Wellington Management Group LLP Sells 577,193 Shares of General Motors (NYSE:GM)

Wellington Management Group LLP trimmed its position in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 32.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,188,880 shares of the auto manufacturer's stock after selling 577,193 shares during the quarter. Wellington Management Group LLP owned approximately 0.11% of General Motors worth $53,309,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Hotchkis & Wiley Capital Management LLC boosted its position in General Motors by 6.1% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer's stock worth $774,766,000 after acquiring an additional 989,750 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of General Motors by 1.1% in the second quarter. Bank of New York Mellon Corp now owns 12,951,561 shares of the auto manufacturer's stock valued at $601,730,000 after buying an additional 135,717 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of General Motors by 9.2% in the second quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer's stock valued at $600,291,000 after buying an additional 1,091,137 shares during the period. Diamond Hill Capital Management Inc. lifted its holdings in shares of General Motors by 3.9% in the third quarter. Diamond Hill Capital Management Inc. now owns 11,113,063 shares of the auto manufacturer's stock valued at $498,310,000 after buying an additional 421,989 shares during the period. Finally, LSV Asset Management lifted its holdings in shares of General Motors by 2.6% in the second quarter. LSV Asset Management now owns 8,847,440 shares of the auto manufacturer's stock valued at $411,052,000 after buying an additional 223,260 shares during the period. Institutional investors and hedge funds own 92.67% of the company's stock.

General Motors Price Performance

General Motors stock traded up $0.02 during midday trading on Thursday, reaching $52.06. The company's stock had a trading volume of 5,252,570 shares, compared to its average volume of 14,731,104. The stock has a market cap of $57.24 billion, a PE ratio of 5.55, a price-to-earnings-growth ratio of 0.40 and a beta of 1.42. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24. The business has a 50-day moving average price of $52.72 and a 200-day moving average price of $48.56. General Motors has a 52 week low of $32.83 and a 52 week high of $61.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping 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 firm's quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.28 earnings per share. On average, sell-side analysts predict that General Motors will post 10.35 EPS for the current year.

General Motors Dividend Announcement

The business also recently declared 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 0.92%. General Motors's dividend payout ratio (DPR) is currently 5.12%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on GM shares. The Goldman Sachs Group upped their price objective on General Motors from $53.00 to $61.00 and gave the company a "buy" rating in a report on Tuesday, October 1st. Wolfe Research started coverage on General Motors in a research report on Thursday, September 5th. They set a "peer perform" rating on the stock. Wedbush boosted their target price on General Motors from $55.00 to $60.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. HSBC lowered General Motors from a "buy" rating to a "hold" rating and set a $58.00 target price on the stock. in a research report on Wednesday. Finally, Morgan Stanley raised General Motors from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $46.00 to $54.00 in a research report on Tuesday. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $58.85.

Insider Buying and Selling

In other General Motors news, CEO Mary T. Barra sold 506,824 shares of the firm'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 sale, the chief executive officer now owns 694,548 shares of the company's stock, valued at $37,040,244.84. This trade represents a 42.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Craig B. Glidden sold 383,142 shares of the firm's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $56.63, for a total value of $21,697,331.46. Following the completion of the sale, the executive vice president now directly owns 122,465 shares in the company, valued at approximately $6,935,192.95. The trade was a 75.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,030,475 shares of company stock worth $56,509,286. 0.72% of the stock is owned by corporate insiders.

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.