ClearAlpha Technologies LP Sells 3,446 Shares of General Motors (NYSE:GM)

ClearAlpha Technologies LP reduced its position in General Motors (NYSE:GM) (TSE:GMM.U) by 24.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,459 shares of the auto manufacturer’s stock after selling 3,446 shares during the quarter. ClearAlpha Technologies LP’s holdings in General Motors were worth $469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Caisse DE Depot ET Placement DU Quebec raised its stake in General Motors by 972.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer’s stock valued at $94,300,000 after purchasing an additional 1,906,964 shares during the period. Jennison Associates LLC raised its position in shares of General Motors by 123.1% during the third quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer’s stock valued at $144,655,000 after buying an additional 1,779,897 shares during the last quarter. Artemis Investment Management LLP lifted its holdings in shares of General Motors by 581.4% in the third quarter. Artemis Investment Management LLP now owns 1,601,856 shares of the auto manufacturer’s stock worth $71,827,000 after buying an additional 1,366,768 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of General Motors by 9.2% during the second quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock worth $600,291,000 after acquiring an additional 1,091,137 shares during the last quarter. Finally, Panagora Asset Management Inc. grew its stake in General Motors by 3,333.1% during the second quarter. Panagora Asset Management Inc. now owns 783,340 shares of the auto manufacturer’s stock valued at $36,394,000 after acquiring an additional 760,523 shares in the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Stock Performance

Shares of General Motors stock opened at $55.59 on Monday. 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’s fifty day moving average is $51.56 and its two-hundred day moving average is $48.10. General Motors has a 52 week low of $31.52 and a 52 week high of $61.24. The company has a market capitalization of $61.13 billion, a PE ratio of 5.93, a price-to-earnings-growth ratio of 0.42 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 net margin of 6.06% and a return on equity of 16.30%. The firm had revenue of $48.76 billion for the quarter, compared to analysts’ expectations of $44.67 billion. During the same period in the prior year, the business posted $2.28 earnings per share. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. As a group, analysts expect that General Motors will post 10.35 earnings per share for the current year.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio is presently 5.12%.

Analysts Set New Price Targets

Several analysts have commented on GM shares. Morgan Stanley cut shares of General Motors from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $47.00 to $42.00 in a research note on Wednesday, September 25th. Wedbush increased their price target on General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada lifted their price objective on General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein increased their target price on General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research report on Friday, October 25th. Finally, UBS Group boosted their price target on shares of General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $56.92.

Insider Activity

In related news, EVP Rory Harvey sold 9,307 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total value of $502,671.07. Following the completion of the sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $459,787.13. This represents a 52.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Mark L. Reuss sold 122,283 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the transaction, the president now directly owns 126,907 shares in the company, valued at $7,000,190.12. This trade represents a 49.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,030,475 shares of company stock valued at $56,509,286. Corporate insiders own 0.72% of the company’s stock.

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.