Chief Executive Officer Mary Barra moved in November to eliminate 14,000 jobs and potentially shut seven plants worldwide. Nikko Asset Management Americas Inc. increased its holdings in General Motors by 21.6% in the 3rd quarter.
Currently General Motors Company (NYSE:GM)'s shares owned by insiders are 7.22%, whereas shares owned by institutional owners are 77.7%. Providence Capital Advisors LLC's holdings in General Motors were worth $998,000 at the end of the most recent quarter. Cambridge Investment Research Advisors Inc. now owns 129,361 shares of the auto manufacturer's stock valued at $4,356,000 after purchasing an additional 11,139 shares during the last quarter.
The stronger-than-expected fourth-quarter profit, driven by strong US results, stood in contrast to the job cuts GM has begun to make in its salaried and hourly workforces. Finally, Vanguard Group Inc lifted its holdings in shares of General Motors by 2.9% during the third quarter. Cornerstone Advisors Inc. now owns 895 shares of the auto manufacturer's stock worth $30,000 after acquiring an additional 346 shares in the last quarter. So far the company has made good on that promise, but some investors are still cautious, if not skeptical the company can maintain that momentum. However the company's price to cash per share for most recent quarter stands at 17.47. The stock was given Overweight rating by Piper Jaffray in its report released on May 15th, 2018, the day when the price target on the stock was placed at $57. Royal Bank of Canada increased their price target on General Motors from $45.00 to $50.00 and gave the company an "outperform" rating in a report on Monday, January 14th. Barclays set a $48.00 target price on shares of General Motors and gave the stock a "buy" rating in a research note on Friday, January 4th. Finally, Nomura dropped coverage on General Motors in a research note on Tuesday, November 6th. As per Zacks simplified descending rating scale the ABR rank is displayed in the range of 1 to 5 where 1 represents Strong Buy and 5 a Strong Sell. The firm now has a hold rating on the auto manufacturer's stock.
Total North America vehicle sales dipped 4.2% to 917,000 but GM's bottom line was boosted by pickup truck sales, which are a profitable and growing share of its product lineup. 5,474,409 shares of the company's stock traded hands, compared to its average volume of 11,155,458. General Motors Company debt-to-equity ratio now stands at 2.69, while its quick ratio hovers at 0.80. General Motors has a 52 week low of $30.56 and a 52 week high of $45.00.
CFO 's Dhivya Suryadevara said higher commodity costs in 2018, which partly stemmed from the effect of tariffs on steel and aluminum, hurt the company's bottom line a year ago by more than $1 billion. The auto manufacturer reported $1.43 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $1.21 by $0.22. General Motors Company (NYSE:GM) has a current PEG of 0.46. The company had revenue of $38.40 billion during the quarter, compared to the consensus estimate of $36.31 billion. The firm's revenue for the quarter was up 1.8% on a year-over-year basis.
Auto maker General Motors has been profitable a year ago. Shareholders of record on Friday, March 8th will be paid a $0.38 dividend.
General Motors' dividend forecast is that profit could rise to $10 billion.