MetLife Investment Management LLC Has $13.10 Million Stock Position in General Motors (NYSE:GM)

MetLife Investment Management LLC cut its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 4.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 292,140 shares of the auto manufacturer’s stock after selling 12,065 shares during the quarter. MetLife Investment Management LLC’s holdings in General Motors were worth $13,100,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Silvercrest Asset Management Group LLC raised its position in shares of General Motors by 7.1% in the first quarter. Silvercrest Asset Management Group LLC now owns 7,094 shares of the auto manufacturer’s stock valued at $322,000 after buying an additional 473 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in General Motors by 35.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 36,493 shares of the auto manufacturer’s stock valued at $1,655,000 after acquiring an additional 9,460 shares in the last quarter. LRI Investments LLC bought a new stake in shares of General Motors during the 1st quarter valued at $34,000. Atria Investments Inc grew its holdings in shares of General Motors by 0.7% during the 1st quarter. Atria Investments Inc now owns 252,561 shares of the auto manufacturer’s stock worth $11,454,000 after purchasing an additional 1,673 shares in the last quarter. Finally, Invst LLC bought a new position in shares of General Motors in the first quarter worth $910,000. 92.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GM has been the subject of several recent analyst reports. Wedbush upped their price objective on shares of General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Morgan Stanley downgraded shares of General Motors from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $47.00 to $42.00 in a report on Wednesday, September 25th. Wolfe Research initiated coverage on shares of General Motors in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Sanford C. Bernstein upped their target price on General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday, October 25th. Finally, Nomura Securities upgraded General Motors to a “strong sell” rating in a research note on Monday, August 5th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, General Motors presently has an average rating of “Hold” and a consensus price target of $56.92.

Insider Transactions at General Motors

In related news, EVP Rory Harvey sold 9,307 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $54.01, for a total transaction of $502,671.07. Following the sale, the executive vice president now owns 8,513 shares in the company, valued at $459,787.13. This represents a 52.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the sale, the chief executive officer now owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. The trade was a 42.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,030,475 shares of company stock worth $56,509,286 over the last ninety days. 0.72% of the stock is owned by insiders.

General Motors Trading Up 1.3 %

GM opened at $55.50 on Thursday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. General Motors has a fifty-two week low of $28.33 and a fifty-two week high of $61.24. The company’s 50 day moving average price is $51.29 and its two-hundred day moving average price is $47.94. The firm has a market capitalization of $61.03 billion, a price-to-earnings ratio of 5.92, a PEG ratio of 0.45 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data 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. The company had revenue of $48.76 billion for the quarter, compared to analysts’ expectations of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. General Motors’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.28 earnings per share. As a group, research analysts predict that General Motors will post 10.35 earnings per share for the current year.

General Motors Dividend Announcement

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 annualized dividend and a dividend yield of 0.86%. General Motors’s payout ratio is 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.