Brown Brothers Harriman & Co. Cuts Stock Position in General Motors (NYSE:GM)

Brown Brothers Harriman & Co. lessened its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 27.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,076 shares of the auto manufacturer’s stock after selling 1,159 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in General Motors were worth $138,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Centaurus Financial Inc. increased its holdings in General Motors by 9.1% in the 3rd quarter. Centaurus Financial Inc. now owns 12,682 shares of the auto manufacturer’s stock worth $569,000 after acquiring an additional 1,054 shares in the last quarter. Alpha DNA Investment Management LLC increased its holdings in General Motors by 11.9% in the 3rd quarter. Alpha DNA Investment Management LLC now owns 16,296 shares of the auto manufacturer’s stock worth $731,000 after acquiring an additional 1,739 shares in the last quarter. Larson Financial Group LLC increased its holdings in General Motors by 76.5% in the 3rd quarter. Larson Financial Group LLC now owns 5,138 shares of the auto manufacturer’s stock worth $230,000 after acquiring an additional 2,227 shares in the last quarter. Pitcairn Co. increased its holdings in General Motors by 8.3% in the 3rd quarter. Pitcairn Co. now owns 7,359 shares of the auto manufacturer’s stock worth $330,000 after acquiring an additional 565 shares in the last quarter. Finally, Algert Global LLC purchased a new stake in shares of General Motors during the third quarter worth $4,134,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Stock Up 1.3 %

Shares of GM opened at $55.50 on Thursday. The stock has a market capitalization of $61.03 billion, a PE ratio of 5.92, a P/E/G ratio of 0.45 and a beta of 1.40. General Motors has a 1 year low of $28.33 and a 1 year high of $61.24. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. The company’s 50-day simple moving average is $51.29 and its 200-day simple moving average is $47.94.

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 (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.47. The business had revenue of $48.76 billion for the quarter, compared to analysts’ expectations of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The business’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.28 earnings per share. Analysts forecast 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. Investors of record on Friday, December 6th will be paid 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 0.86%. General Motors’s payout ratio is 5.12%.

Analysts Set New Price Targets

GM has been the subject of a number of research reports. Wedbush upped their target price on shares of General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. UBS Group upped their target price on shares of General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. DZ Bank lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price for the company. in a report on Friday, October 11th. JPMorgan Chase & Co. upped their target price 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. Finally, The Goldman Sachs Group upped their price objective on shares of General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $56.92.

Insider Buying and Selling

In other General Motors news, CEO Mary T. Barra sold 506,824 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total value of $27,028,923.92. Following the transaction, the chief executive officer now directly owns 694,548 shares in the company, valued at $37,040,244.84. This represents a 42.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Rory Harvey sold 8,919 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $60.01, for a total transaction of $535,229.19. Following the completion of the transaction, the executive vice president now owns 8,513 shares in the company, valued at $510,865.13. This represents a 51.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,030,475 shares of company stock worth $56,509,286. Company insiders own 0.72% of the company’s stock.

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.