General Motors Company (NYSE:GM) Position Trimmed by Mutual of America Capital Management LLC

Key Points

• Mutual of America Capital Management LLC has reduced its holdings in General Motors by 12.2%, owning 115,786 shares worth approximately $5.45 million after selling 16,017 shares in the first quarter.
• General Motors reported earnings of $2.53 EPS for the last quarter, slightly beating estimates, with total revenue of $47.12 billion, down 1.8% from the previous year.
• The company has announced a quarterly dividend of $0.15 per share with a 1.1% dividend yield, set to be paid on September 18th.

Mutual of America Capital Management LLC cut its stake in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 12.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 115,786 shares of the auto manufacturer's stock after selling 16,017 shares during the period. Mutual of America Capital Management LLC's holdings in General Motors were worth $5,445,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of GM. Brighton Jones LLC boosted its position in shares of General Motors by 456.1% in the fourth quarter. Brighton Jones LLC now owns 38,717 shares of the auto manufacturer's stock worth $2,062,000 after acquiring an additional 31,755 shares during the last quarter. Advisory Services Network LLC lifted its position in General Motors by 6.6% during the fourth quarter. Advisory Services Network LLC now owns 45,258 shares of the auto manufacturer's stock valued at $2,411,000 after buying an additional 2,796 shares in the last quarter. Azimuth Capital Investment Management LLC acquired a new position in General Motors during the fourth quarter valued at approximately $211,000. DRW Securities LLC acquired a new position in General Motors during the fourth quarter valued at approximately $221,000. Finally, Bessemer Group Inc. lifted its position in General Motors by 0.4% during the fourth quarter. Bessemer Group Inc. now owns 53,619 shares of the auto manufacturer's stock valued at $2,856,000 after buying an additional 226 shares in the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Stock Up 0.5%

Shares of NYSE:GM traded up $0.29 during midday trading on Monday, reaching $53.82. The company had a trading volume of 1,483,253 shares, compared to its average volume of 12,006,642. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.22 and a quick ratio of 1.05. The stock's fifty day moving average price is $50.95 and its 200-day moving average price is $48.78. The stock has a market capitalization of $51.24 billion, a P/E ratio of 8.54, a PEG ratio of 1.13 and a beta of 1.36. General Motors Company has a one year low of $41.60 and a one year high of $61.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.52 by $0.01. The business had revenue of $47.12 billion during the quarter, compared to analyst estimates of $45.87 billion. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The business's revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.06 earnings per share. Equities research analysts expect that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, September 5th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, September 5th. This represents a $0.60 annualized dividend and a yield of 1.1%. General Motors's payout ratio is presently 9.52%.

Insiders Place Their Bets

In other General Motors news, EVP Rory Harvey sold 23,977 shares of the business's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $53.01, for a total transaction of $1,271,020.77. Following the completion of the sale, the executive vice president owned 8,513 shares in the company, valued at $451,274.13. The trade was a 73.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.54% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on GM. UBS Group lifted their price target on shares of General Motors from $50.00 to $56.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. Benchmark began coverage on shares of General Motors in a research report on Monday, July 21st. They set a "buy" rating and a $65.00 price target on the stock. Sanford C. Bernstein set a $36.00 price target on shares of General Motors in a research report on Monday, May 5th. Industrial Alliance Securities set a $70.00 price target on shares of General Motors in a research report on Friday, July 11th. Finally, Wedbush reaffirmed an "outperform" rating and set a $55.00 price target on shares of General Motors in a research report on Wednesday, July 23rd. Two investment 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. According to data from MarketBeat.com, General Motors currently has an average rating of "Hold" and an average price target of $57.53.

General Motors 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.