General Motors (NYSE:GM) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC lessened its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 14.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,080,298 shares of the auto manufacturer’s stock after selling 511,877 shares during the period. Clearbridge Investments LLC owned about 0.27% of General Motors worth $143,111,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of GM. LifeSteps Financial Inc. acquired a new position in shares of General Motors during the 1st quarter worth approximately $25,000. Wellington Shields Capital Management LLC acquired a new position in General Motors during the second quarter worth $28,000. Fortitude Family Office LLC grew its position in shares of General Motors by 56.1% in the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after purchasing an additional 225 shares during the period. Montag A & Associates Inc. purchased a new stake in shares of General Motors during the first quarter worth about $30,000. Finally, YHB Investment Advisors Inc. acquired a new position in shares of General Motors during the 1st quarter worth about $32,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insider Transactions at General Motors

In other General Motors news, CFO Paul A. Jacobson acquired 25,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average price of $44.11 per share, for a total transaction 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. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Rory Harvey sold 2,302 shares of General Motors 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 completion of the transaction, the executive vice president now owns 10,356 shares in the company, valued at approximately $489,942.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Paul A. Jacobson bought 25,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were purchased 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 directly owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. The disclosure for this purchase can be found here. Corporate insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GM. Nomura downgraded General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price on the stock. in a research report on Monday, August 5th. UBS Group increased their target price on shares of General Motors from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Sanford C. Bernstein downgraded 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 report on Monday, September 23rd. Finally, Wolfe Research started coverage on General Motors in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $55.47.

General Motors Stock Performance

Shares of GM stock opened at $44.87 on Wednesday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18. The firm has a market cap of $51.19 billion, a P/E ratio of 5.49, a P/E/G ratio of 0.56 and a beta of 1.43. The firm’s 50 day moving average price is $45.89 and its 200-day moving average price is $45.62. General Motors has a one year low of $26.30 and a one year high of $50.50.

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

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

General Motors Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 1.07%. The ex-dividend date was Friday, September 6th. General Motors’s dividend payout ratio is currently 5.87%.

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.