General Motors (NYSE:GM) Shares Sold by Mount Lucas Management LP

Mount Lucas Management LP decreased its stake in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 60.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,258 shares of the auto manufacturer's stock after selling 28,998 shares during the quarter. Mount Lucas Management LP's holdings in General Motors were worth $864,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL acquired a new position in shares of General Motors during the 2nd quarter worth about $25,000. Catalyst Capital Advisors LLC acquired a new stake in General Motors during the 3rd quarter worth approximately $27,000. Wellington Shields Capital Management LLC acquired a new stake in General Motors during the 2nd quarter worth approximately $28,000. Fortitude Family Office LLC lifted its position in General Motors by 56.1% during the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer's stock worth $29,000 after acquiring an additional 225 shares during the period. Finally, EdgeRock Capital LLC acquired a new stake in General Motors during the 2nd quarter worth approximately $33,000. Hedge funds and other institutional investors own 92.67% of the company's stock.

Insiders Place Their Bets

In related news, EVP Rory Harvey sold 9,307 shares of the firm's stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $54.01, for a total value of $502,671.07. Following the sale, the executive vice president now directly owns 8,513 shares in the company, valued at $459,787.13. This trade represents a 52.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Mark L. Reuss sold 122,283 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total value of $6,745,130.28. Following the completion of the sale, the president now owns 126,907 shares in the company, valued at approximately $7,000,190.12. This represents a 49.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 653,511 shares of company stock valued at $35,012,844 in the last quarter. Insiders own 0.72% of the company's stock.

Wall Street Analyst Weigh In

GM has been the subject of a number of analyst reports. Morgan Stanley downgraded General Motors from an "equal weight" rating to an "underweight" rating and cut their target price for the stock from $47.00 to $42.00 in a research note on Wednesday, September 25th. The Goldman Sachs Group increased their target price on General Motors from $53.00 to $61.00 and gave the stock a "buy" rating in a research note on Tuesday, October 1st. Royal Bank of Canada raised their price objective on General Motors from $58.00 to $65.00 and gave the company an "outperform" rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $53.00 price objective on shares of General Motors in a research note on Tuesday, September 10th. Finally, UBS Group raised their price objective on General Motors from $58.00 to $62.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Four investment 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. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $56.92.

General Motors Stock Down 1.0 %

Shares of GM stock traded down $0.58 during trading hours on Friday, reaching $57.04. The company had a trading volume of 12,624,965 shares, compared to its average volume of 13,206,090. The stock's fifty day simple moving average is $49.72 and its 200 day simple moving average is $47.30. The company has a market capitalization 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 has a twelve month low of $27.42 and a twelve month high of $59.39.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.47. The company had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The company's revenue was up 10.5% on a year-over-year basis. During the same period last year, the firm earned $2.28 earnings per share. As a group, sell-side analysts expect that General Motors will post 10.35 earnings per share for the current fiscal year.

General Motors Dividend Announcement

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 paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Friday, December 6th. General Motors's payout ratio is currently 5.12%.

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.