Daiwa Securities Group Inc. Trims Stock Position in General Motors (NYSE:GM)

Daiwa Securities Group Inc. lessened its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 166,864 shares of the auto manufacturer’s stock after selling 1,605 shares during the period. Daiwa Securities Group Inc.’s holdings in General Motors were worth $7,482,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL acquired a new stake in General Motors in the second quarter valued at $25,000. Catalyst Capital Advisors LLC purchased a new stake in General Motors in the 3rd quarter valued at approximately $27,000. Wellington Shields Capital Management LLC acquired a new stake in shares of General Motors during the 2nd quarter valued at approximately $28,000. Fortitude Family Office LLC lifted its position in shares of General Motors by 56.1% during the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after acquiring an additional 225 shares during the period. Finally, EdgeRock Capital LLC acquired a new stake in shares of General Motors during the 2nd quarter valued at approximately $33,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at General Motors

In related news, President Mark L. Reuss sold 122,283 shares of General Motors stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the completion of the transaction, the president now directly owns 126,907 shares of the company’s stock, valued at $7,000,190.12. This trade represents a 49.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Craig B. Glidden sold 383,142 shares of General Motors stock in a transaction dated 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 transaction, the executive vice president now directly owns 122,465 shares of the company’s stock, valued at $6,935,192.95. This represents a 75.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,021,556 shares of company stock worth $55,974,057. 0.72% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on GM shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $53.00 price objective on shares of General Motors in a research report on Tuesday, September 10th. Wells Fargo & Company boosted their price objective on shares of General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a research note on Wednesday, October 23rd. Nomura cut shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target for the company. in a research report on Monday, August 5th. Barclays boosted their price objective on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, Wolfe Research started coverage on shares of General Motors in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, General Motors has an average rating of “Hold” and an average price target of $56.92.

General Motors Stock Up 2.9 %

GM stock opened at $60.20 on Tuesday. General Motors has a 12-month low of $27.93 and a 12-month high of $61.24. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. The company has a market cap of $66.20 billion, a price-to-earnings ratio of 6.42, a PEG ratio of 0.44 and a beta of 1.40. The company has a 50 day moving average of $51.01 and a two-hundred day moving average of $47.82.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The company had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. During the same quarter in the prior year, the firm earned $2.28 EPS. The company’s revenue was up 10.5% compared to the same quarter last year. On average, equities analysts anticipate that General Motors will post 10.35 earnings per share for the current fiscal year.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.80%. General Motors’s payout ratio is presently 5.12%.

General Motors Company 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.