Janus Henderson Group PLC Decreases Stock Holdings in General Motors (NYSE:GM)

Janus Henderson Group PLC cut its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 11.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 393,122 shares of the auto manufacturer’s stock after selling 52,597 shares during the period. Janus Henderson Group PLC’s holdings in General Motors were worth $17,626,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of GM. Chicago Partners Investment Group LLC increased its stake in General Motors by 15.9% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 11,382 shares of the auto manufacturer’s stock valued at $510,000 after purchasing an additional 1,559 shares in the last quarter. Donald Smith & CO. Inc. grew its holdings in General Motors by 12.1% in the third quarter. Donald Smith & CO. Inc. now owns 1,629,573 shares of the auto manufacturer’s stock valued at $73,070,000 after purchasing an additional 175,860 shares during the last quarter. Foster & Motley Inc. increased its position in shares of General Motors by 121.5% in the third quarter. Foster & Motley Inc. now owns 47,169 shares of the auto manufacturer’s stock valued at $2,115,000 after buying an additional 25,869 shares in the last quarter. Stoneridge Investment Partners LLC raised its stake in shares of General Motors by 115.1% during the 3rd quarter. Stoneridge Investment Partners LLC now owns 178,443 shares of the auto manufacturer’s stock worth $8,001,000 after buying an additional 95,484 shares during the last quarter. Finally, Olstein Capital Management L.P. boosted its position in shares of General Motors by 14.9% in the 3rd quarter. Olstein Capital Management L.P. now owns 162,000 shares of the auto manufacturer’s stock worth $7,264,000 after buying an additional 21,000 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at General Motors

In related news, EVP Rory Harvey sold 8,919 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $60.01, for a total transaction of $535,229.19. Following the completion of the sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at approximately $510,865.13. This represents a 51.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Mark L. Reuss sold 122,283 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total value of $6,745,130.28. Following the completion of the transaction, the president now directly owns 126,907 shares in the company, valued at $7,000,190.12. This trade represents a 49.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,030,475 shares of company stock worth $56,509,286 in the last three months. 0.72% of the stock is currently owned by company insiders.

General Motors Price Performance

General Motors stock opened at $53.41 on Friday. General Motors has a 1 year low of $32.81 and a 1 year high of $61.24. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. The firm has a 50 day moving average price of $52.26 and a 200 day moving average price of $48.38. The company has a market cap of $58.73 billion, a price-to-earnings ratio of 5.69, a PEG ratio of 0.40 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.47. The company had revenue of $48.76 billion during 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 business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.28 EPS. Sell-side analysts predict that General Motors will post 10.35 earnings per share 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. The ex-dividend date is Friday, December 6th. This represents a $0.48 annualized dividend and a yield of 0.90%. General Motors’s dividend payout ratio is presently 5.12%.

Analysts Set New Price Targets

Several equities analysts have weighed in on GM shares. Royal Bank of Canada raised their target price on shares of General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. DZ Bank cut shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price objective for the company. in a research note on Friday, October 11th. Sanford C. Bernstein upped their target price on General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. Barclays raised their price target on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, UBS Group upped their price objective on General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $57.74.

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.