IFM Investors Pty Ltd Decreases Stake in General Motors (NYSE:GM)

IFM Investors Pty Ltd lessened its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 6.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 241,611 shares of the auto manufacturer’s stock after selling 17,176 shares during the quarter. IFM Investors Pty Ltd’s holdings in General Motors were worth $10,834,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL purchased a new stake in General Motors during the 2nd quarter valued at $25,000. Wellington Shields Capital Management LLC bought a new position in shares of General Motors during the second quarter valued at about $28,000. Fortitude Family Office LLC boosted its holdings in shares of General Motors by 56.1% during the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after purchasing an additional 225 shares during the period. Montag A & Associates Inc. bought a new stake in shares of General Motors in the first quarter worth about $30,000. Finally, EdgeRock Capital LLC purchased a new position in General Motors during the 2nd quarter valued at about $33,000. Institutional investors own 92.67% of the company’s stock.

General Motors Price Performance

Shares of NYSE GM opened at $52.70 on Friday. The firm has a market cap of $60.13 billion, a P/E ratio of 6.44, a PEG ratio of 0.56 and a beta of 1.42. General Motors has a twelve month low of $26.30 and a twelve month high of $54.29. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. The company has a 50 day moving average of $47.52 and a 200 day moving average of $46.09.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.47. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The firm had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. During the same quarter in the previous year, the business earned $2.28 earnings per share. The company’s revenue was up 10.5% on a year-over-year basis. As a group, research analysts expect that General Motors will post 9.95 EPS for the current fiscal year.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be paid a $0.12 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.91%. General Motors’s dividend payout ratio is presently 5.87%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday. Wolfe Research began coverage on shares of General Motors in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. UBS Group raised their target price on shares of General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday. The Goldman Sachs Group boosted their price target on shares of General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Finally, StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $56.97.

Insider Activity

In other General Motors news, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total value of $108,907.62. Following the completion of the sale, the executive vice president now owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total value of $27,028,923.92. Following the transaction, the chief executive officer now owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Rory Harvey sold 2,302 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total transaction of $108,907.62. Following the sale, the executive vice president now directly owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 531,228 shares of company stock valued at $28,267,714 over the last three months. Insiders own 0.72% of the company’s stock.

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.