Public Employees Retirement System of Ohio reduced its holdings in shares of General Motors (NYSE:GM – Free Report) (TSE:GMM.U) by 0.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 701,950 shares of the auto manufacturer’s stock after selling 6,155 shares during the period. Public Employees Retirement System of Ohio owned about 0.06% of General Motors worth $31,475,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the business. Allworth Financial LP raised its position in General Motors by 2.3% in the 3rd quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer’s stock worth $412,000 after purchasing an additional 205 shares during the period. Avestar Capital LLC increased its holdings in shares of General Motors by 2.3% in the third quarter. Avestar Capital LLC now owns 9,592 shares of the auto manufacturer’s stock worth $430,000 after buying an additional 213 shares during the period. SeaCrest Wealth Management LLC lifted its stake in shares of General Motors by 3.5% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 6,804 shares of the auto manufacturer’s stock valued at $316,000 after acquiring an additional 227 shares during the last quarter. Institute for Wealth Management LLC. boosted its holdings in General Motors by 0.6% during the 2nd quarter. Institute for Wealth Management LLC. now owns 36,624 shares of the auto manufacturer’s stock valued at $1,702,000 after acquiring an additional 230 shares during the period. Finally, Metis Global Partners LLC grew its position in General Motors by 0.6% during the 3rd quarter. Metis Global Partners LLC now owns 36,240 shares of the auto manufacturer’s stock worth $1,625,000 after acquiring an additional 230 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.
General Motors Price Performance
Shares of NYSE GM opened at $52.74 on Tuesday. The company has a 50 day simple moving average of $52.41 and a two-hundred day simple moving average of $48.47. General Motors has a fifty-two week low of $32.83 and a fifty-two week high of $61.24. The company has a market capitalization of $57.99 billion, a price-to-earnings ratio of 5.62, a P/E/G ratio of 0.40 and a beta of 1.42. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21.
General Motors Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.91%. The ex-dividend date is Friday, December 6th. General Motors’s dividend payout ratio (DPR) is 5.12%.
Insider Buying and Selling at General Motors
In other news, President Mark L. Reuss sold 122,283 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was 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 of the company’s stock, valued at $7,000,190.12. This represents a 49.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Mary T. Barra sold 506,824 shares of General Motors 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 completion of the sale, the chief executive officer now owns 694,548 shares of the company’s stock, valued at $37,040,244.84. The trade was a 42.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,030,475 shares of company stock worth $56,509,286. 0.72% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of research firms have recently weighed in on GM. Morgan Stanley lowered General Motors from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $47.00 to $42.00 in a research note on Wednesday, September 25th. Wells Fargo & Company increased their price target on shares of General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price objective on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. DZ Bank lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price for the company. in a report on Friday, October 11th. Finally, Sanford C. Bernstein boosted their price target on General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Friday, October 25th. Four analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $58.26.
Check Out Our Latest Report on GM
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.
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