General Motors (NYSE:GM) Holdings Cut by Hartford Investment Management Co.

Hartford Investment Management Co. decreased its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 2.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 71,139 shares of the auto manufacturer’s stock after selling 2,026 shares during the quarter. Hartford Investment Management Co.’s holdings in General Motors were worth $3,190,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. ACR Alpine Capital Research LLC boosted its stake in General Motors by 8.4% during the 1st quarter. ACR Alpine Capital Research LLC now owns 6,337,547 shares of the auto manufacturer’s stock valued at $287,408,000 after purchasing an additional 492,693 shares in the last quarter. BDF Gestion acquired a new stake in shares of General Motors during the second quarter worth approximately $2,886,000. Atomi Financial Group Inc. acquired a new position in shares of General Motors in the first quarter worth $244,000. Cetera Investment Advisers raised its stake in shares of General Motors by 98.5% during the 1st quarter. Cetera Investment Advisers now owns 330,611 shares of the auto manufacturer’s stock worth $14,993,000 after purchasing an additional 164,083 shares in the last quarter. Finally, Susquehanna International Group Ltd. bought a new position in General Motors during the second quarter valued at approximately $636,000. Institutional investors own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GM. Barclays increased their price objective on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday. Nomura cut General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective on the stock. in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $53.00 target price on shares of General Motors in a report on Tuesday, September 10th. Nomura Securities upgraded shares of General Motors to a “strong sell” rating in a research report on Monday, August 5th. Finally, UBS Group boosted their price target on shares of General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday. Four analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $56.97.

Insider Activity

In related news, EVP Rory Harvey sold 12,795 shares of General Motors stock in a transaction on Monday, August 26th. The stock was sold at an average price of $49.02, for a total transaction of $627,210.90. Following the completion of the sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $417,307.26. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Rory Harvey sold 12,795 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $49.02, for a total value of $627,210.90. Following the sale, the executive vice president now directly owns 8,513 shares in the company, valued at $417,307.26. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Paul A. Jacobson acquired 25,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were purchased at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the acquisition, the chief financial officer now owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.72% of the stock is currently owned by company insiders.

General Motors Trading Down 1.5 %

GM stock opened at $52.91 on Thursday. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. General Motors has a twelve month low of $26.30 and a twelve month high of $54.19. The company has a market cap of $60.37 billion, a P/E ratio of 6.47, a PEG ratio of 0.56 and a beta of 1.42. The business has a fifty day moving average of $47.52 and a 200-day moving average of $46.09.

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 (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.47. General Motors had a net margin of 6.22% and a return on equity of 15.77%. 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 earned $2.28 EPS. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. As a group, equities research analysts expect that General Motors will post 9.95 EPS for the current year.

General Motors Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s payout ratio is 5.87%.

About General Motors

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.