Plato Investment Management Ltd Reduces Position in General Motors (NYSE:GM)

Plato Investment Management Ltd trimmed its position in General Motors (NYSE:GM) (TSE:GMM.U) by 18.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 46,936 shares of the auto manufacturer’s stock after selling 10,767 shares during the period. Plato Investment Management Ltd’s holdings in General Motors were worth $2,102,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital World Investors lifted its holdings in General Motors by 14.6% in the 1st quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock worth $2,211,609,000 after buying an additional 6,201,777 shares during the period. Swedbank AB bought a new stake in shares of General Motors during the first quarter valued at approximately $159,750,000. Artemis Investment Management LLP grew its stake in 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 purchasing an additional 1,366,768 shares during the period. Dimensional Fund Advisors LP lifted its position in 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 valued at $600,291,000 after buying an additional 1,091,137 shares during the period. Finally, Panagora Asset Management Inc. boosted its holdings in shares of General Motors by 3,333.1% during the 2nd quarter. Panagora Asset Management Inc. now owns 783,340 shares of the auto manufacturer’s stock valued at $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 brokerages recently issued reports on GM. StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Barclays lifted their target price on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Nomura downgraded General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target on the stock. in a research note on Monday, August 5th. Sanford C. Bernstein lifted their price objective on General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. Finally, Nomura Securities raised General Motors to a “strong sell” rating in a research note on Monday, August 5th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $56.92.

General Motors Trading Up 0.5 %

General Motors stock opened at $57.72 on Thursday. General Motors has a 52-week low of $27.41 and a 52-week high of $58.42. The company has a market cap of $63.47 billion, a P/E ratio of 6.15, a P/E/G ratio of 0.43 and a beta of 1.40. 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 business has a 50-day simple moving average of $49.15 and a two-hundred day simple moving average of $47.06.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 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 during the quarter, compared to analysts’ expectations of $44.67 billion. During the same period in the prior year, the company earned $2.28 earnings per share. The firm’s revenue was up 10.5% on a year-over-year basis. Analysts predict that General Motors will post 10.35 EPS for the current year.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.83%. General Motors’s payout ratio is currently 5.12%.

Insider Buying and Selling at General Motors

In other General Motors news, EVP Rory Harvey sold 2,302 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the sale, the executive vice president now directly owns 10,356 shares of the company’s stock, valued at $489,942.36. This trade represents a 0.00 % 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. In related news, CEO Mary T. Barra sold 506,824 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were 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 owns 694,548 shares in the company, valued at approximately $37,040,244.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the sale, the executive vice president now owns 10,356 shares in the company, valued at approximately $489,942.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 653,511 shares of company stock valued at $35,012,844 over the last 90 days. 0.72% of the stock is currently owned by corporate insiders.

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.