General Motors (NYSE:GM) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lessened its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 0.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 416,273 shares of the auto manufacturer’s stock after selling 2,794 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in General Motors were worth $18,666,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL acquired a new stake in shares of General Motors in the 2nd quarter worth $25,000. Catalyst Capital Advisors LLC purchased a new stake in General Motors in the 3rd quarter valued at approximately $27,000. Wellington Shields Capital Management LLC acquired a new position in General Motors during the 2nd quarter worth approximately $28,000. Fortitude Family Office LLC increased its position in General Motors by 56.1% during the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after purchasing an additional 225 shares during the period. Finally, Montag A & Associates Inc. acquired a new stake in shares of General Motors in the 1st quarter valued at approximately $30,000. 92.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at General Motors

In other news, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction dated Friday, August 23rd. The stock was 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 of the company’s stock, valued at $489,942.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, President Mark L. Reuss sold 122,283 shares of the stock in a transaction dated Wednesday, November 6th. The stock was 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 approximately $7,000,190.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Rory Harvey sold 2,302 shares of the business’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 transaction, the executive vice president now directly owns 10,356 shares in the company, valued at $489,942.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 653,511 shares of company stock valued at $35,012,844. Company insiders own 0.72% of the company’s stock.

General Motors Trading Up 0.3 %

NYSE:GM traded up $0.19 during mid-day trading on Friday, reaching $55.58. The company’s stock had a trading volume of 10,247,531 shares, compared to its average volume of 12,516,410. General Motors has a twelve month low of $26.30 and a twelve month high of $56.08. The company’s fifty day simple moving average is $48.81 and its two-hundred day simple moving average is $46.88. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. The stock has a market cap of $61.12 billion, a P/E ratio of 5.93, a P/E/G ratio of 0.42 and a beta of 1.40.

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

General Motors Announces Dividend

The company 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 $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s payout ratio is currently 5.12%.

Analyst Ratings Changes

Several research firms have issued reports on GM. Wells Fargo & Company increased their price objective on General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 23rd. Wolfe Research initiated coverage on shares of General Motors in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. The Goldman Sachs Group boosted their price objective on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. UBS Group increased their target price on shares of General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Nomura Securities raised General Motors to a “strong sell” rating in a research note on Monday, August 5th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $56.92.

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.