Minneapolis Portfolio Management Group LLC Sells 242,911 Shares of General Motors (NYSE:GM)

Minneapolis Portfolio Management Group LLC lowered its holdings in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 31.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 532,155 shares of the auto manufacturer's stock after selling 242,911 shares during the period. General Motors makes up 3.1% of Minneapolis Portfolio Management Group LLC's investment portfolio, making the stock its 21st largest position. Minneapolis Portfolio Management Group LLC's holdings in General Motors were worth $23,862,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in GM. Nvwm LLC raised its holdings in shares of General Motors by 1,036.2% during the third quarter. Nvwm LLC now owns 33,485 shares of the auto manufacturer's stock valued at $1,501,000 after acquiring an additional 30,538 shares in the last quarter. Van ECK Associates Corp raised its holdings in General Motors by 6.0% in the 3rd quarter. Van ECK Associates Corp now owns 35,384 shares of the auto manufacturer's stock worth $1,587,000 after acquiring an additional 2,015 shares during the last quarter. Fullcircle Wealth LLC lifted its holdings in shares of General Motors by 16.1% during the third quarter. Fullcircle Wealth LLC now owns 15,552 shares of the auto manufacturer's stock valued at $697,000 after purchasing an additional 2,159 shares in the last quarter. Chicago Partners Investment Group LLC lifted its stake in General Motors by 15.9% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 11,382 shares of the auto manufacturer's stock valued at $510,000 after acquiring an additional 1,559 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in General Motors by 20.4% in the third quarter. Farther Finance Advisors LLC now owns 6,021 shares of the auto manufacturer's stock worth $270,000 after purchasing an additional 1,019 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company's stock.

Insider Activity

In other news, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $47.31, for a total value of $108,907.62. Following the completion of the transaction, the executive vice president now directly owns 10,356 shares of the company's stock, valued at approximately $489,942.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other General Motors news, CEO Mary T. Barra sold 506,824 shares of the business's 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 transaction, the chief executive officer now owns 694,548 shares in the company, valued at $37,040,244.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Rory Harvey sold 2,302 shares of the stock in a transaction dated Friday, August 23rd. The shares were 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 in the company, valued at approximately $489,942.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 531,228 shares of company stock worth $28,267,714. 0.72% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on GM shares. The Goldman Sachs Group upped their price target on shares of General Motors from $53.00 to $61.00 and gave the stock a "buy" rating in a research report on Tuesday, October 1st. Royal Bank of Canada lifted their price objective on shares of General Motors from $58.00 to $65.00 and gave the company an "outperform" rating in a research report on Wednesday, October 23rd. Nomura lowered shares of General Motors from a "neutral" rating to a "reduce" rating and set a $34.00 target price for the company. in a research report on Monday, August 5th. Barclays lifted their price target on shares of General Motors from $64.00 to $70.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. Finally, StockNews.com cut shares of General Motors from a "buy" rating to a "hold" rating in a research note on Wednesday, July 24th. Four investment 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 company's stock. Based on data from MarketBeat.com, General Motors has a consensus rating of "Hold" and a consensus target price of $56.92.

General Motors Price Performance

General Motors stock traded up $0.20 during midday trading on Friday, reaching $50.96. The company's stock had a trading volume of 10,289,522 shares, compared to its average volume of 12,803,810. The firm has a market capitalization of $56.04 billion, a PE ratio of 5.43, a P/E/G ratio of 0.38 and a beta of 1.40. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $54.29. The stock's 50 day simple moving average is $48.31 and its 200 day simple moving average is $46.52. 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 (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping 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 business had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. During the same quarter in the previous year, the company earned $2.28 EPS. The company's quarterly revenue was up 10.5% on a year-over-year basis. On average, equities research analysts forecast that General Motors will post 10.34 earnings per share for the current year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 annualized dividend and a dividend yield of 0.94%. General Motors's payout ratio is currently 5.12%.

General Motors 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.