General Motors (NYSE:GM) Position Trimmed by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lessened its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 0.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 9,676,908 shares of the auto manufacturer’s stock after selling 27,036 shares during the period. Charles Schwab Investment Management Inc. owned about 0.88% of General Motors worth $433,913,000 at the end of the most recent reporting period.

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

Insider Activity

In other General Motors news, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the transaction, the chief executive officer now owns 694,548 shares in the company, valued at $37,040,244.84. This trade represents a 42.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Rory Harvey sold 9,307 shares of General Motors stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total value of $502,671.07. Following the sale, the executive vice president now directly owns 8,513 shares in the company, valued at $459,787.13. The trade was a 52.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,034,351 shares of company stock worth $56,601,268. Company insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GM. Morgan Stanley lowered shares of General Motors from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $47.00 to $42.00 in a research report on Wednesday, September 25th. UBS Group boosted their target price on General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company raised their price target on General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group boosted their price target on General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Finally, Royal Bank of Canada lifted their target price on shares of General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $56.92.

General Motors Trading Up 1.3 %

Shares of GM stock opened at $55.60 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 $27.83 and a 1 year high of $59.39. The firm’s fifty day simple moving average is $50.50 and its 200 day simple moving average is $47.58. The firm has a market capitalization of $61.13 billion, a P/E ratio of 5.93, a price-to-earnings-growth ratio of 0.42 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The business had revenue of $48.76 billion during the quarter, compared to analyst estimates of $44.67 billion. During the same quarter in the prior year, the business earned $2.28 earnings per share. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. As a group, sell-side analysts predict that General Motors will post 10.35 EPS for the current year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s payout ratio is presently 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.