rating and issued a $57.00 target price (up from $55.00) on shares of General Motors in a report on Friday, December 1st. Morgan Stanley restated a “hold” rating and issued a $43.00 target price on shares of General Motors in a report on Tuesday, November 28th. Finally, Bank of America restated a “buy” rating and issued a $57.00 target price on shares of General Motors in a report on Tuesday, November 28th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $43.70.
In other General Motors news, insider Barry L. Engle II sold 50,443 shares of General Motors stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $43.08, for a total value of $2,173,084.44. Following the transaction, the insider now directly owns 57,091 shares in the company, valued at approximately $2,459,480.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nysschen Carel J. De sold 123,645 shares of General Motors 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 transaction, the executive vice president now owns 150,484 shares in the company, valued at $6,710,081.56. The disclosure for this sale can be found here. Insiders have sold a total of 1,021,565 shares of company stock worth $42,801,037 in the last 90 days. 0.04% of the stock is currently owned by company insiders.
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General Motors 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.
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