Levin Capital Strategies L.P. Sells 151,096 Shares of General Motors Company (NYSE:GM)

Key Points

• Levin Capital Strategies L.P. has reduced its stake in General Motors by 39.6%, leaving it with 230,367 shares worth approximately $10.83 million.
• General Motors reported a quarterly earnings per share (EPS) of $2.53, surpassing expectations with a revenue of $47.12 billion, though revenue was down 1.8% year-over-year.
• The company has declared a quarterly dividend of $0.15 per share, representing an annual yield of 1.1% based on the current payout ratio of 9.52%.

Levin Capital Strategies L.P. trimmed its holdings in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 39.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 230,367 shares of the auto manufacturer's stock after selling 151,096 shares during the period. Levin Capital Strategies L.P.'s holdings in General Motors were worth $10,834,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its position in General Motors by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 14,066,883 shares of the auto manufacturer's stock valued at $749,382,000 after acquiring an additional 228,408 shares in the last quarter. Northern Trust Corp increased its position in General Motors by 8.1% in the 4th quarter. Northern Trust Corp now owns 10,930,178 shares of the auto manufacturer's stock valued at $582,251,000 after acquiring an additional 822,454 shares in the last quarter. ACR Alpine Capital Research LLC increased its position in General Motors by 4.0% in the 1st quarter. ACR Alpine Capital Research LLC now owns 7,691,140 shares of the auto manufacturer's stock valued at $361,714,000 after acquiring an additional 293,736 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in General Motors by 0.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,555,521 shares of the auto manufacturer's stock valued at $402,483,000 after acquiring an additional 48,525 shares in the last quarter. Finally, AustralianSuper Pty Ltd increased its position in General Motors by 38.9% in the 1st quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer's stock valued at $287,428,000 after acquiring an additional 1,712,033 shares in the last quarter. 92.67% of the stock is owned by institutional investors.

General Motors Stock Up 1.1%

GM traded up $0.57 during trading on Friday, reaching $53.52. The company had a trading volume of 4,125,133 shares, compared to its average volume of 10,305,823. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.22 and a quick ratio of 1.05. General Motors Company has a 12 month low of $41.60 and a 12 month high of $61.24. The business's fifty day moving average price is $50.95 and its 200 day moving average price is $48.84. The company has a market cap of $50.96 billion, a P/E ratio of 8.50, a PEG ratio of 1.12 and a beta of 1.36.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced 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 net margin of 2.54% and a return on equity of 12.98%. The firm had revenue of $47.12 billion for the quarter, compared to analyst estimates of $45.87 billion. During the same quarter in the previous year, the firm posted $3.06 earnings per share. The business's revenue was down 1.8% on a year-over-year basis. Equities analysts anticipate that General Motors Company will post 11.44 EPS for the current year.

General Motors Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GM. Barclays raised their price objective on shares of General Motors from $45.00 to $55.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Bank of America lowered their price objective on shares of General Motors from $65.00 to $62.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. CLSA upgraded shares of General Motors to a "moderate buy" rating in a research report on Monday, July 7th. Royal Bank Of Canada restated an "outperform" rating on shares of General Motors in a research report on Thursday, July 24th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of General Motors in a research report on Friday, July 11th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $57.53.

Insider Activity at General Motors

In other 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 value of $1,271,020.77. Following the sale, the executive vice president owned 8,513 shares of the company's stock, valued at $451,274.13. The trade was a 73.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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.