General Motors (NYSE:GM) Shares Sold by Deseret Mutual Benefit Administrators

Deseret Mutual Benefit Administrators lowered its position in General Motors (NYSE:GM) (TSE:GMM.U) by 2.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,811 shares of the auto manufacturer’s stock after selling 204 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in General Motors were worth $350,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL bought a new stake in shares of General Motors in the second quarter worth $25,000. Catalyst Capital Advisors LLC bought a new stake in shares of General Motors in the 3rd quarter worth about $27,000. Wellington Shields Capital Management LLC acquired a new stake in shares of General Motors in the 2nd quarter valued at about $28,000. Fortitude Family Office LLC lifted its position in shares of General Motors by 56.1% during the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after purchasing an additional 225 shares during the last quarter. Finally, Montag A & Associates Inc. acquired a new position in General Motors in the first quarter worth about $30,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Price Performance

Shares of NYSE GM opened at $55.31 on Thursday. The stock has a market cap of $60.82 billion, a P/E ratio of 5.87, a P/E/G ratio of 0.39 and a beta of 1.40. The firm’s 50-day simple moving average is $48.58 and its 200 day simple moving average is $46.72. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $55.38. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. The company had revenue of $48.76 billion for the quarter, compared to the consensus estimate of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. General Motors’s revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.28 EPS. Equities analysts expect that General Motors will post 10.34 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 dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Friday, December 6th. General Motors’s payout ratio is currently 5.12%.

Analyst Ratings Changes

Several analysts have issued reports on GM shares. 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 note on Monday, August 5th. Wells Fargo & Company raised their price objective on General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their target price on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $53.00 price target on shares of General Motors in a research report on Tuesday, September 10th. Finally, Barclays boosted their price objective on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.92.

Insider Activity

In other General Motors news, EVP Rory Harvey sold 2,302 shares of the business’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 sale, the executive vice president now directly owns 10,356 shares in the company, valued at approximately $489,942.36. The trade was a 0.00 % decrease in their ownership of the stock. 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 firm’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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Rory Harvey sold 2,302 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total value of $108,907.62. Following 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 531,228 shares of company stock worth $28,267,714. 0.72% of the stock is owned by company insiders.

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.