Gulf International Bank UK Ltd Lowers Stock Position in General Motors (NYSE:GM)

Gulf International Bank UK Ltd lowered its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 5.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 89,450 shares of the auto manufacturer’s stock after selling 4,919 shares during the quarter. Gulf International Bank UK Ltd’s holdings in General Motors were worth $4,010,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norden Group LLC bought a new position in shares of General Motors during the first quarter valued at $493,000. Nordea Investment Management AB increased its holdings in shares of General Motors by 3.6% during the first quarter. Nordea Investment Management AB now owns 100,090 shares of the auto manufacturer’s stock valued at $4,532,000 after acquiring an additional 3,433 shares in the last quarter. Larson Financial Group LLC increased its holdings in shares of General Motors by 16.5% during the first quarter. Larson Financial Group LLC now owns 2,086 shares of the auto manufacturer’s stock valued at $95,000 after acquiring an additional 296 shares in the last quarter. Catalina Capital Group LLC bought a new position in shares of General Motors during the first quarter valued at $230,000. Finally, Csenge Advisory Group increased its holdings in shares of General Motors by 6.1% during the first quarter. Csenge Advisory Group now owns 9,661 shares of the auto manufacturer’s stock valued at $438,000 after acquiring an additional 559 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

GM has been the subject of several research analyst reports. Nomura downgraded General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective for the company. in a report on Monday, August 5th. Morgan Stanley downgraded General Motors from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $47.00 to $42.00 in a report on Wednesday, September 25th. StockNews.com downgraded General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their price objective on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $53.00 price objective on shares of General Motors in a report on Tuesday, September 10th. 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 issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $56.92.

General Motors Stock Up 3.7 %

NYSE GM opened at $53.71 on Wednesday. The stock’s 50 day moving average is $48.46 and its 200 day moving average is $46.66. 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 has a 12 month low of $26.30 and a 12 month high of $54.29. The stock has a market cap of $59.06 billion, a PE ratio of 5.73, a P/E/G ratio of 0.39 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The company had revenue of $48.76 billion for the quarter, compared to analysts’ expectations of $44.67 billion. During the same period in the previous year, the firm earned $2.28 EPS. The firm’s revenue was up 10.5% compared to the same quarter last year. Research analysts predict that General Motors will post 10.34 EPS for the current fiscal year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Friday, December 6th. General Motors’s payout ratio is 5.12%.

Insiders Place Their Bets

In other General Motors news, CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction that occurred on 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Rory Harvey sold 9,307 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total value of $502,671.07. Following the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at approximately $459,787.13. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 531,228 shares of company stock valued at $28,267,714 in the last quarter. 0.72% of the stock is currently owned by insiders.

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.