Fmr LLC Sells 1,028,989 Shares of General Motors (NYSE:GM)

Fmr LLC trimmed its position in General Motors (NYSE:GM) (TSE:GMM.U) by 5.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,278,107 shares of the auto manufacturer’s stock after selling 1,028,989 shares during the period. Fmr LLC’s holdings in General Motors were worth $864,430,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in GM. Strategic Investment Solutions Inc. IL bought a new stake in General Motors during the second quarter valued at $25,000. Catalyst Capital Advisors LLC purchased a new stake in shares of General Motors in the 3rd quarter valued at about $27,000. Wellington Shields Capital Management LLC bought a new stake in shares of General Motors during the 2nd quarter valued at about $28,000. Truvestments Capital LLC purchased a new position in shares of General Motors during the third quarter worth about $27,000. Finally, Fortitude Family Office LLC increased its position in shares of General Motors by 56.1% in the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after purchasing an additional 225 shares during the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

General Motors Trading Up 1.3 %

NYSE GM opened at $55.50 on Thursday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. General Motors has a fifty-two week low of $28.33 and a fifty-two week high of $61.24. The stock has a market cap of $61.03 billion, a P/E ratio of 5.92, a price-to-earnings-growth ratio of 0.45 and a beta of 1.40. The stock has a 50 day simple moving average of $51.29 and a two-hundred day simple moving average of $47.94.

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 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 analysts’ expectations of $44.67 billion. During the same quarter in the previous year, the business posted $2.28 earnings per share. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, analysts forecast that General Motors will post 10.35 earnings per share for the current year.

General Motors Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 annualized dividend and a yield of 0.86%. General Motors’s dividend payout ratio (DPR) is presently 5.12%.

Analysts Set New Price Targets

A number of research firms have commented on GM. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $53.00 price target on shares of General Motors in a research note on Tuesday, September 10th. Sanford C. Bernstein increased 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. Nomura Securities raised General Motors to a “strong sell” rating in a research note on Monday, August 5th. Royal Bank of Canada increased their price objective on General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company raised their price objective on General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a report on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, General Motors currently has an average rating of “Hold” and an average price target of $56.92.

Insider Buying and Selling at General Motors

In related news, EVP Rory Harvey sold 9,307 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total transaction of $502,671.07. Following the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at $459,787.13. The trade was a 52.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction 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 $37,040,244.84. This represents a 42.19 % decrease in their position. 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 currently owned by corporate insiders.

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.