Swiss National Bank Sells 33,000 Shares of General Motors (NYSE:GM)

Swiss National Bank decreased its position in General Motors (NYSE:GM) (TSE:GMM.U) by 1.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,385,000 shares of the auto manufacturer’s stock after selling 33,000 shares during the quarter. Swiss National Bank’s holdings in General Motors were worth $151,783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of GM. Capital World Investors lifted its position in General Motors by 14.6% in the 1st quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock worth $2,211,609,000 after buying an additional 6,201,777 shares during the last quarter. Swedbank AB purchased a new position in General Motors in the 1st quarter worth approximately $159,750,000. Artemis Investment Management LLP increased its stake in General Motors by 581.4% in the 3rd quarter. Artemis Investment Management LLP now owns 1,601,856 shares of the auto manufacturer’s stock worth $71,827,000 after purchasing an additional 1,366,768 shares during the period. Dimensional Fund Advisors LP increased its stake in General Motors by 9.2% in the 2nd 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 during the period. Finally, Panagora Asset Management Inc. increased its stake in 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 period. Institutional investors own 92.67% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on GM shares. Barclays lifted their price target on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note 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. Nomura cut General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target on the stock. in a research note on Monday, August 5th. JPMorgan Chase & Co. lifted their price target on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Wolfe Research started coverage on General Motors in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $56.92.

General Motors Trading Down 1.0 %

NYSE GM opened at $57.04 on Monday. 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 twelve month low of $27.42 and a twelve month high of $59.39. The firm has a market capitalization of $62.72 billion, a PE ratio of 6.08, a P/E/G ratio of 0.43 and a beta of 1.40. The stock’s 50 day moving average is $49.72 and its 200 day moving average is $47.32.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.47. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The company had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. During the same period in the previous year, the company posted $2.28 earnings per share. The firm’s revenue was up 10.5% on a year-over-year basis. Research analysts forecast that General Motors will post 10.35 earnings per share for the current fiscal year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio (DPR) is 5.12%.

Insiders Place Their Bets

In other news, President Mark L. Reuss sold 122,283 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the transaction, the president now directly owns 126,907 shares of the company’s stock, valued at $7,000,190.12. This represents a 49.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 transaction, the executive vice president now directly owns 10,356 shares in the company, valued at approximately $489,942.36. The trade was a 18.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 653,511 shares of company stock valued at $35,012,844. 0.72% of the stock is currently owned by corporate 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.