General Motors (NYSE:GM) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 3.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 138,474 shares of the auto manufacturer’s stock after selling 5,513 shares during the period. Mutual of America Capital Management LLC’s holdings in General Motors were worth $6,209,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Capital World Investors lifted its position in General Motors by 14.6% during the first quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock valued at $2,211,609,000 after buying an additional 6,201,777 shares in the last quarter. Swedbank AB purchased a new position in General Motors in the first quarter valued at about $159,750,000. Artemis Investment Management LLP raised its position 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 valued at $71,827,000 after purchasing an additional 1,366,768 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of 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 worth $600,291,000 after purchasing an additional 1,091,137 shares in the last quarter. Finally, Panagora Asset Management Inc. boosted its position in shares of General Motors by 3,333.1% in the second quarter. Panagora Asset Management Inc. now owns 783,340 shares of the auto manufacturer’s stock worth $36,394,000 after buying an additional 760,523 shares during the period. 92.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on GM shares. DZ Bank cut General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target for the company. in a report on Friday, October 11th. Wells Fargo & Company raised their price target on shares of General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a report on Wednesday, October 23rd. Sanford C. Bernstein lifted their price target on shares of General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday, October 25th. UBS Group upped their price objective on shares of General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada lifted their target price on General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $56.92.

General Motors Stock Down 2.0 %

NYSE:GM opened at $55.12 on Wednesday. General Motors has a 52 week low of $27.70 and a 52 week high of $59.39. The firm has a market capitalization of $60.61 billion, a PE ratio of 5.88, a price-to-earnings-growth ratio of 0.43 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. The stock has a 50 day moving average of $50.10 and a 200-day moving average of $47.48.

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

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 annualized dividend and a dividend yield of 0.87%. General Motors’s payout ratio is currently 5.12%.

Insider Activity

In related news, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction dated Friday, August 23rd. The shares were 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 in the company, valued at $489,942.36. The trade was a 18.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mary T. Barra sold 506,824 shares of the stock in a transaction dated 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 of the company’s stock, valued at $37,040,244.84. This represents a 42.19 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 653,511 shares of company stock valued at $35,012,844. Insiders own 0.72% of the company’s stock.

General Motors 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.