Nordea Investment Management AB Sells 30,335 Shares of General Motors (NYSE:GM)

Nordea Investment Management AB cut its holdings in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 33.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,243 shares of the auto manufacturer's stock after selling 30,335 shares during the period. Nordea Investment Management AB's holdings in General Motors were worth $3,233,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of General Motors by 972.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer's stock worth $94,300,000 after buying an additional 1,906,964 shares during the last quarter. Jennison Associates LLC boosted its holdings in General Motors by 123.1% during the third quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer's stock valued at $144,655,000 after acquiring an additional 1,779,897 shares during the period. Artemis Investment Management LLP grew its position in shares of General Motors by 581.4% in the third quarter. Artemis Investment Management LLP now owns 1,601,856 shares of the auto manufacturer's stock valued at $71,827,000 after purchasing an additional 1,366,768 shares during the last quarter. National Bank of Canada FI lifted its position in shares of General Motors by 158.8% during the 3rd quarter. National Bank of Canada FI now owns 2,171,587 shares of the auto manufacturer's stock worth $97,374,000 after purchasing an additional 1,332,450 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in General Motors by 9.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer's stock valued at $600,291,000 after purchasing an additional 1,091,137 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at General Motors

In other General Motors news, EVP Rory Harvey sold 9,307 shares of the company's stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total transaction of $502,671.07. Following the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at approximately $459,787.13. This represents a 52.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the sale, the chief executive officer now owns 694,548 shares of the company's stock, valued at approximately $37,040,244.84. This represents a 42.19 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,030,475 shares of company stock worth $56,509,286. 0.72% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GM. HSBC lowered General Motors from a "buy" rating to a "hold" rating and set a $58.00 price target for the company. in a report on Wednesday, December 11th. UBS Group raised their price target on shares of General Motors from $58.00 to $62.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Wells Fargo & Company cut their price objective on shares of General Motors from $38.00 to $35.00 and set an "underweight" rating for the company in a research report on Monday, December 16th. Royal Bank of Canada lifted their target price on General Motors from $58.00 to $65.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. Finally, Wedbush boosted their price target on General Motors from $55.00 to $60.00 and gave the company an "outperform" rating in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, General Motors currently has an average rating of "Hold" and a consensus price target of $59.58.

General Motors Price Performance

General Motors stock traded down $1.15 during trading hours on Friday, hitting $49.85. 7,845,355 shares of the stock were exchanged, compared to its average volume of 8,788,674. General Motors has a 12 month low of $34.32 and a 12 month high of $61.24. The business's 50-day moving average is $53.93 and its two-hundred day moving average is $49.47. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. The stock has a market capitalization of $54.81 billion, a P/E ratio of 5.31, a P/E/G ratio of 0.40 and a beta of 1.42.

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

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, December 6th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date was Friday, December 6th. General Motors's dividend 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.