Intech Investment Management LLC Decreases Stock Holdings in General Motors (NYSE:GM)

Intech Investment Management LLC reduced its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 24.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 878,665 shares of the auto manufacturer’s stock after selling 282,227 shares during the period. Intech Investment Management LLC’s holdings in General Motors were worth $39,399,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Cornerstone Advisors LLC grew its stake in General Motors by 2.0% during the third quarter. Cornerstone Advisors LLC now owns 67,600 shares of the auto manufacturer’s stock worth $3,031,000 after buying an additional 1,300 shares during the period. Portfolio Design Labs LLC purchased a new position in shares of General Motors in the third quarter valued at $1,719,000. Advisors Asset Management Inc. boosted its stake in shares of General Motors by 54.1% in the third quarter. Advisors Asset Management Inc. now owns 7,075 shares of the auto manufacturer’s stock valued at $317,000 after purchasing an additional 2,484 shares during the period. Jennison Associates LLC boosted its stake in shares of General Motors by 123.1% in the third quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer’s stock valued at $144,655,000 after purchasing an additional 1,779,897 shares during the period. Finally, Commerce Bank boosted its stake in shares of General Motors by 7.7% in the third quarter. Commerce Bank now owns 41,143 shares of the auto manufacturer’s stock valued at $1,845,000 after purchasing an additional 2,954 shares during the period. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GM. Nomura downgraded shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price for the company. in a research note on Monday, August 5th. Wolfe Research began coverage on shares of General Motors in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Royal Bank of Canada upped their target price on shares of General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Finally, Morgan Stanley downgraded shares of General Motors from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $47.00 to $42.00 in a research note on Wednesday, September 25th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $56.92.

General Motors Stock Down 0.4 %

Shares of NYSE:GM opened at $54.88 on Thursday. The stock has a market capitalization of $60.35 billion, a price-to-earnings ratio of 5.85, a price-to-earnings-growth ratio of 0.42 and a beta of 1.40. General Motors has a 1-year low of $27.70 and a 1-year high of $59.39. The company’s fifty day moving average is $50.31 and its two-hundred day moving average is $47.53. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21.

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

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors 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 dividend on an annualized basis and a dividend yield of 0.87%. General Motors’s dividend payout ratio (DPR) is presently 5.12%.

Insider Buying and Selling

In related news, 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 value of $27,028,923.92. Following the sale, the chief executive officer now owns 694,548 shares of the company’s stock, valued at $37,040,244.84. This trade represents a 42.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Craig B. Glidden sold 383,142 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the transaction, the executive vice president now directly owns 122,465 shares in the company, valued at approximately $6,935,192.95. The trade was a 75.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,036,653 shares of company stock valued at $56,710,175 in the last quarter. Company 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.