General Motors (NYSE:GM) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems cut its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 8.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,299 shares of the auto manufacturer’s stock after selling 7,679 shares during the period. Kentucky Retirement Systems’ holdings in General Motors were worth $3,511,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in GM. Strategic Investment Solutions Inc. IL purchased a new stake in shares of General Motors in the second quarter valued at about $25,000. Catalyst Capital Advisors LLC acquired a new position in shares of General Motors during the 3rd quarter worth approximately $27,000. Wellington Shields Capital Management LLC purchased a new stake in General Motors in the 2nd quarter valued at approximately $28,000. Fortitude Family Office LLC grew its holdings in General Motors by 56.1% during the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after buying an additional 225 shares during the last quarter. Finally, EdgeRock Capital LLC purchased a new position in General Motors during the second quarter worth $33,000. 92.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on GM shares. Barclays upped their price objective on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their price target on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Wells Fargo & Company upped their price objective on shares of General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a research note on Wednesday, October 23rd. Finally, DZ Bank lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price on the stock. in a research report on Friday, October 11th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $56.92.

Insider Activity

In related news, President Mark L. Reuss sold 122,283 shares of General Motors stock in a transaction on Wednesday, November 6th. The shares were 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 owns 126,907 shares in the company, valued at approximately $7,000,190.12. The trade was a 49.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Rory Harvey sold 2,302 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 10,356 shares in the company, valued at $489,942.36. This represents a 18.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 653,511 shares of company stock worth $35,012,844. 0.72% of the stock is currently owned by company insiders.

General Motors Trading Down 1.0 %

NYSE:GM opened at $57.04 on Friday. The business’s 50-day moving average is $49.72 and its two-hundred day moving average is $47.30. The firm has a market capitalization of $62.72 billion, a PE ratio of 6.08, a price-to-earnings-growth ratio of 0.44 and a beta of 1.40. General Motors has a 12 month low of $27.42 and a 12 month high of $59.39. 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 (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, beating the consensus estimate of $2.49 by $0.47. The business had revenue of $48.76 billion for the quarter, compared to the consensus estimate of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The company’s revenue was up 10.5% on a year-over-year basis. During the same period last year, the business posted $2.28 EPS. Research analysts predict that General Motors will post 10.35 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 0.84%. General Motors’s payout ratio is currently 5.12%.

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.