Miracle Mile Advisors LLC Boosts Stake in General Motors (NYSE:GM)

Miracle Mile Advisors LLC lifted its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 113.0% in the 4th quarter, HoldingsChannel reports. The fund owned 10,459 shares of the auto manufacturer’s stock after purchasing an additional 5,549 shares during the quarter. Miracle Mile Advisors LLC’s holdings in General Motors were worth $557,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in GM. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of General Motors by 972.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer’s stock worth $94,300,000 after purchasing an additional 1,906,964 shares in the last quarter. Jennison Associates LLC grew its stake in shares of General Motors by 123.1% during the third quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer’s stock worth $144,655,000 after acquiring an additional 1,779,897 shares during the last quarter. Artemis Investment Management LLP increased its holdings in shares of General Motors by 581.4% during the third quarter. Artemis Investment Management LLP now owns 1,601,856 shares of the auto manufacturer’s stock valued at $71,827,000 after acquiring an additional 1,366,768 shares in the last quarter. National Bank of Canada FI raised its position in shares of General Motors by 158.8% in the 3rd quarter. National Bank of Canada FI now owns 2,171,587 shares of the auto manufacturer’s stock valued at $97,374,000 after purchasing an additional 1,332,450 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its stake in General Motors by 6.1% in 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 purchasing an additional 989,750 shares in the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at General Motors

In related news, EVP Rory Harvey sold 9,307 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $54.01, for a total transaction of $502,671.07. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at $459,787.13. This trade represents a 52.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Craig B. Glidden sold 383,142 shares of General Motors stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the completion of the transaction, the executive vice president now owns 122,465 shares of the company’s stock, valued at $6,935,192.95. This trade represents a 75.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,030,475 shares of company stock worth $56,509,286 in the last 90 days. Insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Sanford C. Bernstein lifted their price objective on shares of General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday, October 25th. Hsbc Global Res cut General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Barclays upped their target price on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. UBS Group lifted their price objective on shares of General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Mizuho raised their target price on shares of General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, General Motors currently has a consensus rating of “Hold” and a consensus price target of $59.58.

General Motors Stock Performance

GM opened at $51.65 on Thursday. The firm has a market capitalization of $56.79 billion, a PE ratio of 5.51, a PEG ratio of 0.40 and a beta of 1.42. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24. General Motors has a twelve month low of $34.32 and a twelve month high of $61.24. The firm’s 50-day moving average price is $53.83 and its 200 day moving average price is $49.56.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data 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. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The company 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 posted $2.28 earnings per share. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, sell-side analysts expect that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, December 6th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.48 annualized dividend and a yield of 0.93%. General Motors’s 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.