General Motors Company (NYSE:GM) Stake Lessened by Gulf International Bank UK Ltd

Key Points

• Gulf International Bank UK Ltd decreased its stake in General Motors by 25.2%, selling 22,272 shares and holding 66,120 shares valued at $3,109,000.
• General Motors reported a quarterly earnings per share of $2.53, exceeding expectations, with revenues of $47.12 billion despite a 1.8% year-over-year decline.
• The company announced a quarterly dividend of $0.15 per share, with a dividend yield of 1.1% and a dividend payout ratio of 9.52%.

Gulf International Bank UK Ltd cut its holdings in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 25.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 66,120 shares of the auto manufacturer's stock after selling 22,272 shares during the quarter. Gulf International Bank UK Ltd's holdings in General Motors were worth $3,109,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Operose Advisors LLC increased its position in shares of General Motors by 18.7% during the fourth quarter. Operose Advisors LLC now owns 1,413 shares of the auto manufacturer's stock worth $75,000 after purchasing an additional 223 shares in the last quarter. Hohimer Wealth Management LLC grew its holdings in General Motors by 0.3% in the 1st quarter. Hohimer Wealth Management LLC now owns 70,377 shares of the auto manufacturer's stock valued at $3,310,000 after buying an additional 230 shares in the last quarter. HHM Wealth Advisors LLC grew its holdings in General Motors by 14.4% in the 1st quarter. HHM Wealth Advisors LLC now owns 1,838 shares of the auto manufacturer's stock valued at $86,000 after buying an additional 232 shares in the last quarter. Aaron Wealth Advisors LLC grew its holdings in General Motors by 3.6% in the 1st quarter. Aaron Wealth Advisors LLC now owns 6,709 shares of the auto manufacturer's stock valued at $316,000 after buying an additional 235 shares in the last quarter. Finally, Burford Brothers Inc. grew its holdings in General Motors by 2.8% in the 1st quarter. Burford Brothers Inc. now owns 8,718 shares of the auto manufacturer's stock valued at $410,000 after buying an additional 241 shares in the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on GM. Industrial Alliance Securities set a $70.00 target price on General Motors in a report on Friday, July 11th. Citigroup upped their price target on General Motors from $59.00 to $61.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of General Motors in a research note on Thursday, July 24th. BNP Paribas raised General Motors to a "strong-buy" rating in a research note on Monday, May 5th. Finally, Sanford C. Bernstein set a $36.00 price target on General Motors in a research note on Monday, May 5th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $57.53.

Insiders Place Their Bets

In other news, CAO Christopher Hatto sold 36,804 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $55.10, for a total transaction of $2,027,900.40. Following the completion of the sale, the chief accounting officer owned 12,007 shares in the company, valued at approximately $661,585.70. This represents a 75.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Rory Harvey sold 23,977 shares of the 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. This trade represents a 73.80% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.54% of the company's stock.

General Motors Stock Performance

GM stock traded down $0.11 on Friday, reaching $56.31. The company's stock had a trading volume of 5,594,331 shares, compared to its average volume of 9,995,043. General Motors Company has a 52 week low of $41.60 and a 52 week high of $61.24. The company has a market capitalization of $53.61 billion, a P/E ratio of 8.94, a price-to-earnings-growth ratio of 1.19 and a beta of 1.36. The firm has a fifty day moving average of $51.70 and a two-hundred day moving average of $48.92. 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 (NYSE:GM - Get Free Report) TSE: GMM.U last issued its quarterly earnings data 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. 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 in the prior year, the company posted $3.06 EPS. The business's revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, analysts predict that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

The company also recently declared 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. 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 (DPR) is presently 9.52%.

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.