General Motors (NYSE:GM) Shares Sold by Lafayette Investments Inc.

Lafayette Investments Inc. lowered its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 6.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,507 shares of the auto manufacturer’s stock after selling 572 shares during the quarter. Lafayette Investments Inc.’s holdings in General Motors were worth $381,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Capital World Investors raised its position in General Motors by 14.6% during the first quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock worth $2,211,609,000 after acquiring an additional 6,201,777 shares during the period. Bank of New York Mellon Corp raised its position in shares of General Motors by 1.1% in the second quarter. Bank of New York Mellon Corp now owns 12,951,561 shares of the auto manufacturer’s stock valued at $601,730,000 after buying an additional 135,717 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in General Motors by 9.2% during the second quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock worth $600,291,000 after acquiring an additional 1,091,137 shares during the last quarter. LSV Asset Management grew its stake in General Motors by 2.6% during the 2nd quarter. LSV Asset Management now owns 8,847,440 shares of the auto manufacturer’s stock valued at $411,052,000 after acquiring an additional 223,260 shares in the last quarter. Finally, ACR Alpine Capital Research LLC lifted its stake in General Motors by 8.4% in the 1st quarter. ACR Alpine Capital Research LLC now owns 6,337,547 shares of the auto manufacturer’s stock worth $287,408,000 after purchasing an additional 492,693 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analyst Ratings Changes

GM has been the subject of several recent research reports. Morgan Stanley cut General Motors from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $47.00 to $42.00 in a report on Wednesday, September 25th. Royal Bank of Canada lifted their price objective on General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday. JPMorgan Chase & Co. increased their target price on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday. Wedbush boosted their price target on shares of General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Sanford C. Bernstein lowered shares of General Motors from an “outperform” rating to a “market perform” rating and set a $53.00 price objective for the company. in a research note on Monday, September 23rd. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $56.97.

General Motors Trading Up 0.8 %

Shares of NYSE:GM traded up $0.41 during trading on Thursday, reaching $53.33. The stock had a trading volume of 2,293,946 shares, compared to its average volume of 15,120,923. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. The stock has a market cap of $60.85 billion, a P/E ratio of 6.47, a PEG ratio of 0.56 and a beta of 1.42. The business has a fifty day moving average price of $47.52 and a 200-day moving average price of $46.09. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $54.29.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.47. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The company had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. During the same period in the previous year, the firm earned $2.28 earnings per share. General Motors’s revenue for the quarter was up 10.5% on a year-over-year basis. As a group, analysts anticipate that General Motors will post 9.95 earnings per share for the current fiscal year.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.90%. The ex-dividend date is Friday, December 6th. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

Insiders Place Their Bets

In related news, CFO Paul A. Jacobson bought 25,000 shares of the stock in a transaction dated Friday, July 26th. The stock was acquired at an average price of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the purchase, the chief financial officer now owns 261,872 shares in the company, valued at $11,551,173.92. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other General Motors news, CFO Paul A. Jacobson purchased 25,000 shares of General Motors stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the acquisition, the chief financial officer now owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Rory Harvey sold 2,302 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the sale, the executive vice president now owns 10,356 shares in the company, valued at approximately $489,942.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by 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.