General Motors (NYSE:GM) Shares Sold by Trust Asset Management LLC

Trust Asset Management LLC lessened its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 3.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,595 shares of the auto manufacturer’s stock after selling 607 shares during the quarter. Trust Asset Management LLC’s holdings in General Motors were worth $744,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Bank of New York Mellon Corp boosted its holdings in General Motors by 1.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 12,951,561 shares of the auto manufacturer’s stock valued at $601,730,000 after acquiring an additional 135,717 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of General Motors by 9.2% during the second quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock worth $600,291,000 after purchasing an additional 1,091,137 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its stake in shares of General Motors by 3.9% in the third quarter. Diamond Hill Capital Management Inc. now owns 11,113,063 shares of the auto manufacturer’s stock valued at $498,310,000 after purchasing an additional 421,989 shares during the period. LSV Asset Management grew its holdings in shares of General Motors by 2.6% in the second quarter. LSV Asset Management now owns 8,847,440 shares of the auto manufacturer’s stock valued at $411,052,000 after purchasing an additional 223,260 shares in the last quarter. Finally, Swedbank AB purchased a new stake in General Motors during the 1st quarter worth approximately $159,750,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on GM shares. Nomura cut shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target for the company. in a research 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 for the company. in a report on Friday, October 11th. Wolfe Research began coverage on General Motors in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Morgan Stanley cut General Motors from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $47.00 to $42.00 in a research note on Wednesday, September 25th. Finally, Royal Bank of Canada upped their target price on shares of General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $56.92.

Insider Activity at General Motors

In other General Motors news, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. The trade was a 42.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Rory Harvey sold 9,307 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $54.01, for a total transaction of $502,671.07. Following the transaction, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $459,787.13. The trade was a 52.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,021,556 shares of company stock worth $55,974,057 in the last quarter. Company insiders own 0.72% of the company’s stock.

General Motors Stock Performance

GM traded up $1.40 during trading on Monday, hitting $59.93. 1,905,286 shares of the stock were exchanged, compared to its average volume of 14,806,688. 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 has a 1-year low of $27.93 and a 1-year high of $60.03. The stock has a fifty day moving average price of $50.74 and a two-hundred day moving average price of $47.71. The firm has a market capitalization of $65.90 billion, a P/E ratio of 6.24, a PEG ratio of 0.44 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results 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 analysts’ expectations of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The company’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.28 EPS. As a group, sell-side analysts predict that General Motors will post 10.35 earnings per share for the current year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio is currently 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.