US pickup trucks, crossovers help GM swing to quarterly profit

Irving Hamilton
February 8, 2019

General Motors (GM) sold 3.65 million vehicles a year ago in China, which retained the title of the biggest market for the leading US auto maker. The institutional investor owned 314,204 shares of the auto manufacturer's stock after purchasing an additional 8,602 shares during the quarter. Finally, Supplemental Annuity Collective Trust of NJ grew its holdings in General Motors by 27.3% during the 4th quarter.

According to the press release, USA hourly workers have earned more than $80,500 in profit sharing payments, and the company says it's time to spread the wealth.

A number of other research analysts have also recently issued reports on GM.

According to CNBC, Barra used today's fourth quarter and year-end earnings call to reveal the company's electric vehicles won't return a profit until "early next decade". Finally, Ontario Teachers Pension Plan Board increased its holdings in General Motors by 62.6% in the 3rd quarter. Cornerstone Advisors Inc. increased its stake in General Motors by 63.0% in the fourth quarter. Kingstown Capital Management L.P. now owns 1,600,000 shares of the auto manufacturer's stock valued at $53,872,000 after acquiring an additional 100,000 shares during the period. Capital World Investors lifted its holdings in shares of General Motors by 15.4% during the third quarter. First Hawaiian Bank now owns 9,142 shares of the auto manufacturer's stock worth $306,000 after purchasing an additional 524 shares during the last quarter. Institutional investors own 75.55% of the company's stock.

General Motors shares closed higher for a third consecutive trading session in NY on Wednesday. The company's average trading volume now stands at 18.20M shares, which means that the short-interest ratio is just 1.63 days. The firm has a market cap of $55.47 billion, a PE ratio of 6.03, a PEG ratio of 0.74 and a beta of 1.26. GM 52-week low price stands at $30.56 while its 52-week high price is $45.00.

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General Motors Company (NYSE:GM)'s price to sales ratio for trailing twelve month stands at 0.37, whereas its price to book ratio for the most recent quarters is at 1.46. The auto manufacturer reported $1.43 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $1.21 by $0.22.

EBIT-adjusted margin of 8.0% was down 0.8 percentage points. Analysts expect that General Motors will post 6.3 EPS for the current year. "GM delivered another strong year of earnings in a highly volatile environment in 2018", GM Chief Executive Mary Barra said in a statement.

The automaker did report that pretax profit resulted in $2.8 billion, or $1.43 a share, which bested the average analysts' estimate of $1.24 a share.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 22nd. This represents a $1.52 annualized dividend and a yield of 3.80%. General Motors's dividend payout ratio is 22.96%. BerganKDV Wealth Management LLC lifted its holdings in shares of General Motors by 21.0% in the 4th quarter. The stock has an average rating of "Buy" and a consensus price target of $45.68. Zacks Investment Research cut shares of General Motors from a "buy" rating to a "hold" rating in a research note on Thursday, November 15th. The stock went up 1.55% ($0.61) to $39.91, after touching an intraday high at $40.70, or a price level not seen since June 29th 2018 ($40.80). If you are viewing this story on another site, it was illegally copied and reposted in violation of worldwide copyright laws.

TRADEMARK VIOLATION WARNING: This story was posted by Baseball Daily News and is the sole property of of Baseball Daily News. The original version of this news story can be read at https://www.modernreaders.com/news/2019/02/06/wilsey-asset-management-inc-buys-8602-shares-of-general-motors-gm.html. Most of the employees that will lose their jobs are from GM's plants in North America.

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