Louisiana State Employees Retirement System Reduces Holdings in General Motors (NYSE:GM)

Louisiana State Employees Retirement System cut its position in General Motors (NYSE:GM) (TSE:GMM.U) by 2.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 63,300 shares of the auto manufacturer’s stock after selling 1,300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in General Motors were worth $2,838,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Allworth Financial LP lifted its stake in shares of General Motors by 2.3% in the third quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer’s stock worth $412,000 after acquiring an additional 205 shares in the last quarter. Tandem Capital Management Corp ADV boosted its stake in shares of General Motors by 1.7% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 47,571 shares of the auto manufacturer’s stock valued at $2,157,000 after buying an additional 800 shares during the last quarter. Legacy Capital Group California Inc. grew its position in shares of General Motors by 54.0% during the third quarter. Legacy Capital Group California Inc. now owns 6,801 shares of the auto manufacturer’s stock worth $305,000 after buying an additional 2,384 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of General Motors by 86.9% in the third quarter. Assenagon Asset Management S.A. now owns 569,633 shares of the auto manufacturer’s stock worth $25,542,000 after buying an additional 264,880 shares during the last quarter. Finally, International Assets Investment Management LLC raised its holdings in General Motors by 4,826.5% in the third quarter. International Assets Investment Management LLC now owns 549,261 shares of the auto manufacturer’s stock valued at $24,629,000 after acquiring an additional 538,112 shares in the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity at General Motors

In other General Motors news, EVP Rory Harvey sold 2,302 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $47.31, for a total value of $108,907.62. Following the completion of the sale, the executive vice president now directly owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Mary T. Barra sold 506,824 shares of the company’s stock in a transaction on 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 $37,040,244.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total value of $108,907.62. Following the completion of the transaction, the executive vice president now directly owns 10,356 shares in the company, valued at $489,942.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 531,228 shares of company stock valued at $28,267,714 over the last 90 days. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on GM shares. StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Wolfe Research assumed coverage on General Motors in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Sanford C. Bernstein lifted their price objective on shares of General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a report on Friday. Nomura Securities upgraded shares of General Motors to a “strong sell” rating in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. increased their price objective on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $56.92.

General Motors Stock Down 1.2 %

General Motors stock opened at $52.07 on Monday. General Motors has a 52 week low of $26.30 and a 52 week high of $54.29. The stock has a market cap of $58.52 billion, a price-to-earnings ratio of 5.55, a PEG ratio of 0.60 and a beta of 1.42. The company’s 50-day moving average price is $47.81 and its two-hundred day moving average price is $46.21. The company has a current ratio of 1.21, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data 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 business had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter last year, the business earned $2.28 earnings per share. On average, analysts expect that General Motors will post 10.05 EPS for the current fiscal year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be issued a $0.12 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.48 annualized dividend and a dividend yield of 0.92%. General Motors’s dividend payout ratio (DPR) is 5.12%.

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.