AustralianSuper Pty Ltd reduced its stake in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 4.8% during the third quarter, according to its most recent filing with the SEC. The fund owned 3,239,591 shares of the auto manufacturer's stock after selling 164,117 shares during the quarter. AustralianSuper Pty Ltd owned 0.29% of General Motors worth $145,263,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in GM. SJS Investment Consulting Inc. lifted its holdings in General Motors by 34.5% during the second quarter. SJS Investment Consulting Inc. now owns 792 shares of the auto manufacturer's stock valued at $37,000 after purchasing an additional 203 shares during the last quarter. Allworth Financial LP lifted its holdings in General Motors by 2.3% during the third quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer's stock valued at $412,000 after purchasing an additional 205 shares during the last quarter. Fortitude Family Office LLC lifted its holdings in General Motors by 56.1% during the second 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 during the last quarter. SeaCrest Wealth Management LLC lifted its holdings in General Motors by 3.5% during the second quarter. SeaCrest Wealth Management LLC now owns 6,804 shares of the auto manufacturer's stock valued at $316,000 after purchasing an additional 227 shares during the last quarter. Finally, Institute for Wealth Management LLC. lifted its holdings in General Motors by 0.6% during the second quarter. Institute for Wealth Management LLC. now owns 36,624 shares of the auto manufacturer's stock valued at $1,702,000 after purchasing an additional 230 shares during the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.
General Motors Stock Down 2.3 %
General Motors stock traded down $1.20 on Thursday, hitting $50.77. 9,362,276 shares of the stock traded hands, compared to its average volume of 15,052,633. General Motors has a 1 year low of $26.30 and a 1 year high of $54.29. The company has a current ratio of 1.21, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. The business's fifty day simple moving average is $48.17 and its 200 day simple moving average is $46.37. The firm has a market cap of $55.83 billion, a P/E ratio of 5.54, a price-to-earnings-growth ratio of 0.60 and a beta of 1.42.
General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its quarterly 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. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The firm had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. During the same period last year, the company earned $2.28 earnings per share. The company's revenue was up 10.5% on a year-over-year basis. As a group, sell-side analysts forecast that General Motors will post 10.05 earnings per share for the current year.
General Motors Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, December 6th. This represents a $0.48 annualized dividend and a dividend yield of 0.95%. General Motors's payout ratio is presently 5.12%.
Insider Buying and Selling
In related news, CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the sale, the chief executive officer now directly owns 694,548 shares in the company, valued at approximately $37,040,244.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other General Motors news, EVP Rory Harvey sold 2,302 shares of the firm's stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total value of $108,907.62. Following the transaction, the executive vice president now directly owns 10,356 shares of the company's stock, valued at approximately $489,942.36. This trade represents a 0.00 % 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, CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total value of $27,028,923.92. Following the transaction, the chief executive officer now directly owns 694,548 shares in the company, valued at approximately $37,040,244.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 531,228 shares of company stock worth $28,267,714. 0.72% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
GM has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $53.00 price objective on shares of General Motors in a report on Tuesday, September 10th. Morgan Stanley cut shares of General Motors from an "equal weight" rating to an "underweight" rating and decreased their price objective for the stock from $47.00 to $42.00 in a research report on Wednesday, September 25th. Royal Bank of Canada upped their price objective on shares of General Motors from $58.00 to $65.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. Wells Fargo & Company upped their price objective on shares of General Motors from $33.00 to $38.00 and gave the stock an "underweight" rating in a research report on Wednesday, October 23rd. Finally, Sanford C. Bernstein increased their price target on shares of General Motors from $53.00 to $55.00 and gave the company a "market perform" rating in a research report on Friday, October 25th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $56.92.
Check Out Our Latest Report on General Motors
About General Motors
(
Free Report)
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.
Further Reading
Before you consider General Motors, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and General Motors wasn't on the list.
While General Motors currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Keep reading to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
