General Motors (NYSE:GM) Holdings Lowered by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC cut its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 48.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,510 shares of the auto manufacturer’s stock after selling 61,901 shares during the period. Los Angeles Capital Management LLC’s holdings in General Motors were worth $2,937,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Capital World Investors raised its position in General Motors by 14.6% in the first quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock worth $2,211,609,000 after acquiring an additional 6,201,777 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of General Motors by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 12,951,561 shares of the auto manufacturer’s stock worth $601,730,000 after purchasing an additional 135,717 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of General Motors by 9.2% in the 2nd 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 in the last quarter. LSV Asset Management lifted its stake in General Motors by 2.6% during the second quarter. LSV Asset Management now owns 8,847,440 shares of the auto manufacturer’s stock valued at $411,052,000 after purchasing an additional 223,260 shares during the last quarter. Finally, Swedbank AB bought a new stake in General Motors during the first quarter worth approximately $159,750,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Stock Down 0.4 %

General Motors stock opened at $57.41 on Wednesday. The company has a market capitalization of $63.13 billion, a P/E ratio of 6.12, a P/E/G ratio of 0.42 and a beta of 1.40. General Motors has a 1-year low of $26.64 and a 1-year high of $58.29. The firm’s fifty day simple moving average is $48.97 and its 200-day simple moving average is $46.98. 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) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share 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 during the quarter, compared to analysts’ expectations of $44.67 billion. During the same quarter in the previous year, the firm earned $2.28 earnings per share. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. Sell-side analysts forecast that General Motors will post 10.34 earnings per share 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. Stockholders 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 dividend yield of 0.84%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s payout ratio is 5.12%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Wolfe Research assumed coverage on General Motors in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Wedbush upped their target price on General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $53.00 price target on shares of General Motors in a research note on Tuesday, September 10th. Nomura cut shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price for the company. in a report on Monday, August 5th. Finally, Barclays lifted their target price on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $56.92.

Insider Buying and Selling

In other 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 directly owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other General Motors news, President Mark L. Reuss sold 122,283 shares of the firm’s stock in a transaction 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 sale, the president now directly owns 126,907 shares in the company, valued at $7,000,190.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $37,040,244.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, 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 Company 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.