OVERSEA CHINESE BANKING Corp Ltd Sells 14,143 Shares of General Motors Company (NYSE:GM)

OVERSEA CHINESE BANKING Corp Ltd lessened its holdings in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 19.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,600 shares of the auto manufacturer’s stock after selling 14,143 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in General Motors were worth $2,738,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Franklin Resources Inc. boosted its stake in General Motors by 4.2% in the 4th quarter. Franklin Resources Inc. now owns 29,273,136 shares of the auto manufacturer’s stock worth $1,559,380,000 after purchasing an additional 1,170,816 shares in the last quarter. Geode Capital Management LLC boosted its stake in General Motors by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 23,796,969 shares of the auto manufacturer’s stock worth $1,264,567,000 after purchasing an additional 176,436 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in General Motors by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 14,066,883 shares of the auto manufacturer’s stock worth $749,382,000 after purchasing an additional 228,408 shares in the last quarter. Norges Bank bought a new position in General Motors in the 4th quarter worth about $592,321,000. Finally, Northern Trust Corp boosted its stake in General Motors by 8.1% in the 4th quarter. Northern Trust Corp now owns 10,930,178 shares of the auto manufacturer’s stock worth $582,251,000 after purchasing an additional 822,454 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

General Motors Trading Down 0.1%

General Motors stock opened at $53.33 on Tuesday. The firm has a 50 day moving average of $49.49 and a 200 day moving average of $48.68. The firm has a market capitalization of $51.27 billion, a price-to-earnings ratio of 7.68, a P/E/G ratio of 1.44 and a beta of 1.32. General Motors Company has a 12-month low of $38.96 and a 12-month high of $61.24. The company has a current ratio of 1.21, a quick ratio of 1.04 and a debt-to-equity ratio of 1.46.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.15. The company had revenue of $44.02 billion during the quarter, compared to analyst estimates of $42.64 billion. General Motors had a net margin of 3.08% and a return on equity of 14.30%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.62 EPS. As a group, research analysts predict that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 19th. Shareholders of record on Friday, June 6th were issued a dividend of $0.15 per share. This is a positive change from General Motors’s previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date was Friday, June 6th. General Motors’s dividend payout ratio (DPR) is 8.65%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Royal Bank Of Canada upped their price target on shares of General Motors from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. UBS Group boosted their price objective on shares of General Motors from $50.00 to $56.00 and gave the company a “neutral” rating in a report on Monday. CLSA upgraded shares of General Motors to a “moderate buy” rating in a research report on Monday, July 7th. Piper Sandler restated a “neutral” rating and set a $48.00 price objective (up previously from $43.00) on shares of General Motors in a research report on Thursday, May 22nd. Finally, Barclays increased their price objective on shares of General Motors from $40.00 to $45.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $54.61.

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.