General Motors (NYSE:GM) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lowered its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 24.3% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 878,665 shares of the auto manufacturer’s stock after selling 282,227 shares during the period. Intech Investment Management LLC owned approximately 0.08% of General Motors worth $39,399,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Strategic Investment Solutions Inc. IL purchased a new position in General Motors in the 2nd quarter valued at approximately $25,000. Catalyst Capital Advisors LLC purchased a new position in General Motors in the 3rd quarter valued at approximately $27,000. Wellington Shields Capital Management LLC purchased a new position in General Motors in the 2nd quarter valued at approximately $28,000. Fortitude Family Office LLC raised its holdings in shares of General Motors by 56.1% in the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after purchasing an additional 225 shares in the last quarter. Finally, EdgeRock Capital LLC acquired a new stake in shares of General Motors in the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Stock Down 0.4 %

GM stock opened at $54.88 on Thursday. The company has a market cap of $60.35 billion, a P/E ratio of 5.85, a P/E/G ratio of 0.42 and a beta of 1.40. General Motors has a 52 week low of $27.70 and a 52 week high of $59.39. The company’s 50-day moving average price is $50.31 and its 200 day moving average price is $47.53. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $44.67 billion. During the same quarter in the prior year, the firm earned $2.28 earnings per share. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, research analysts expect that General Motors will post 10.35 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Friday, December 6th. General Motors’s dividend payout ratio (DPR) is presently 5.12%.

Insider Buying and Selling at General Motors

In related news, EVP Craig B. Glidden sold 383,142 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 122,465 shares of the company’s stock, valued at approximately $6,935,192.95. This represents a 75.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Mark L. Reuss sold 122,283 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following 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 disclosure for this sale can be found here. Insiders have sold 1,036,653 shares of company stock valued at $56,710,175 over the last quarter. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Barclays lifted their price target on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group lifted their price target 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. Wells Fargo & Company lifted their price target on shares of General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada lifted their price target on shares of General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $56.92.

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.