Plato Investment Management Ltd Sells 10,767 Shares of General Motors (NYSE:GM)

Plato Investment Management Ltd lessened its stake in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 18.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,936 shares of the auto manufacturer's stock after selling 10,767 shares during the period. Plato Investment Management Ltd's holdings in General Motors were worth $2,102,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Capital World Investors lifted its stake in shares of General Motors by 14.6% during the first quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer's stock valued at $2,211,609,000 after acquiring an additional 6,201,777 shares during the period. Swedbank AB acquired a new position in General Motors during the 1st quarter valued at about $159,750,000. Artemis Investment Management LLP boosted its stake in shares of General Motors by 581.4% in the 3rd 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. Dimensional Fund Advisors LP grew its position in shares of 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 worth $600,291,000 after buying an additional 1,091,137 shares during the period. Finally, Panagora Asset Management Inc. raised its stake in shares of General Motors by 3,333.1% during the second quarter. Panagora Asset Management Inc. now owns 783,340 shares of the auto manufacturer's stock worth $36,394,000 after buying an additional 760,523 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company's stock.

General Motors Stock Down 0.1 %

Shares of General Motors stock traded down $0.08 during trading on Thursday, reaching $57.63. The stock had a trading volume of 17,745,986 shares, compared to its average volume of 14,920,187. The company has a market capitalization of $63.37 billion, a price-to-earnings ratio of 6.15, a P/E/G ratio of 0.43 and a beta of 1.40. The stock has a fifty day moving average price of $49.33 and a two-hundred day moving average price of $47.13. General Motors has a 52 week low of $27.42 and a 52 week high of $59.39. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24.

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 EPS for the quarter, beating analysts' consensus estimates of $2.49 by $0.47. The company had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The company's quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.28 earnings per share. Sell-side analysts predict that General Motors will post 10.35 EPS for the current fiscal 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 is Friday, December 6th. This represents a $0.48 annualized dividend and a yield of 0.83%. General Motors's payout ratio is presently 5.12%.

Analyst Ratings Changes

A number of equities analysts have issued reports on GM shares. UBS Group raised their price objective on shares of General Motors from $58.00 to $62.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Wedbush raised their price target on General Motors from $55.00 to $60.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. Barclays upped their price objective on General Motors from $64.00 to $70.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. Wolfe Research assumed coverage on General Motors in a report on Thursday, September 5th. They set a "peer perform" rating on the stock. Finally, Wells Fargo & Company upped their price target on General Motors from $33.00 to $38.00 and gave the company an "underweight" 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 given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $56.92.

Insider Buying and Selling

In other General Motors news, EVP Rory Harvey sold 2,302 shares of the company's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total value of $108,907.62. Following the sale, the executive vice president now owns 10,356 shares in the company, valued at $489,942.36. This represents a 18.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Mark L. Reuss sold 122,283 shares of the company'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 $7,000,190.12. This represents a 49.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 653,511 shares of company stock worth $35,012,844. Corporate insiders own 0.72% of the company's stock.

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.