Ninety One UK Ltd Sells 329,631 Shares of General Motors (NYSE:GM)

Ninety One UK Ltd lowered its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 7.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,087,347 shares of the auto manufacturer’s stock after selling 329,631 shares during the period. Ninety One UK Ltd owned approximately 0.30% of General Motors worth $146,818,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in General Motors by 1.4% in the third quarter. Vanguard Group Inc. now owns 111,460,756 shares of the auto manufacturer’s stock worth $3,674,861,000 after purchasing an additional 1,580,681 shares during the period. State Street Corp raised its position in shares of General Motors by 0.7% during the first quarter. State Street Corp now owns 56,981,032 shares of the auto manufacturer’s stock worth $2,090,060,000 after purchasing an additional 383,957 shares during the period. Morgan Stanley grew its position in shares of General Motors by 1.3% in the 3rd quarter. Morgan Stanley now owns 15,212,672 shares of the auto manufacturer’s stock valued at $501,562,000 after purchasing an additional 201,080 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in General Motors by 80.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,687,738 shares of the auto manufacturer’s stock worth $538,747,000 after buying an additional 6,548,022 shares during the period. Finally, Norges Bank acquired a new position in shares of General Motors in the fourth quarter valued at approximately $493,248,000. 92.67% of the stock is owned by institutional investors.

General Motors Price Performance

Shares of GM stock traded down $0.28 on Thursday, reaching $42.18. The company had a trading volume of 5,091,063 shares, compared to its average volume of 17,292,275. The stock has a market capitalization of $48.69 billion, a PE ratio of 5.81, a price-to-earnings-growth ratio of 0.52 and a beta of 1.51. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 1.21. The business’s 50-day moving average is $41.50 and its 200 day moving average is $35.68. General Motors has a one year low of $26.30 and a one year high of $46.04.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, January 30th. The auto manufacturer reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.08. The business had revenue of $42.98 billion for the quarter, compared to analyst estimates of $38.81 billion. General Motors had a return on equity of 14.34% and a net margin of 5.89%. General Motors’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.12 EPS. Equities research analysts forecast that General Motors will post 9.08 EPS for the current fiscal year.

General Motors Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Friday, March 1st were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.14%. This is an increase from General Motors’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, February 29th. General Motors’s dividend payout ratio is presently 6.57%.

Insider Transactions at General Motors

In other news, CAO Christopher Hatto sold 15,510 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $40.02, for a total value of $620,710.20. Following the transaction, the chief accounting officer now owns 21,507 shares in the company, valued at approximately $860,710.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Christopher Hatto sold 15,510 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $40.02, for a total transaction of $620,710.20. Following the completion of the sale, the chief accounting officer now owns 21,507 shares of the company’s stock, valued at $860,710.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Rory Harvey sold 5,100 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $43.04, for a total transaction of $219,504.00. Following the sale, the executive vice president now directly owns 12,658 shares of the company’s stock, valued at approximately $544,800.32. The disclosure for this sale can be found here. Insiders sold 86,248 shares of company stock worth $3,614,078 over the last ninety days. 0.54% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

GM has been the subject of a number of research reports. Morgan Stanley increased their target price on General Motors from $43.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, April 10th. The Goldman Sachs Group upped their target price on shares of General Motors from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Wedbush boosted their price target on General Motors from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Barclays raised their price objective on General Motors from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Finally, Wolfe Research upgraded General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a research note on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, General Motors presently has an average rating of “Moderate Buy” and a consensus price target of $51.57.

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.