Perpetual Ltd reduced its position in General Motors (NYSE:GM – Free Report) (TSE:GMM.U) by 3.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 43,799 shares of the auto manufacturer’s stock after selling 1,761 shares during the period. Perpetual Ltd’s holdings in General Motors were worth $1,964,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL purchased a new position in shares of General Motors during the second quarter valued at approximately $25,000. Wellington Shields Capital Management LLC purchased a new stake in General Motors during the 2nd quarter valued at $28,000. Fortitude Family Office LLC lifted its holdings 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 buying an additional 225 shares during the period. Montag A & Associates Inc. purchased a new position in shares of General Motors in the 1st quarter worth $30,000. Finally, EdgeRock Capital LLC bought a new stake in shares of General Motors in the second quarter worth $33,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
GM has been the topic of a number of recent research reports. Wedbush reissued an “outperform” rating and issued a $55.00 target price on shares of General Motors in a report on Wednesday. Nomura Securities upgraded shares of General Motors to a “strong sell” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. increased their price target on shares of General Motors from $60.00 to $61.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. The Goldman Sachs Group boosted their price objective on shares of General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Finally, StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $55.47.
Insider Buying and Selling at General Motors
In related news, EVP Rory Harvey sold 12,795 shares of General Motors stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $49.02, for a total value of $627,210.90. Following the completion of the transaction, the executive vice president now owns 8,513 shares in the company, valued at approximately $417,307.26. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other General Motors news, EVP Rory Harvey sold 12,795 shares of General Motors stock in a transaction on Monday, August 26th. The shares were sold at an average price of $49.02, for a total transaction of $627,210.90. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $417,307.26. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Paul A. Jacobson bought 25,000 shares of General Motors stock in a transaction dated Friday, July 26th. The stock was purchased at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the purchase, the chief financial officer now owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.72% of the stock is owned by company insiders.
General Motors Stock Down 0.5 %
GM opened at $47.69 on Friday. The company has a market capitalization of $53.60 billion, a PE ratio of 5.36, a price-to-earnings-growth ratio of 0.56 and a beta of 1.42. The firm has a 50-day simple moving average of $46.05 and a two-hundred day simple moving average of $45.74. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. General Motors has a 52 week low of $26.30 and a 52 week high of $50.50.
General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.67 by $0.39. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The company had revenue of $47.97 billion during the quarter, compared to analyst estimates of $45.13 billion. During the same period in the prior year, the company earned $1.91 earnings per share. The firm’s revenue was up 7.2% on a year-over-year basis. Analysts forecast that General Motors will post 9.95 earnings per share for the current fiscal year.
General Motors Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Friday, September 6th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date was Friday, September 6th. General Motors’s payout ratio is 5.39%.
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.
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