General Motors (NYSE:GM) Shares Sold by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. reduced its position in General Motors (NYSE:GM) (TSE:GMM.U) by 58.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,362 shares of the auto manufacturer’s stock after selling 66,454 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in General Motors were worth $2,079,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Point72 Hong Kong Ltd boosted its stake in shares of General Motors by 15,451.7% in the 3rd quarter. Point72 Hong Kong Ltd now owns 197,351 shares of the auto manufacturer’s stock valued at $8,849,000 after buying an additional 196,082 shares during the period. True Wealth Design LLC boosted its stake in shares of General Motors by 1,273.8% in the 3rd quarter. True Wealth Design LLC now owns 838 shares of the auto manufacturer’s stock valued at $38,000 after buying an additional 777 shares during the period. Maverick Capital Ltd. boosted its stake in shares of General Motors by 6.8% in the 3rd quarter. Maverick Capital Ltd. now owns 23,428 shares of the auto manufacturer’s stock valued at $1,051,000 after buying an additional 1,488 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of General Motors by 972.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer’s stock valued at $94,300,000 after buying an additional 1,906,964 shares during the period. Finally, Vinva Investment Management Ltd boosted its stake in shares of General Motors by 20.8% in the 3rd quarter. Vinva Investment Management Ltd now owns 74,114 shares of the auto manufacturer’s stock valued at $3,445,000 after buying an additional 12,771 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other General Motors news, President Mark L. Reuss sold 122,283 shares of the stock in a transaction on 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 transaction, the president now owns 126,907 shares in the company, valued at approximately $7,000,190.12. This represents a 49.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 value of $27,028,923.92. Following the completion of the transaction, the chief executive officer now owns 694,548 shares of the company’s stock, valued at $37,040,244.84. The trade was a 42.19 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,030,475 shares of company stock worth $56,509,286. 0.72% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

GM has been the subject of several recent research reports. Wedbush lifted their price objective on General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Nomura Securities upgraded General Motors to a “strong sell” rating in a research note on Monday, August 5th. DZ Bank cut General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price for the company. in a research note on Friday, October 11th. UBS Group boosted their target price on General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada boosted their target price on General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, General Motors has an average rating of “Hold” and a consensus price target of $56.92.

General Motors Price Performance

Shares of NYSE GM opened at $55.59 on Monday. 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 stock has a fifty day moving average price of $51.56 and a 200 day moving average price of $48.10. General Motors has a 1-year low of $31.52 and a 1-year high of $61.24. The company has a market cap of $61.13 billion, a PE ratio of 5.93, a P/E/G ratio of 0.42 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results 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. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The firm had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. During the same period last year, the company earned $2.28 earnings per share. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. Sell-side analysts forecast that General Motors will post 10.35 EPS for the current year.

General Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.86%. The ex-dividend date is Friday, December 6th. General Motors’s payout ratio is 5.12%.

General Motors Company 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.