Lbp Am Sa Trims Stock Position in General Motors (NYSE:GM)

Lbp Am Sa trimmed its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 88.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,726 shares of the auto manufacturer’s stock after selling 335,359 shares during the period. Lbp Am Sa’s holdings in General Motors were worth $2,074,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Norges Bank bought a new position in General Motors in the fourth quarter worth $602,280,000. Capital World Investors increased its stake in shares of 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 acquiring an additional 6,201,777 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in General Motors by 21.9% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock valued at $650,062,000 after acquiring an additional 3,247,050 shares during the period. Putnam Investments LLC boosted its stake in General Motors by 16.8% during the fourth quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock worth $726,942,000 after acquiring an additional 2,905,689 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado grew its holdings in General Motors by 1,213.0% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 2,203,771 shares of the auto manufacturer’s stock worth $79,159,000 after purchasing an additional 2,035,925 shares during the period. Institutional investors own 92.67% of the company’s stock.

General Motors Stock Performance

Shares of NYSE:GM traded down $0.95 during trading on Thursday, hitting $43.37. The company’s stock had a trading volume of 15,905,470 shares, compared to its average volume of 15,957,373. The company has a 50-day moving average of $46.47 and a 200-day moving average of $43.19. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99. The firm has a market cap of $48.74 billion, a price-to-earnings ratio of 5.42, a P/E/G ratio of 0.45 and a beta of 1.43. General Motors has a 12 month low of $26.30 and a 12 month high of $50.50.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.67 by $0.39. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The business had revenue of $47.97 billion for the quarter, compared to analysts’ expectations of $45.13 billion. During the same quarter last year, the company posted $1.91 EPS. The company’s revenue was up 7.2% compared to the same quarter last year. On average, sell-side analysts expect that General Motors will post 9.91 earnings per share for the current year.

General Motors announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, June 11th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the auto manufacturer to repurchase up to 10.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, September 6th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend is Friday, September 6th. General Motors’s dividend payout ratio (DPR) is currently 5.87%.

Insider Activity

In other news, President Mark L. Reuss sold 150,000 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $43.44, for a total value of $6,516,000.00. Following the completion of the sale, the president now directly owns 176,907 shares of the company’s stock, valued at $7,684,840.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, President Mark L. Reuss sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total value of $6,516,000.00. Following the transaction, the president now directly owns 176,907 shares of the company’s stock, valued at approximately $7,684,840.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Mary T. Barra sold 626,316 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the transaction, the chief executive officer now owns 1,198,648 shares of the company’s stock, valued at approximately $52,093,242.08. The disclosure for this sale can be found here. Insiders have sold a total of 1,152,621 shares of company stock valued at $51,818,111 in the last ninety days. Corporate insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GM. Wedbush reissued an “outperform” rating and issued a $55.00 price target on shares of General Motors in a research report on Wednesday, July 24th. Bank of America restated a “buy” rating and set a $75.00 price target on shares of General Motors in a report on Wednesday, June 12th. Royal Bank of Canada upped their price target on shares of General Motors from $54.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 23rd. UBS Group raised their price objective on shares of General Motors from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $56.38.

General Motors Company 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.