BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 55,810 Shares of General Motors (NYSE:GM)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lessened its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 6.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 813,223 shares of the auto manufacturer’s stock after selling 55,810 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned about 0.07% of General Motors worth $36,465,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in GM. Bank of New York Mellon Corp raised its stake in General Motors by 1.1% during the second quarter. Bank of New York Mellon Corp now owns 12,951,561 shares of the auto manufacturer’s stock worth $601,730,000 after buying an additional 135,717 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of General Motors by 9.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock valued at $600,291,000 after purchasing an additional 1,091,137 shares during the period. Diamond Hill Capital Management Inc. boosted its position in shares of General Motors by 3.9% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 11,113,063 shares of the auto manufacturer’s stock valued at $498,310,000 after purchasing an additional 421,989 shares in the last quarter. LSV Asset Management grew its stake in General Motors by 2.6% during the second quarter. LSV Asset Management now owns 8,847,440 shares of the auto manufacturer’s stock worth $411,052,000 after purchasing an additional 223,260 shares during the period. Finally, Swedbank AB acquired a new position in General Motors in the first quarter valued at approximately $159,750,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on GM shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $53.00 price objective on shares of General Motors in a research report on Tuesday, September 10th. Royal Bank of Canada increased their price objective on shares of General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their target price on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company boosted their price objective on General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a report on Wednesday, October 23rd. Finally, DZ Bank lowered 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 investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, General Motors presently has a consensus rating of “Hold” and a consensus target price of $56.92.

General Motors Stock Performance

GM stock opened at $58.52 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. The firm has a market cap of $64.35 billion, a PE ratio of 6.24, a P/E/G ratio of 0.42 and a beta of 1.40. The business has a 50 day moving average of $50.74 and a 200-day moving average of $47.68. General Motors has a 12-month low of $27.93 and a 12-month high of $59.39.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.47. The firm had revenue of $48.76 billion during 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 business’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.28 EPS. As a group, sell-side analysts expect that General Motors will post 10.35 earnings per share for the current year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date is Friday, December 6th. General Motors’s payout ratio is 5.12%.

Insider Activity

In other news, EVP Craig B. Glidden sold 383,142 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the transaction, the executive vice president now owns 122,465 shares of the company’s stock, valued at $6,935,192.95. This represents a 75.78 % decrease in their position. The sale was disclosed in a filing 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 dated 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 directly owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. This trade represents a 42.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,034,351 shares of company stock valued at $56,601,268 in the last three months. Company 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.