Y Intercept Hong Kong Ltd Sells 123,998 Shares of General Motors (NYSE:GM)

Y Intercept Hong Kong Ltd trimmed its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 84.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 22,723 shares of the auto manufacturer’s stock after selling 123,998 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in General Motors were worth $1,019,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of General Motors by 6.1% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer’s stock valued at $774,766,000 after purchasing an additional 989,750 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in General Motors by 1.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 12,951,561 shares of the auto manufacturer’s stock worth $601,730,000 after acquiring an additional 135,717 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in General Motors by 9.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock worth $600,291,000 after acquiring an additional 1,091,137 shares during the last quarter. Diamond Hill Capital Management Inc. raised its stake in shares of General Motors by 3.9% during the third quarter. Diamond Hill Capital Management Inc. now owns 11,113,063 shares of the auto manufacturer’s stock valued at $498,310,000 after acquiring an additional 421,989 shares during the last quarter. Finally, LSV Asset Management lifted its holdings in shares of General Motors by 2.6% during the second quarter. LSV Asset Management now owns 8,847,440 shares of the auto manufacturer’s stock worth $411,052,000 after purchasing an additional 223,260 shares during the period. 92.67% of the stock is owned by institutional investors.

General Motors Stock Performance

NYSE:GM opened at $52.30 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. The company has a market capitalization of $57.51 billion, a P/E ratio of 5.58, a P/E/G ratio of 0.40 and a beta of 1.42. General Motors has a 1 year low of $32.83 and a 1 year high of $61.24. The business has a fifty day simple moving average of $52.72 and a two-hundred day simple moving average of $48.56.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. The firm had revenue of $48.76 billion during the quarter, compared to analyst estimates of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period last year, the company earned $2.28 earnings per share. On average, analysts expect that General Motors will post 10.35 earnings per share for the current year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.92%. General Motors’s dividend payout ratio is currently 5.12%.

Insider Buying and Selling at General Motors

In other news, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was 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 approximately $37,040,244.84. This trade represents a 42.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Rory Harvey sold 9,307 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $54.01, for a total value of $502,671.07. Following the transaction, the executive vice president now owns 8,513 shares in the company, valued at approximately $459,787.13. The trade was a 52.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,030,475 shares of company stock worth $56,509,286 over the last three months. 0.72% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GM has been the topic of a number of recent analyst reports. The Goldman Sachs Group upped their target price on General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. HSBC lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective for the company. in a research note on Wednesday. Mizuho increased their target price on shares of General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday. UBS Group lifted their price target on shares of General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Wolfe Research assumed coverage on shares of General Motors in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, General Motors has an average rating of “Hold” and a consensus price target of $58.85.

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.