Gulf International Bank UK Ltd Sells 4,919 Shares of General Motors (NYSE:GM)

Gulf International Bank UK Ltd lessened its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 5.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 89,450 shares of the auto manufacturer’s stock after selling 4,919 shares during the period. 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 hedge funds also recently bought and sold shares of GM. Strategic Investment Solutions Inc. IL purchased a new stake in shares of General Motors in the 2nd quarter worth $25,000. Catalyst Capital Advisors LLC purchased a new stake in shares of General Motors in the 3rd quarter worth $27,000. Wellington Shields Capital Management LLC purchased a new stake in shares of General Motors in the 2nd quarter worth $28,000. Fortitude Family Office LLC lifted its holdings in shares of General Motors by 56.1% in the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after buying an additional 225 shares during the period. Finally, Montag A & Associates Inc. purchased a new stake in shares of General Motors in the 1st quarter worth $30,000. Institutional investors own 92.67% of the company’s stock.

Insider Activity

In other news, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction 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 completion of the sale, the executive vice president now directly owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly 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 document filed with the SEC, which is available through this hyperlink. Also, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $489,942.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 531,228 shares of company stock valued at $28,267,714. 0.72% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

GM has been the subject of several research reports. Nomura cut 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. Sanford C. Bernstein upped their price objective on General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday, October 25th. Wedbush upped their price objective on General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group upped their price objective on General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Finally, UBS Group upped their price objective on General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $56.92.

General Motors Price Performance

GM stock opened at $53.71 on Wednesday. The business has a fifty day moving average of $48.46 and a two-hundred day moving average of $46.66. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. The stock has a market cap of $59.06 billion, a price-to-earnings ratio of 5.73, a price-to-earnings-growth ratio of 0.39 and a beta of 1.40. General Motors has a 52-week low of $26.30 and a 52-week high of $54.29.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.47. The company had revenue of $48.76 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the firm earned $2.28 earnings per share. As a group, research analysts anticipate that General Motors will post 10.34 earnings per share for the current 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. The ex-dividend date is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.89%. General Motors’s payout ratio is presently 5.12%.

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.