General Motors (NYSE:GM) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in General Motors (NYSE:GM) (TSE:GMM.U) by 5.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 7,506,996 shares of the auto manufacturer’s stock after selling 454,063 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.68% of General Motors worth $336,614,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Jennison Associates LLC raised its stake in shares of General Motors by 123.1% in the 3rd quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer’s stock valued at $144,655,000 after acquiring an additional 1,779,897 shares during the period. Artemis Investment Management LLP increased its stake in General Motors by 581.4% during 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 last quarter. Dimensional Fund Advisors LP lifted its holdings in General Motors by 9.2% in the second quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock worth $600,291,000 after acquiring an additional 1,091,137 shares during the last quarter. Panagora Asset Management Inc. lifted its holdings in shares of General Motors by 3,333.1% in the 2nd quarter. Panagora Asset Management Inc. now owns 783,340 shares of the auto manufacturer’s stock worth $36,394,000 after purchasing an additional 760,523 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its stake in General Motors by 33.9% in the second quarter. Public Employees Retirement Association of Colorado now owns 2,909,540 shares of the auto manufacturer’s stock valued at $135,177,000 after buying an additional 736,457 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

GM has been the subject of several research analyst reports. Nomura Securities raised shares of General Motors to a “strong sell” rating in a report on Monday, August 5th. DZ Bank lowered General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price on the stock. in a research report on Friday, October 11th. Wedbush raised their target price on General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $53.00 price target on shares of General Motors in a research note on Tuesday, September 10th. Finally, Morgan Stanley cut shares of General Motors from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $47.00 to $42.00 in a report on Wednesday, September 25th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $56.92.

General Motors Price Performance

General Motors stock opened at $55.62 on Friday. 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 company has a market capitalization of $61.16 billion, a price-to-earnings ratio of 5.93, a PEG ratio of 0.42 and a beta of 1.40. The stock’s 50 day moving average is $51.56 and its 200-day moving average is $48.06. General Motors has a 12 month low of $31.52 and a 12 month high of $61.24.

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. 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 analyst estimates of $44.67 billion. During the same period last year, the firm earned $2.28 earnings per share. General Motors’s revenue for the quarter was up 10.5% compared to the same quarter last year. Equities research analysts expect that General Motors will post 10.35 EPS for the current year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.86%. General Motors’s payout ratio is 5.12%.

Insider Transactions at General Motors

In other news, EVP Craig B. Glidden sold 383,142 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the completion of the transaction, the executive vice president now owns 122,465 shares of the company’s stock, valued at approximately $6,935,192.95. The trade was a 75.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Rory Harvey sold 8,919 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $60.01, for a total value of $535,229.19. Following the completion of the sale, the executive vice president now directly owns 8,513 shares in the company, valued at $510,865.13. This trade represents a 51.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,030,475 shares of company stock valued at $56,509,286. 0.72% of the stock is owned by corporate insiders.

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.