Franklin Resources Inc. Decreases Stake in General Motors (NYSE:GM)

Franklin Resources Inc. lowered its position in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 4.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,102,320 shares of the auto manufacturer's stock after selling 1,347,840 shares during the quarter. Franklin Resources Inc. owned approximately 2.56% of General Motors worth $1,383,769,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Synovus Financial Corp boosted its stake in shares of General Motors by 125.0% during the third quarter. Synovus Financial Corp now owns 45,803 shares of the auto manufacturer's stock valued at $2,054,000 after purchasing an additional 25,443 shares in the last quarter. Tidal Investments LLC lifted its holdings in General Motors by 44.7% during the third quarter. Tidal Investments LLC now owns 65,389 shares of the auto manufacturer's stock worth $2,932,000 after buying an additional 20,206 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in General Motors during the 3rd quarter valued at $1,907,000. World Investment Advisors LLC purchased a new position in shares of General Motors in the 3rd quarter valued at $237,000. Finally, Sanctuary Advisors LLC raised its position in shares of General Motors by 8.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 330,703 shares of the auto manufacturer's stock worth $14,829,000 after acquiring an additional 26,954 shares in the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

General Motors Stock Performance

Shares of GM traded up $0.23 during mid-day trading on Friday, reaching $52.53. The company had a trading volume of 8,747,859 shares, compared to its average volume of 14,724,979. General Motors has a 52-week low of $34.32 and a 52-week high of $61.24. The stock has a market capitalization of $57.76 billion, a P/E ratio of 5.60, a PEG ratio of 0.39 and a beta of 1.42. The stock has a 50 day moving average of $52.86 and a two-hundred day moving average of $48.58. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 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 for the quarter, compared to analysts' expectations of $44.67 billion. During the same quarter last year, the company earned $2.28 EPS. The business's revenue was up 10.5% on a year-over-year basis. On average, analysts expect that General Motors will post 10.35 earnings per share for the current year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Friday, December 6th. General Motors's dividend payout ratio (DPR) is presently 5.12%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on GM shares. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $53.00 target price on shares of General Motors in a research note on Tuesday, September 10th. Hsbc Global Res lowered shares of General Motors from a "strong-buy" rating to a "hold" rating in a research note on Wednesday. Wolfe Research initiated coverage on shares of General Motors in a research note on Thursday, September 5th. They issued a "peer perform" rating for the company. 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 report on Wednesday, October 23rd. Finally, HSBC lowered General Motors from a "buy" rating to a "hold" rating and set a $58.00 price objective for the company. in a report on Wednesday. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $58.85.

Insider Activity

In related news, EVP Craig B. Glidden sold 383,142 shares of the company's stock in a transaction dated 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 in the company, valued at $6,935,192.95. This represents a 75.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Rory Harvey sold 8,919 shares of General Motors stock in a transaction dated 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 sale, the executive vice president now owns 8,513 shares in the company, valued at approximately $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 have sold 1,030,475 shares of company stock worth $56,509,286 in the last ninety days. Company insiders own 0.72% of the company's stock.

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.