General Motors Company (NYSE:GM) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd cut its holdings in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 25.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,120 shares of the auto manufacturer’s stock after selling 22,272 shares during the period. Gulf International Bank UK Ltd’s holdings in General Motors were worth $3,109,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. National Pension Service lifted its position in General Motors by 3.7% during the first quarter. National Pension Service now owns 3,215,868 shares of the auto manufacturer’s stock valued at $151,242,000 after purchasing an additional 116,161 shares during the period. Resona Asset Management Co. Ltd. grew its position in General Motors by 5.7% during the first quarter. Resona Asset Management Co. Ltd. now owns 381,970 shares of the auto manufacturer’s stock valued at $17,946,000 after buying an additional 20,450 shares during the period. Westpac Banking Corp grew its position in General Motors by 19.4% during the first quarter. Westpac Banking Corp now owns 28,014 shares of the auto manufacturer’s stock valued at $1,317,000 after buying an additional 4,554 shares during the period. Callan Family Office LLC grew its position in General Motors by 12.3% during the first quarter. Callan Family Office LLC now owns 11,510 shares of the auto manufacturer’s stock valued at $541,000 after buying an additional 1,258 shares during the period. Finally, AIA Group Ltd grew its position in General Motors by 50.8% during the first quarter. AIA Group Ltd now owns 88,782 shares of the auto manufacturer’s stock valued at $4,175,000 after buying an additional 29,908 shares during the period. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other General Motors news, EVP Rory Harvey sold 23,977 shares of the firm’s stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $53.01, for a total value of $1,271,020.77. Following the completion of the sale, the executive vice president directly owned 8,513 shares of the company’s stock, valued at $451,274.13. This trade represents a 73.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.54% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GM has been the topic of several analyst reports. Wells Fargo & Company raised their price target on shares of General Motors from $34.00 to $38.00 and gave the company an “underweight” rating in a research report on Wednesday, July 23rd. The Goldman Sachs Group restated a “buy” rating on shares of General Motors in a research report on Friday, July 11th. Bank of America dropped their price target on shares of General Motors from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Wednesday, July 23rd. Industrial Alliance Securities set a $70.00 price target on shares of General Motors in a research report on Friday, July 11th. Finally, JPMorgan Chase & Co. raised their price target on shares of General Motors from $56.00 to $60.00 and gave the company an “overweight” rating in a research report on Monday, July 21st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, General Motors has a consensus rating of “Hold” and a consensus price target of $57.53.

General Motors Trading Up 2.7%

Shares of GM opened at $55.63 on Thursday. General Motors Company has a 52-week low of $41.60 and a 52-week high of $61.24. The stock has a market cap of $52.96 billion, a PE ratio of 8.83, a price-to-earnings-growth ratio of 1.15 and a beta of 1.36. The firm’s fifty day moving average is $51.34 and its two-hundred day moving average is $48.86. The company has a quick ratio of 1.05, a current ratio of 1.22 and a debt-to-equity ratio of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.01. General Motors had a return on equity of 12.98% and a net margin of 2.54%. The business had revenue of $47.12 billion during the quarter, compared to the consensus estimate of $45.87 billion. During the same period last year, the company earned $3.06 EPS. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. Research analysts forecast that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, September 5th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.1%. General Motors’s dividend payout ratio (DPR) is 9.52%.

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.