Swedbank AB Sells 1,406,345 Shares of General Motors (NYSE:GM)

Swedbank AB cut its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 47.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,563,975 shares of the auto manufacturer’s stock after selling 1,406,345 shares during the period. Swedbank AB owned 0.14% of General Motors worth $70,129,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

Several research firms have recently weighed in on GM. Wells Fargo & Company upped their price objective on General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein upped their target price on shares of General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $53.00 price target on shares of General Motors in a report on Tuesday, September 10th. Wolfe Research assumed coverage on shares of General Motors in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, Royal Bank of Canada lifted their target price on shares of General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus 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 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 completion of the sale, the president now directly owns 126,907 shares in the company, valued at $7,000,190.12. This represents a 49.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Craig B. Glidden sold 383,142 shares of General Motors stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $56.63, for a total value of $21,697,331.46. Following the transaction, the executive vice president now owns 122,465 shares in the company, valued at $6,935,192.95. This trade represents a 75.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,021,556 shares of company stock valued at $55,974,057 in the last ninety days. 0.72% of the stock is owned by insiders.

General Motors Trading Up 5.1 %

Shares of NYSE GM opened at $58.53 on Monday. General Motors has a fifty-two week low of $27.93 and a fifty-two week high of $59.39. The firm has a market capitalization of $64.36 billion, a P/E ratio of 6.24, a P/E/G ratio of 0.42 and a beta of 1.40. 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’s 50 day simple moving average is $50.74 and its 200 day simple moving average is $47.71.

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, beating analysts’ consensus estimates of $2.49 by $0.47. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The company had revenue of $48.76 billion for the quarter, compared to the consensus estimate of $44.67 billion. During the same quarter in the prior year, the business posted $2.28 EPS. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. On average, analysts predict that General Motors will post 10.35 EPS for the current year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders 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 0.82%. General Motors’s payout ratio is currently 5.12%.

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.