Amalgamated Bank Sells 8,027 Shares of General Motors (NYSE:GM)

Amalgamated Bank trimmed its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 3.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 213,068 shares of the auto manufacturer’s stock after selling 8,027 shares during the period. Amalgamated Bank’s holdings in General Motors were worth $11,350,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of GM. Caisse DE Depot ET Placement DU Quebec grew its position in General Motors by 972.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer’s stock worth $94,300,000 after acquiring an additional 1,906,964 shares in the last quarter. Jennison Associates LLC lifted its stake in General Motors by 123.1% during the third quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer’s stock worth $144,655,000 after purchasing an additional 1,779,897 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of General Motors by 158.8% in the 3rd quarter. National Bank of Canada FI now owns 2,171,587 shares of the auto manufacturer’s stock worth $97,374,000 after purchasing an additional 1,332,450 shares in the last quarter. AustralianSuper Pty Ltd increased its position in shares of General Motors by 35.8% during the 4th quarter. AustralianSuper Pty Ltd now owns 4,399,549 shares of the auto manufacturer’s stock valued at $234,364,000 after purchasing an additional 1,159,958 shares during the last quarter. Finally, Ninety One UK Ltd raised its holdings in shares of General Motors by 38.7% during the 4th quarter. Ninety One UK Ltd now owns 4,089,633 shares of the auto manufacturer’s stock valued at $217,855,000 after buying an additional 1,140,569 shares in the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GM has been the subject of several research reports. StockNews.com lowered General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft raised shares of General Motors from a “hold” rating to a “buy” rating and upped their price objective for the company from $56.00 to $60.00 in a research note on Tuesday, January 21st. HSBC downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target for the company. in a research note on Wednesday, December 11th. Hsbc Global Res lowered shares of General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Finally, Morgan Stanley upgraded General Motors from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $46.00 to $54.00 in a report on Tuesday, December 10th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, General Motors currently has a consensus rating of “Hold” and a consensus target price of $59.71.

General Motors Stock Performance

NYSE:GM opened at $46.73 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. The firm’s fifty day simple moving average is $50.48 and its 200 day simple moving average is $50.34. The stock has a market cap of $46.49 billion, a P/E ratio of 7.60, a price-to-earnings-growth ratio of 0.67 and a beta of 1.40. General Motors has a twelve month low of $38.94 and a twelve month high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. As a group, research analysts predict that General Motors will post 11.44 EPS for the current year.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Friday, March 7th. General Motors’s dividend payout ratio is currently 7.80%.

Insider Activity

In other General Motors news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was bought at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the purchase, the director now directly owns 13,714 shares in the company, valued at $694,751.24. The trade was a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.72% of the stock is currently owned by company insiders.

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.