OVERSEA CHINESE BANKING Corp Ltd Reduces Holdings in General Motors (NYSE:GM)

OVERSEA CHINESE BANKING Corp Ltd lowered its position in General Motors (NYSE:GM) (TSE:GMM.U) by 59.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,727 shares of the auto manufacturer’s stock after selling 104,235 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in General Motors were worth $3,127,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GM. Strategic Investment Solutions Inc. IL purchased a new stake in General Motors in the second quarter worth $25,000. Catalyst Capital Advisors LLC purchased a new position in General Motors in the 3rd quarter worth about $27,000. Wellington Shields Capital Management LLC bought a new stake in General Motors during the 2nd quarter valued at about $28,000. Fortitude Family Office LLC lifted its holdings in General Motors by 56.1% during the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after buying an additional 225 shares in the last quarter. Finally, EdgeRock Capital LLC purchased a new stake in General Motors in the 2nd quarter valued at about $33,000. Institutional investors own 92.67% of the company’s stock.

Analyst Ratings Changes

GM has been the subject of several research analyst reports. DZ Bank downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target for the company. in a research note on Friday, October 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $53.00 target price on shares of General Motors in a research report on Tuesday, September 10th. Royal Bank of Canada increased their price target on General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their price objective on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Nomura Securities upgraded shares of General Motors to a “strong sell” rating in a report on Monday, August 5th. 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 given a strong buy rating to the stock. According to MarketBeat, General Motors has an average rating of “Hold” and a consensus target price of $56.92.

Insider Activity

In other General Motors news, President Mark L. Reuss sold 122,283 shares of the business’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 owns 126,907 shares of the company’s stock, valued at approximately $7,000,190.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other General Motors news, EVP Rory Harvey sold 2,302 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total value of $108,907.62. Following the sale, the executive vice president now owns 10,356 shares of the company’s stock, valued at $489,942.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Mark L. Reuss sold 122,283 shares of General Motors stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total value of $6,745,130.28. Following the sale, the president now directly owns 126,907 shares of the company’s stock, valued at $7,000,190.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 653,511 shares of company stock worth $35,012,844 over the last quarter. 0.72% of the stock is currently owned by corporate insiders.

General Motors Stock Performance

Shares of NYSE GM opened at $57.41 on Wednesday. The company has a market capitalization of $63.13 billion, a PE ratio of 6.12, a price-to-earnings-growth ratio of 0.42 and a beta of 1.40. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. The company’s fifty day moving average price is $48.97 and its 200 day moving average price is $46.98. General Motors has a 1 year low of $26.64 and a 1 year high of $58.29.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $44.67 billion. During the same period in the prior year, the company posted $2.28 EPS. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, research analysts predict that General Motors will post 10.34 earnings per share for the current year.

General Motors Announces Dividend

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

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.