Sompo Asset Management Co. Ltd. Sells 460 Shares of General Motors (NYSE:GM)

Sompo Asset Management Co. Ltd. cut its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 4.3% in the third quarter, HoldingsChannel reports. The firm owned 10,260 shares of the auto manufacturer’s stock after selling 460 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in General Motors were worth $460,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of GM. Strategic Investment Solutions Inc. IL bought a new stake in General Motors during the 2nd quarter valued at $25,000. Catalyst Capital Advisors LLC bought a new stake in General Motors during the 3rd quarter valued at $27,000. Wellington Shields Capital Management LLC bought a new position in shares of General Motors in the 2nd quarter worth $28,000. Fortitude Family Office LLC raised its position 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 acquiring an additional 225 shares in the last quarter. Finally, EdgeRock Capital LLC bought a new position in shares of General Motors in the 2nd quarter worth $33,000. 92.67% of the stock is owned by institutional investors.

General Motors Stock Performance

NYSE GM opened at $58.53 on Monday. The stock has a 50-day moving average of $50.74 and a 200 day moving average of $47.71. General Motors has a twelve month low of $27.93 and a twelve month high of $59.39. The stock has a market capitalization of $64.36 billion, a price-to-earnings ratio of 6.24, a PEG ratio of 0.42 and a beta of 1.40. 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 posted its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, beating the consensus estimate of $2.49 by $0.47. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The firm had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. During the same quarter last year, the firm earned $2.28 earnings per share. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. Sell-side analysts anticipate that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Dividend Announcement

The firm 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 $0.12 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.48 annualized dividend and a yield of 0.82%. General Motors’s payout ratio is 5.12%.

Insider Transactions at General Motors

In other General Motors news, EVP Rory Harvey sold 9,307 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $54.01, for a total value of $502,671.07. Following the sale, the executive vice president now directly owns 8,513 shares in the company, valued at $459,787.13. This trade represents a 52.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Craig B. Glidden sold 383,142 shares of General Motors stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $56.63, for a total value of $21,697,331.46. Following the sale, the executive vice president now owns 122,465 shares in the company, valued at $6,935,192.95. This trade represents a 75.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,021,556 shares of company stock worth $55,974,057 over the last ninety days. Company insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. UBS Group boosted their target price on General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their target price on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Wolfe Research began coverage on General Motors in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Royal Bank of Canada boosted their price target on General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Morgan Stanley downgraded General Motors from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $47.00 to $42.00 in a research note on Wednesday, September 25th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, General Motors has a consensus rating of “Hold” and a consensus price target of $56.92.

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.