General Motors (NYSE:GM) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. decreased its holdings in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 14.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,215,830 shares of the auto manufacturer's stock after selling 212,518 shares during the quarter. General Motors makes up 0.7% of Oppenheimer Asset Management Inc.'s investment portfolio, making the stock its 24th biggest holding. Oppenheimer Asset Management Inc. owned approximately 0.11% of General Motors worth $54,518,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Atomi Financial Group Inc. purchased a new position in General Motors in the 1st quarter valued at approximately $244,000. US Bancorp DE increased its position in shares of General Motors by 1.6% during the first quarter. US Bancorp DE now owns 88,246 shares of the auto manufacturer's stock valued at $4,002,000 after buying an additional 1,358 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of General Motors by 7.8% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 959,085 shares of the auto manufacturer's stock valued at $43,494,000 after buying an additional 69,017 shares during the period. State Board of Administration of Florida Retirement System increased its position in shares of General Motors by 7.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 1,592,324 shares of the auto manufacturer's stock valued at $72,212,000 after buying an additional 106,244 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in General Motors by 12.6% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,625,725 shares of the auto manufacturer's stock worth $73,727,000 after purchasing an additional 182,433 shares during the period. Institutional investors own 92.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Royal Bank of Canada increased 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 cut shares of General Motors from a "neutral" rating to a "reduce" rating and set a $34.00 price objective for the company. in a research note on Monday, August 5th. Barclays lifted their price objective 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. Wells Fargo & Company boosted their price target on shares of General Motors from $33.00 to $38.00 and gave the company an "underweight" rating in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $53.00 target price on shares of General Motors in a research report on Tuesday, September 10th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $56.92.

Insider Transactions at General Motors

In related news, President Mark L. Reuss sold 122,283 shares of the business'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 transaction of $6,745,130.28. Following the completion of the transaction, the president now owns 126,907 shares of the company's stock, valued at approximately $7,000,190.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other General Motors news, President Mark L. Reuss sold 122,283 shares of the business's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the transaction, the president now directly owns 126,907 shares of the company's stock, valued at approximately $7,000,190.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mary T. Barra sold 506,824 shares of the company's stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 694,548 shares in the company, valued at $37,040,244.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 653,511 shares of company stock worth $35,012,844 in the last quarter. 0.72% of the stock is currently owned by corporate insiders.

General Motors Stock Up 0.5 %

Shares of NYSE:GM traded up $0.31 during midday trading on Wednesday, reaching $57.72. 10,047,686 shares of the company were exchanged, compared to its average volume of 14,907,310. The firm has a market cap of $63.47 billion, a PE ratio of 6.19, a P/E/G ratio of 0.43 and a beta of 1.40. General Motors has a fifty-two week low of $27.41 and a fifty-two week high of $58.42. The stock has a fifty day simple moving average of $49.15 and a two-hundred day simple moving average of $47.06. 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 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.47. The business had revenue of $48.76 billion during the quarter, compared to analysts' expectations of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The business's revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.28 EPS. As a group, sell-side analysts forecast that General Motors will post 10.35 earnings per share for the current year.

General Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders 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 yield of 0.83%. General Motors's payout ratio is 5.12%.

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.