General Motors (NYSE:GM) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale reduced its position in General Motors (NYSE:GM) (TSE:GMM.U) by 0.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 477,533 shares of the auto manufacturer’s stock after selling 4,561 shares during the period. DekaBank Deutsche Girozentrale’s holdings in General Motors were worth $21,880,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. boosted its holdings in shares of General Motors by 34.5% in the second quarter. SJS Investment Consulting Inc. now owns 792 shares of the auto manufacturer’s stock valued at $37,000 after acquiring an additional 203 shares during the period. Fortitude Family Office LLC boosted its stake in General Motors by 56.1% during the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after purchasing an additional 225 shares during the period. SeaCrest Wealth Management LLC grew its position in General Motors by 3.5% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 6,804 shares of the auto manufacturer’s stock worth $316,000 after purchasing an additional 227 shares during the last quarter. Institute for Wealth Management LLC. increased its stake in General Motors by 0.6% in the second quarter. Institute for Wealth Management LLC. now owns 36,624 shares of the auto manufacturer’s stock valued at $1,702,000 after purchasing an additional 230 shares during the period. Finally, Beech Hill Advisors Inc. raised its holdings in shares of General Motors by 1.6% in the second quarter. Beech Hill Advisors Inc. now owns 15,233 shares of the auto manufacturer’s stock valued at $708,000 after buying an additional 233 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on GM. StockNews.com lowered General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Wells Fargo & Company dropped their target price on General Motors from $34.00 to $33.00 and set an “underweight” rating on the stock in a report on Tuesday, September 10th. JPMorgan Chase & Co. increased their price target on General Motors from $60.00 to $61.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Nomura Securities raised shares of General Motors to a “strong sell” rating in a research note on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $53.00 target price on shares of General Motors in a research note on Tuesday, September 10th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $55.27.

General Motors Stock Performance

General Motors stock opened at $46.30 on Friday. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $50.50. The company has a market capitalization of $52.83 billion, a price-to-earnings ratio of 5.66, a PEG ratio of 0.52 and a beta of 1.43. The stock has a fifty day moving average of $46.19 and a two-hundred day moving average of $45.00. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.67 by $0.39. The firm had revenue of $47.97 billion during the quarter, compared to analysts’ expectations of $45.13 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.91 EPS. On average, analysts anticipate that General Motors will post 9.95 EPS for the current fiscal year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Friday, September 6th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Friday, September 6th. General Motors’s payout ratio is 5.87%.

General Motors announced that its board has initiated a share buyback plan on Tuesday, June 11th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the auto manufacturer to reacquire up to 10.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other General Motors news, CFO Paul A. Jacobson purchased 25,000 shares of General Motors stock in a transaction on Friday, July 26th. The shares were bought at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the purchase, the chief financial officer now directly owns 261,872 shares in the company, valued at approximately $11,551,173.92. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Paul A. Jacobson acquired 25,000 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was bought at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the purchase, the chief financial officer now directly owns 261,872 shares in the company, valued at approximately $11,551,173.92. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Rory Harvey sold 12,795 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $49.02, for a total transaction of $627,210.90. Following the completion of the sale, the executive vice president now directly owns 8,513 shares in the company, valued at $417,307.26. The disclosure for this sale can be found here. 0.72% of the stock is owned by company 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.