Raiffeisen Bank International AG Lowers Stock Holdings in General Motors Company (NYSE:GM)

Key Points

• Raiffeisen Bank International AG has reduced its holdings in General Motors by 38%, now owning a total of 8,467 shares valued at $396,000 after selling 5,179 shares in the first quarter.
• General Motors reported a quarterly earnings of $2.53 EPS, exceeding analysts' expectations, while revenue fell by 1.8% year-over-year to $47.12 billion.
• The company declared a $0.15 quarterly dividend, resulting in an annualized dividend yield of 1.1%, with a payout ratio of 9.52%.

Raiffeisen Bank International AG trimmed its position in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 38.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,467 shares of the auto manufacturer's stock after selling 5,179 shares during the period. Raiffeisen Bank International AG's holdings in General Motors were worth $396,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in shares of General Motors by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 14,066,883 shares of the auto manufacturer's stock worth $749,382,000 after purchasing an additional 228,408 shares in the last quarter. Northern Trust Corp increased its stake in shares of General Motors by 8.1% during the fourth quarter. Northern Trust Corp now owns 10,930,178 shares of the auto manufacturer's stock worth $582,251,000 after purchasing an additional 822,454 shares in the last quarter. ACR Alpine Capital Research LLC increased its stake in shares of General Motors by 4.0% during the first quarter. ACR Alpine Capital Research LLC now owns 7,691,140 shares of the auto manufacturer's stock worth $361,714,000 after purchasing an additional 293,736 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of General Motors by 0.6% during the fourth 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 worth $402,483,000 after purchasing an additional 48,525 shares in the last quarter. Finally, AustralianSuper Pty Ltd increased its stake in shares of General Motors by 38.9% during the first quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer's stock worth $287,428,000 after purchasing an additional 1,712,033 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Rory Harvey sold 23,977 shares of the stock in a transaction dated Tuesday, August 5th. The stock was 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 approximately $451,274.13. This trade represents a 73.80% decrease in their ownership of the stock. The transaction 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 insiders.

General Motors Trading Up 1.1%

GM stock traded up $0.57 during trading on Friday, hitting $53.52. The company had a trading volume of 4,125,133 shares, compared to its average volume of 10,305,823. General Motors Company has a one year low of $41.60 and a one year high of $61.24. The company has a current ratio of 1.22, a quick ratio of 1.05 and a debt-to-equity ratio of 1.42. The business has a 50-day moving average of $50.87 and a 200-day moving average of $48.85. The stock has a market cap of $50.96 billion, a PE 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 earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.01. General Motors had a return on equity of 12.98% and a net margin of 2.54%. The firm had revenue of $47.12 billion during the quarter, compared to analyst estimates of $45.87 billion. During the same period last year, the firm posted $3.06 EPS. The business's revenue was down 1.8% compared to the same quarter last year. Research analysts predict that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Announces Dividend

The firm also recently declared 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 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 dividend payout ratio is presently 9.52%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered shares of General Motors from a "buy" rating to a "hold" rating and set a $43.00 target price on the stock. in a report on Monday, April 14th. UBS Group increased their target price on shares of General Motors from $50.00 to $56.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Industrial Alliance Securities set a $70.00 target price on shares of General Motors in a report on Friday, July 11th. Royal Bank Of Canada reiterated an "outperform" rating on shares of General Motors in a report on Thursday, July 24th. Finally, Mizuho raised their price objective on shares of General Motors from $53.00 to $58.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, General Motors presently has an average rating of "Hold" and an average price target of $57.53.

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.