General Motors (NYSE:GM) Position Trimmed by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. reduced its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 0.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 424,374 shares of the auto manufacturer’s stock after selling 1,530 shares during the quarter. Asset Management One Co. Ltd.’s holdings in General Motors were worth $19,029,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. SJS Investment Consulting Inc. increased its holdings in shares of General Motors by 34.5% in the 2nd quarter. SJS Investment Consulting Inc. now owns 792 shares of the auto manufacturer’s stock worth $37,000 after acquiring an additional 203 shares during the period. Allworth Financial LP boosted its position in General Motors by 2.3% during the 3rd quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer’s stock worth $412,000 after acquiring an additional 205 shares during the period. Fortitude Family Office LLC grew its stake in shares of General Motors by 56.1% in the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after purchasing an additional 225 shares in the last quarter. SeaCrest Wealth Management LLC grew its position in General Motors by 3.5% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 6,804 shares of the auto manufacturer’s stock valued at $316,000 after buying an additional 227 shares in the last quarter. Finally, Institute for Wealth Management LLC. increased its stake in shares of General Motors by 0.6% during the second quarter. Institute for Wealth Management LLC. now owns 36,624 shares of the auto manufacturer’s stock valued at $1,702,000 after acquiring an additional 230 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Rory Harvey sold 9,307 shares of the company’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 sale, the executive vice president now owns 8,513 shares in the company, valued at approximately $459,787.13. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Rory Harvey sold 9,307 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total transaction of $502,671.07. Following the completion of the sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at approximately $459,787.13. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the transaction, the chief executive officer now owns 694,548 shares in the company, valued at $37,040,244.84. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 531,228 shares of company stock valued at $28,267,714 over the last three months. 0.72% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Sanford C. Bernstein increased their price target on General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. Nomura lowered General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price on the stock. in a report on Monday, August 5th. Morgan Stanley downgraded shares of General Motors from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $47.00 to $42.00 in a report on Wednesday, September 25th. The Goldman Sachs Group lifted their price objective on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Finally, StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $56.92.

General Motors Stock Performance

Shares of GM opened at $53.71 on Wednesday. The company has a market capitalization of $59.06 billion, a PE ratio of 5.73, a PEG ratio of 0.39 and a beta of 1.40. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. The company’s 50 day moving average price is $48.46 and its 200 day moving average price is $46.66. General Motors has a 52 week low of $26.30 and a 52 week high of $54.29.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, beating the consensus estimate of $2.49 by $0.47. The business had revenue of $48.76 billion for the quarter, compared to analysts’ expectations of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. General Motors’s revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.28 EPS. Research analysts expect that General Motors will post 10.34 EPS for the current fiscal year.

General Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend 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.