General Motors (NYSE:GM) Shares Sold by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. lowered its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 58.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,362 shares of the auto manufacturer’s stock after selling 66,454 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in General Motors were worth $2,079,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of GM. Strategic Investment Solutions Inc. IL acquired a new position in General Motors in the 2nd quarter worth approximately $25,000. Catalyst Capital Advisors LLC acquired a new position in General Motors in the 3rd quarter worth approximately $27,000. Truvestments Capital LLC acquired a new position in General Motors in the 3rd quarter worth approximately $27,000. Wellington Shields Capital Management LLC acquired a new position in General Motors in the 2nd quarter worth approximately $28,000. Finally, Fortitude Family Office LLC increased its holdings in 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 buying an additional 225 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Trading Up 0.2 %

Shares of GM stock opened at $55.59 on Monday. The stock’s fifty day moving average is $51.56 and its two-hundred day moving average is $48.10. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. The firm has a market capitalization of $61.13 billion, a P/E ratio of 5.93, a PEG ratio of 0.42 and a beta of 1.40. General Motors has a fifty-two week low of $31.52 and a fifty-two week high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.47. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The company had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. During the same quarter last year, the firm posted $2.28 EPS. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. Research analysts expect that General Motors will post 10.35 earnings per share for the current fiscal year.

General Motors Dividend Announcement

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 issued a dividend of $0.12 per share. The ex-dividend date is Friday, December 6th. This represents a $0.48 annualized dividend and a dividend yield of 0.86%. General Motors’s dividend payout ratio is presently 5.12%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GM. UBS Group increased their price target on shares of General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Nomura cut shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective on the stock. in a research note on Monday, August 5th. Royal Bank of Canada raised their price objective on shares of General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Wedbush raised their price objective on shares of General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Wolfe Research started coverage on shares of General Motors in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $56.92.

Insider Transactions at General Motors

In related news, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the sale, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. This trade represents a 42.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Rory Harvey sold 8,919 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $60.01, for a total value of $535,229.19. Following the sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $510,865.13. The trade was a 51.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,030,475 shares of company stock worth $56,509,286 in the last quarter. Company insiders own 0.72% of the company’s stock.

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.