Keystone Investors PTE Ltd. Cuts Position in General Motors Company (NYSE:GM)

Key Points

• Keystone Investors PTE Ltd. significantly reduced its stake in General Motors by 88.2%, leaving them with only 6,983 shares valued at $328,000 after selling 52,362 shares in Q1.
• Institutional ownership stands at 92.67%, with various investors such as Susquehanna Fundamental Investments LLC acquiring a new position valued at approximately $25.4 million.
• General Motors announced a quarterly dividend of $0.15 to be paid on September 18th, representing a modest annualized yield of 1.1%.

Keystone Investors PTE Ltd. trimmed its stake in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 88.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,983 shares of the auto manufacturer's stock after selling 52,362 shares during the quarter. Keystone Investors PTE Ltd.'s holdings in General Motors were worth $328,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in GM. Measured Risk Portfolios Inc. bought a new stake in General Motors in the fourth quarter worth $27,000. Costello Asset Management INC bought a new stake in General Motors in the first quarter worth $32,000. Transce3nd LLC bought a new stake in General Motors in the fourth quarter worth $34,000. North Capital Inc. bought a new stake in General Motors in the first quarter worth $40,000. Finally, Ossiam bought a new position in shares of General Motors during the fourth quarter valued at $44,000. 92.67% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Rory Harvey sold 23,977 shares of General Motors stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $53.01, for a total value of $1,271,020.77. Following the transaction, the executive vice president directly owned 8,513 shares in the company, valued at approximately $451,274.13. This trade represents a 73.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.54% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on GM shares. JPMorgan Chase & Co. upped their price target on General Motors from $56.00 to $60.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Bank of America lowered their price target on General Motors from $65.00 to $62.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Mizuho upped their price target on General Motors from $53.00 to $58.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of General Motors in a report on Thursday, July 24th. Finally, Citigroup upped their price objective on General Motors from $59.00 to $61.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $57.53.

General Motors Price Performance

General Motors stock traded up $0.02 during midday trading on Tuesday, reaching $54.03. 4,141,087 shares of the stock traded hands, compared to its average volume of 11,990,966. The stock's fifty day moving average is $51.08 and its 200-day moving average is $48.78. General Motors Company has a 12 month low of $41.60 and a 12 month high of $61.24. The stock has a market cap of $51.44 billion, a P/E ratio of 8.58, a PEG ratio of 1.13 and a beta of 1.36. The company has a quick ratio of 1.05, a current ratio of 1.22 and a debt-to-equity ratio of 1.42.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its quarterly earnings data on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.01. General Motors had a return on equity of 12.98% and a net margin of 2.54%. The business had revenue of $47.12 billion during the quarter, compared to analyst estimates of $45.87 billion. During the same period last year, the company earned $3.06 EPS. The company's revenue for the quarter was down 1.8% on a year-over-year basis. As a group, equities research analysts anticipate that General Motors Company will post 11.44 EPS for the current year.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, September 5th will be issued a $0.15 dividend. The ex-dividend date is Friday, September 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.1%. General Motors's dividend payout ratio (DPR) is currently 9.52%.

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.