Nuveen LLC Acquires New Position in General Motors Company (NYSE:GM)

Key Points

• Nuveen LLC acquired approximately 3,739,935 shares of General Motors in the first quarter, representing a total investment of about $175,889,000, making up 0.39% of the company's outstanding shares.
• General Motors reported a quarterly earnings per share (EPS) of $2.53, beating the consensus estimate of $2.52, while its revenue of $47.12 billion also exceeded expectations.
• The company declared a quarterly dividend of $0.15 per share, with an upcoming payment date set for September 18th, offering a 1.1% dividend yield.

Nuveen LLC acquired a new stake in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,739,935 shares of the auto manufacturer's stock, valued at approximately $175,889,000. Nuveen LLC owned approximately 0.39% of General Motors as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in GM. Measured Risk Portfolios Inc. bought a new stake in shares of General Motors during the fourth quarter valued at approximately $27,000. Costello Asset Management INC bought a new position in shares of General Motors in the first quarter worth approximately $32,000. Transce3nd LLC bought a new position in shares of General Motors during the 4th quarter valued at about $34,000. North Capital Inc. bought a new position in General Motors during the 1st quarter worth approximately $40,000. Finally, Ossiam bought a new position in shares of General Motors during the fourth quarter valued at approximately $44,000. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Stock Down 0.2%

Shares of General Motors stock traded down $0.11 during midday trading on Friday, reaching $56.31. 5,594,331 shares of the company's stock traded hands, compared to its average volume of 9,995,043. General Motors Company has a 52 week low of $41.60 and a 52 week high of $61.24. The company's 50 day simple moving average is $51.70 and its 200 day simple moving average is $48.92. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.05 and a current ratio of 1.22. The company has a market cap of $53.61 billion, a price-to-earnings ratio of 8.94, a price-to-earnings-growth ratio of 1.19 and a beta of 1.36.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.01. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The firm had revenue of $47.12 billion during the quarter, compared to the consensus estimate of $45.87 billion. During the same period last year, the firm posted $3.06 EPS. The firm's quarterly revenue was down 1.8% on a year-over-year basis. Equities analysts expect that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, September 5th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, September 5th. General Motors's dividend payout ratio is 9.52%.

Insider Buying and Selling at General Motors

In related news, EVP Rory Harvey sold 23,977 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $53.01, for a total value of $1,271,020.77. Following the transaction, the executive vice president directly owned 8,513 shares in the company, valued at approximately $451,274.13. This represents a 73.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Christopher Hatto sold 36,804 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $55.10, for a total transaction of $2,027,900.40. Following the sale, the chief accounting officer owned 12,007 shares in the company, valued at $661,585.70. The trade was a 75.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on GM shares. Wells Fargo & Company lifted their price objective on General Motors from $34.00 to $38.00 and gave the company an "underweight" rating in a research note on Wednesday, July 23rd. UBS Group upped their price target on General Motors from $50.00 to $56.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. BNP Paribas raised General Motors to a "strong-buy" rating in a research note on Monday, May 5th. Sanford C. Bernstein set a $36.00 price objective on General Motors in a research note on Monday, May 5th. Finally, JPMorgan Chase & Co. raised their price target on General Motors from $56.00 to $60.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $57.53.

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.