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

Other hedge funds and other institutional investors have also made changes to their positions in the company. Measured Risk Portfolios Inc. purchased a new position in shares of General Motors in the fourth quarter valued at $27,000. Transce3nd LLC purchased a new position in General Motors in the 4th quarter valued at about $34,000. North Capital Inc. acquired a new stake in shares of General Motors during the first quarter valued at about $40,000. Ossiam purchased a new stake in shares of General Motors during the fourth quarter worth about $44,000. Finally, Princeton Global Asset Management LLC lifted its stake in shares of General Motors by 141.0% in the first quarter. Princeton Global Asset Management LLC now owns 1,070 shares of the auto manufacturer's stock worth $50,000 after acquiring an additional 626 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Industrial Alliance Securities set a $70.00 price target on shares of General Motors in a research note on Friday, July 11th. JPMorgan Chase & Co. boosted their target price on shares of General Motors from $56.00 to $60.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Barclays increased their price target on shares of General Motors from $45.00 to $55.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. CLSA raised General Motors to a "moderate buy" rating in a report on Monday, July 7th. Finally, Wells Fargo & Company increased their target price on General Motors from $34.00 to $38.00 and gave the stock an "underweight" rating in a report on Wednesday, July 23rd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $57.53.

General Motors Stock Performance

GM opened at $52.93 on Friday. The business has a 50 day moving average price of $50.87 and a two-hundred day moving average price of $48.85. 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 company has a market capitalization of $50.39 billion, a price-to-earnings ratio of 8.40, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36. General Motors Company has a 1-year low of $41.09 and a 1-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 EPS for the quarter, topping the consensus estimate of $2.52 by $0.01. The firm had revenue of $47.12 billion for the quarter, compared to analysts' expectations of $45.87 billion. General Motors had a net margin of 2.54% and a return on equity of 12.98%. General Motors's revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the previous year, the business earned $3.06 earnings per share. Research analysts predict that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, September 5th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend 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 Activity at General Motors

In related news, EVP Rory Harvey sold 23,977 shares of General Motors stock in a transaction dated 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 owned 8,513 shares of the company's stock, valued at approximately $451,274.13. This trade represents a 73.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

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.

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