Kentucky Retirement Systems Insurance Trust Fund Sells 3,525 Shares of General Motors (NYSE:GM)

Kentucky Retirement Systems Insurance Trust Fund reduced its position in General Motors (NYSE:GM) (TSE:GMM.U) by 9.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,276 shares of the auto manufacturer’s stock after selling 3,525 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in General Motors were worth $1,492,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Chicago Partners Investment Group LLC lifted its holdings in shares of General Motors by 15.9% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 11,382 shares of the auto manufacturer’s stock worth $510,000 after acquiring an additional 1,559 shares during the period. Donald Smith & CO. Inc. boosted its holdings in General Motors by 12.1% during the third quarter. Donald Smith & CO. Inc. now owns 1,629,573 shares of the auto manufacturer’s stock valued at $73,070,000 after purchasing an additional 175,860 shares in the last quarter. Foster & Motley Inc. grew its stake in shares of General Motors by 121.5% in the 3rd quarter. Foster & Motley Inc. now owns 47,169 shares of the auto manufacturer’s stock valued at $2,115,000 after purchasing an additional 25,869 shares during the period. Stoneridge Investment Partners LLC raised its holdings in shares of General Motors by 115.1% in the 3rd quarter. Stoneridge Investment Partners LLC now owns 178,443 shares of the auto manufacturer’s stock worth $8,001,000 after buying an additional 95,484 shares in the last quarter. Finally, Olstein Capital Management L.P. lifted its position in shares of General Motors by 14.9% during the 3rd quarter. Olstein Capital Management L.P. now owns 162,000 shares of the auto manufacturer’s stock worth $7,264,000 after buying an additional 21,000 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wolfe Research began coverage on General Motors in a report on Thursday, September 5th. They set a “peer perform” rating for the company. Royal Bank of Canada lifted their price target on shares of General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Nomura lowered shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective for the company. in a report on Monday, August 5th. Wells Fargo & Company lifted their target price 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, Sanford C. Bernstein raised their price target on General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Friday, October 25th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, General Motors presently has a consensus rating of “Hold” and a consensus target price of $56.92.

Insider Buying and Selling

In other General Motors news, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total value of $108,907.62. Following the transaction, the executive vice president now owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. The trade was a 18.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mary T. Barra sold 506,824 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the sale, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at $37,040,244.84. This represents a 42.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 653,511 shares of company stock valued at $35,012,844. 0.72% of the stock is owned by company insiders.

General Motors Trading Down 1.0 %

NYSE:GM opened at $57.04 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24. General Motors has a 1-year low of $27.42 and a 1-year high of $59.39. The firm has a market capitalization of $62.72 billion, a price-to-earnings ratio of 6.08, a PEG ratio of 0.44 and a beta of 1.40. The business’s 50-day moving average price is $49.72 and its two-hundred day moving average price is $47.30.

General Motors (NYSE:GM) (TSE:GMM.U) last announced 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. The business had revenue of $48.76 billion for the quarter, compared to the consensus estimate 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 period last year, the company posted $2.28 EPS. On average, equities analysts expect that General Motors will post 10.35 earnings per share for the current year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend 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.