NCP Inc. Reduces Holdings in General Motors (NYSE:GM)

NCP Inc. lowered its position in General Motors (NYSE:GM) (TSE:GMM.U) by 4.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 5,320 shares of the auto manufacturer’s stock after selling 249 shares during the period. NCP Inc.’s holdings in General Motors were worth $239,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Swedbank AB purchased a new stake in shares of General Motors during the first quarter worth $159,750,000. Jennison Associates LLC boosted its holdings in General Motors by 123.1% in the 3rd quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer’s stock valued at $144,655,000 after purchasing an additional 1,779,897 shares during the period. Artemis Investment Management LLP grew its position in shares of General Motors by 581.4% during 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 in the last quarter. Dimensional Fund Advisors LP increased 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 worth $600,291,000 after purchasing an additional 1,091,137 shares during the period. Finally, Panagora Asset Management Inc. raised its position in shares of General Motors by 3,333.1% in 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 in the last quarter. 92.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. JPMorgan Chase & Co. boosted their target price on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group boosted their price objective on General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Barclays raised their target price on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Nomura cut shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target for the company. in a research note on Monday, August 5th. Finally, Wolfe Research started coverage on shares of General Motors in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $56.92.

Insider Transactions at General Motors

In related news, CEO Mary T. Barra sold 506,824 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the transaction, the chief executive officer now directly owns 694,548 shares in the company, valued at $37,040,244.84. This trade represents a 42.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Craig B. Glidden sold 383,142 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the sale, the executive vice president now directly owns 122,465 shares in the company, valued at $6,935,192.95. The trade was a 75.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,021,556 shares of company stock valued at $55,974,057. Corporate insiders own 0.72% of the company’s stock.

General Motors Price Performance

GM opened at $54.79 on Wednesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. The stock has a market capitalization of $60.24 billion, a PE ratio of 5.84, a price-to-earnings-growth ratio of 0.45 and a beta of 1.40. The stock’s 50 day moving average price is $51.15 and its 200-day moving average price is $47.88. General Motors has a 52-week low of $27.93 and a 52-week high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data 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. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The business had revenue of $48.76 billion for the quarter, compared to the consensus estimate of $44.67 billion. During the same period in the previous year, the firm earned $2.28 EPS. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, equities research analysts predict that General Motors will post 10.35 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. 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 dividend on an annualized basis and a dividend yield of 0.88%. General Motors’s dividend payout ratio (DPR) 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.