Swiss National Bank Sells 33,000 Shares of General Motors (NYSE:GM)

Swiss National Bank reduced its position in General Motors (NYSE:GM) (TSE:GMM.U) by 1.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,385,000 shares of the auto manufacturer’s stock after selling 33,000 shares during the period. Swiss National Bank owned approximately 0.31% of General Motors worth $151,783,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Chicago Partners Investment Group LLC lifted its holdings in shares of General Motors by 15.9% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 11,382 shares of the auto manufacturer’s stock worth $510,000 after purchasing an additional 1,559 shares in the last quarter. Donald Smith & CO. Inc. raised its position in General Motors by 12.1% in the 3rd quarter. Donald Smith & CO. Inc. now owns 1,629,573 shares of the auto manufacturer’s stock valued at $73,070,000 after buying an additional 175,860 shares during the last quarter. Foster & Motley Inc. raised its position in General Motors by 121.5% in the 3rd quarter. Foster & Motley Inc. now owns 47,169 shares of the auto manufacturer’s stock valued at $2,115,000 after buying an additional 25,869 shares during the last quarter. Stoneridge Investment Partners LLC raised its position in General Motors by 115.1% in the 3rd quarter. Stoneridge Investment Partners LLC now owns 178,443 shares of the auto manufacturer’s stock valued at $8,001,000 after buying an additional 95,484 shares during the last quarter. Finally, Olstein Capital Management L.P. raised its position in General Motors by 14.9% in the 3rd quarter. Olstein Capital Management L.P. now owns 162,000 shares of the auto manufacturer’s stock valued at $7,264,000 after buying an additional 21,000 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on GM. Wells Fargo & Company increased their price target on General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a research report on Wednesday, October 23rd. Nomura Securities raised General Motors to a “strong sell” rating in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $53.00 price target on shares of General Motors in a research report on Tuesday, September 10th. UBS Group raised their target price on General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Nomura lowered General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price for the company. in a research report on Monday, August 5th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, General Motors currently has an average rating of “Hold” and a consensus price target of $56.92.

General Motors Trading Down 1.0 %

Shares of GM opened at $57.04 on Monday. The business has a 50-day moving average of $49.72 and a 200 day moving average of $47.32. General Motors has a fifty-two week low of $27.42 and a fifty-two week high of $59.39. The firm has a market cap of $62.72 billion, a P/E ratio of 6.08, a price-to-earnings-growth ratio of 0.43 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.

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

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be paid a $0.12 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.48 annualized dividend and a yield of 0.84%. General Motors’s dividend payout ratio is currently 5.12%.

Insiders Place Their Bets

In other General Motors news, EVP Rory Harvey sold 2,302 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total value of $108,907.62. Following the completion of the transaction, the executive vice president now owns 10,356 shares in the company, valued at $489,942.36. This trade represents a 18.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total value of $27,028,923.92. Following the sale, the chief executive officer now owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. This trade represents a 42.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 653,511 shares of company stock worth $35,012,844 in the last quarter. 0.72% of the stock is owned by company insiders.

About General Motors

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.