MetLife Investment Management LLC Has $13.10 Million Stake in General Motors (NYSE:GM)

MetLife Investment Management LLC lessened its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 4.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 292,140 shares of the auto manufacturer’s stock after selling 12,065 shares during the period. MetLife Investment Management LLC’s holdings in General Motors were worth $13,100,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in GM. Chicago Partners Investment Group LLC grew its position in shares of General Motors by 15.9% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 11,382 shares of the auto manufacturer’s stock worth $510,000 after buying an additional 1,559 shares during the period. Donald Smith & CO. Inc. raised its holdings in General Motors by 12.1% in the third quarter. Donald Smith & CO. Inc. now owns 1,629,573 shares of the auto manufacturer’s stock worth $73,070,000 after purchasing an additional 175,860 shares during the period. Foster & Motley Inc. boosted its position in shares of General Motors by 121.5% during the third quarter. Foster & Motley Inc. now owns 47,169 shares of the auto manufacturer’s stock worth $2,115,000 after purchasing an additional 25,869 shares in the last quarter. Stoneridge Investment Partners LLC increased its position in shares of General Motors by 115.1% in the 3rd quarter. Stoneridge Investment Partners LLC now owns 178,443 shares of the auto manufacturer’s stock valued at $8,001,000 after buying an additional 95,484 shares in the last quarter. Finally, Olstein Capital Management L.P. raised its stake in General Motors by 14.9% during the 3rd quarter. Olstein Capital Management L.P. now owns 162,000 shares of the auto manufacturer’s stock worth $7,264,000 after buying an additional 21,000 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insider Buying and Selling at General Motors

In other General Motors 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 value of $27,028,923.92. Following the transaction, the chief executive officer now directly owns 694,548 shares in the company, valued at $37,040,244.84. The trade was a 42.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Rory Harvey sold 9,307 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total transaction of $502,671.07. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at $459,787.13. The trade was a 52.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,030,475 shares of company stock worth $56,509,286 over the last 90 days. Company insiders own 0.72% of the company’s stock.

General Motors Price Performance

NYSE:GM opened at $55.50 on Thursday. The stock has a market capitalization of $61.03 billion, a PE ratio of 5.92, a P/E/G ratio of 0.45 and a beta of 1.40. General Motors has a 1-year low of $28.33 and a 1-year high of $61.24. The firm has a fifty day simple moving average of $51.29 and a 200 day simple moving average of $47.94. 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 announced its quarterly 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. The firm had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter last year, the company posted $2.28 earnings per share. On average, research analysts expect that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have issued reports on GM. Wedbush increased their price target on General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. increased 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 initiated coverage on shares of General Motors in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Sanford C. Bernstein increased their price objective on shares of General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research report on Friday, October 25th. Finally, Wells Fargo & Company boosted their price objective 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. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, General Motors presently has a consensus rating of “Hold” and a consensus target price 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.