Keystone Investors PTE Ltd. Sells 52,362 Shares of 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. cut its holdings in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 88.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. 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 reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in General Motors by 3.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,834,503 shares of the auto manufacturer's stock worth $86,277,000 after buying an additional 66,259 shares during the last quarter. Deutsche Bank AG boosted its holdings in General Motors by 2.3% during the first quarter. Deutsche Bank AG now owns 4,380,940 shares of the auto manufacturer's stock worth $206,036,000 after buying an additional 96,490 shares during the last quarter. Chicago Partners Investment Group LLC boosted its holdings in General Motors by 25.2% during the first quarter. Chicago Partners Investment Group LLC now owns 13,457 shares of the auto manufacturer's stock worth $612,000 after buying an additional 2,707 shares during the last quarter. ASR Vermogensbeheer N.V. bought a new position in General Motors during the first quarter worth about $5,757,000. Finally, Fi3 FINANCIAL ADVISORS LLC boosted its holdings in General Motors by 40.3% during the first quarter. Fi3 FINANCIAL ADVISORS LLC now owns 6,231 shares of the auto manufacturer's stock worth $293,000 after buying an additional 1,790 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Stock Performance

GM traded up $0.57 during trading hours on Friday, reaching $53.52. The company's stock had a trading volume of 4,125,133 shares, compared to its average volume of 10,305,823. General Motors Company has a 52 week low of $41.60 and a 52 week high of $61.24. The company's 50-day moving average is $50.95 and its 200-day moving average is $48.82. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.05 and a current ratio of 1.22. The firm has a market cap of $50.96 billion, a PE ratio of 8.50, a price-to-earnings-growth ratio of 1.13 and a beta of 1.36.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $45.87 billion. During the same quarter in the prior year, the business earned $3.06 EPS. The firm's revenue for the quarter was down 1.8% on a year-over-year basis. On average, equities analysts forecast that General Motors Company will post 11.44 EPS for the current year.

General Motors Dividend Announcement

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

Insider Buying and Selling

In other General Motors news, EVP Rory Harvey sold 23,977 shares of the company's 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 of the company's stock, valued at $451,274.13. This represents a 73.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on GM. CLSA upgraded General Motors to a "moderate buy" rating in a report on Monday, July 7th. Piper Sandler reiterated a "neutral" rating and set a $48.00 price objective (up previously from $43.00) on shares of General Motors in a report on Thursday, May 22nd. Wedbush restated an "outperform" rating and issued a $55.00 target price on shares of General Motors in a research note on Wednesday, July 23rd. Benchmark began coverage on General Motors in a research note on Monday, July 21st. They issued a "buy" rating and a $65.00 target price on the stock. Finally, Bank of America cut their target price on General Motors from $65.00 to $62.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, General Motors currently has a consensus rating of "Hold" and an average target price of $57.53.

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.