Ninety One SA PTY Ltd Sells 49,908 Shares of General Motors Company (NYSE:GM)

Ninety One SA PTY Ltd lessened its holdings in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 45.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,520 shares of the auto manufacturer's stock after selling 49,908 shares during the quarter. Ninety One SA PTY Ltd's holdings in General Motors were worth $2,844,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GM. Norges Bank bought a new stake in shares of General Motors in the fourth quarter worth $592,321,000. Assenagon Asset Management S.A. lifted its position in shares of General Motors by 305.6% in the first quarter. Assenagon Asset Management S.A. now owns 2,858,959 shares of the auto manufacturer's stock worth $134,457,000 after purchasing an additional 2,154,037 shares in the last quarter. National Bank of Canada FI lifted its position in shares of General Motors by 54.4% in the fourth quarter. National Bank of Canada FI now owns 3,352,523 shares of the auto manufacturer's stock worth $178,593,000 after purchasing an additional 1,180,936 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of General Motors by 4.2% in the fourth quarter. Franklin Resources Inc. now owns 29,273,136 shares of the auto manufacturer's stock worth $1,559,380,000 after purchasing an additional 1,170,816 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in General Motors during the fourth quarter worth $60,198,000. Institutional investors own 92.67% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on GM shares. Mizuho upped their price target on shares of General Motors from $53.00 to $58.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. The Goldman Sachs Group dropped their price target on shares of General Motors from $73.00 to $63.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Piper Sandler reaffirmed a "neutral" rating and set a $48.00 price target (up from $43.00) on shares of General Motors in a research report on Thursday, May 22nd. Barclays upped their price target on shares of General Motors from $40.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Finally, JPMorgan Chase & Co. dropped their price target on shares of General Motors from $64.00 to $53.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Four analysts have rated the stock with a sell rating, ten have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $53.35.

General Motors Stock Performance

Shares of NYSE GM traded up $0.21 during mid-day trading on Friday, reaching $53.36. 7,695,988 shares of the company were exchanged, compared to its average volume of 12,693,155. The company's 50-day simple moving average is $49.33 and its 200-day simple moving average is $48.76. The company has a quick ratio of 1.04, a current ratio of 1.21 and a debt-to-equity ratio of 1.46. The stock has a market capitalization of $51.30 billion, a P/E ratio of 7.69, a P/E/G ratio of 1.43 and a beta of 1.32. General Motors Company has a twelve month low of $38.96 and a twelve month high of $61.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.63 by $0.15. General Motors had a net margin of 3.08% and a return on equity of 14.30%. The company had revenue of $44.02 billion during the quarter, compared to analysts' expectations of $42.64 billion. During the same quarter last year, the company posted $2.62 EPS. General Motors's quarterly revenue was up 2.3% compared to the same quarter last year. As a group, research analysts predict that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 19th. Investors of record on Friday, June 6th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.12%. This is a positive change from General Motors's previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, June 6th. General Motors's dividend payout ratio (DPR) is currently 8.65%.

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.