General Motors (NYSE:GM) Shares Sold by XTX Topco Ltd

XTX Topco Ltd lessened its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 17.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 42,262 shares of the auto manufacturer’s stock after selling 9,239 shares during the period. XTX Topco Ltd’s holdings in General Motors were worth $1,963,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GM. Capital World Investors boosted its stake in General Motors by 14.6% during the 1st quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock worth $2,211,609,000 after purchasing an additional 6,201,777 shares during the last quarter. Putnam Investments LLC lifted its stake in shares of General Motors by 16.8% in the fourth quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock worth $726,942,000 after buying an additional 2,905,689 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in General Motors by 21.9% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock worth $650,062,000 after acquiring an additional 3,247,050 shares during the last quarter. Bank of New York Mellon Corp grew its stake in General Motors by 1.1% during the 2nd 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 acquiring an additional 135,717 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in General Motors by 9.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock valued at $600,291,000 after acquiring an additional 1,091,137 shares during the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other General Motors news, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the transaction, the executive vice president now owns 10,356 shares in the company, valued at approximately $489,942.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, 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 value of $108,907.62. Following the transaction, the executive vice president now owns 10,356 shares in the company, valued at approximately $489,942.36. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Paul A. Jacobson acquired 25,000 shares of General Motors stock in a transaction dated 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 transaction, the chief financial officer now directly owns 261,872 shares in the company, valued at approximately $11,551,173.92. The disclosure for this purchase can be found here. Insiders own 0.72% of the company’s stock.

General Motors Stock Performance

NYSE GM opened at $48.62 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99. The company has a market cap of $55.47 billion, a P/E ratio of 5.94, a P/E/G ratio of 0.52 and a beta of 1.43. The stock has a 50-day moving average of $46.28 and a two-hundred day moving average of $45.17. General Motors has a 1-year low of $26.30 and a 1-year high of $50.50.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.67 by $0.39. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The firm had revenue of $47.97 billion for the quarter, compared to the consensus estimate of $45.13 billion. During the same period in the prior year, the firm earned $1.91 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, analysts anticipate that General Motors will post 9.95 EPS for the current year.

General Motors declared that its Board of Directors has approved a share repurchase plan on Tuesday, June 11th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the auto manufacturer to purchase up to 10.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, September 6th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date was Friday, September 6th. General Motors’s dividend payout ratio is currently 5.87%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Wedbush restated an “outperform” rating and set a $55.00 target price on shares of General Motors in a report on Wednesday, July 24th. Nomura lowered General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective on the stock. in a research note on Monday, August 5th. Bank of America reiterated a “buy” rating and set a $75.00 price target on shares of General Motors in a report on Wednesday, June 12th. JPMorgan Chase & Co. upped their price objective on shares of General Motors from $60.00 to $61.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Morgan Stanley cut shares of General Motors from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $46.00 to $47.00 in a research report on Wednesday, July 24th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $55.27.

About General Motors

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.