Fmr LLC Sells 1,028,989 Shares of General Motors (NYSE:GM)

Fmr LLC lessened its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 5.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,278,107 shares of the auto manufacturer’s stock after selling 1,028,989 shares during the period. Fmr LLC owned 1.75% of General Motors worth $864,430,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Silvercrest Asset Management Group LLC boosted its position in shares of General Motors by 7.1% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 7,094 shares of the auto manufacturer’s stock valued at $322,000 after purchasing an additional 473 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its stake in shares of General Motors by 35.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 36,493 shares of the auto manufacturer’s stock valued at $1,655,000 after acquiring an additional 9,460 shares in the last quarter. LRI Investments LLC acquired a new position in shares of General Motors during the 1st quarter valued at $34,000. Atria Investments Inc boosted its stake in General Motors by 0.7% during the first quarter. Atria Investments Inc now owns 252,561 shares of the auto manufacturer’s stock worth $11,454,000 after acquiring an additional 1,673 shares in the last quarter. Finally, Invst LLC acquired a new stake in General Motors in the first quarter worth $910,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insiders Place Their Bets

In other General Motors news, EVP Craig B. Glidden sold 383,142 shares of the business’s stock in a transaction on 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 sale, the executive vice president now owns 122,465 shares of the company’s stock, valued at $6,935,192.95. The trade was a 75.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Rory Harvey sold 8,919 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $60.01, for a total value of $535,229.19. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $510,865.13. The trade was a 51.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,030,475 shares of company stock valued at $56,509,286 over the last ninety days. 0.72% of the stock is currently owned by insiders.

General Motors Trading Up 1.3 %

Shares of General Motors stock opened at $55.50 on Thursday. The firm has a market cap of $61.03 billion, a PE ratio of 5.92, a P/E/G ratio of 0.45 and a beta of 1.40. General Motors has a 1 year low of $28.33 and a 1 year high of $61.24. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. The stock has a fifty day moving average price of $51.29 and a 200-day moving average price of $47.94.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data 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 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 posted $2.28 earnings per share. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. Equities research analysts anticipate that General Motors will post 10.35 EPS for the current year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio (DPR) is 5.12%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on GM shares. Royal Bank of Canada upped their price objective on shares of General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. increased their price target on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Wells Fargo & Company boosted their price objective on General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a report on Wednesday, October 23rd. UBS Group lifted their price target on shares of General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Sanford C. Bernstein upped their price objective on shares of General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a report on Friday, October 25th. Four analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $56.92.

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.