General Motors (GM) Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC lowered its position in General Motors (NYSE:GM) (TSE:GMM.U) by 11.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,064,292 shares of the auto manufacturer’s stock after selling 267,760 shares during the quarter. Sterling Capital Management LLC owned about 0.15% of General Motors worth $83,356,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Global X Management Co. LLC increased its stake in General Motors by 23.0% in the second quarter. Global X Management Co. LLC now owns 9,654 shares of the auto manufacturer’s stock valued at $337,000 after acquiring an additional 1,805 shares during the last quarter. First Trust Advisors LP increased its stake in General Motors by 1.6% in the second quarter. First Trust Advisors LP now owns 968,894 shares of the auto manufacturer’s stock valued at $33,843,000 after acquiring an additional 14,860 shares during the last quarter. Convergence Investment Partners LLC increased its stake in General Motors by 6.0% in the second quarter. Convergence Investment Partners LLC now owns 7,339 shares of the auto manufacturer’s stock valued at $256,000 after acquiring an additional 417 shares during the last quarter. Rational Advisors LLC purchased a new stake in General Motors during the second quarter valued at about $276,000. Finally, Conning Inc. boosted its position in General Motors by 5.8% during the second quarter. Conning Inc. now owns 36,088 shares of the auto manufacturer’s stock valued at $1,261,000 after buying an additional 1,988 shares during the period. 73.06% of the stock is currently owned by hedge funds and other institutional investors.

In related news, EVP Stefan Jacoby sold 37,961 shares of the stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $42.87, for a total value of $1,627,388.07. Following the completion of the transaction, the executive vice president now directly owns 98,340 shares of the company’s stock, valued at $4,215,835.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Barry L. Engle II sold 50,443 shares of the stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $43.08, for a total transaction of $2,173,084.44. Following the completion of the transaction, the insider now directly owns 57,091 shares of the company’s stock, valued at $2,459,480.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 775,252 shares of company stock valued at $33,616,642. 0.04% of the stock is owned by insiders.

Several analysts have issued reports on GM shares. Instinet restated a “buy” rating and set a $43.00 price target on shares of General Motors in a research report on Tuesday, October 3rd. Bank of America upgraded shares of General Motors from a “neutral” rating to a “buy” rating and upped their price target for the company from $40.00 to $57.00 in a research report on Tuesday, October 3rd. Deutsche Bank restated a “buy” rating and set a $51.00 price target on shares of General Motors in a research report on Monday, October 2nd. Citigroup restated a “buy” rating and set a $53.00 price target on shares of General Motors in a research report on Monday, October 2nd. Finally, Piper Jaffray Companies restated a “buy” rating and set a $44.00 price target on shares of General Motors in a research report on Tuesday, September 12th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $43.70.

General Motors (GM) opened at $41.53 on Wednesday. General Motors has a one year low of $31.92 and a one year high of $46.76. The stock has a market cap of $59,188.40, a PE ratio of 6.73, a P/E/G ratio of 0.72 and a beta of 1.54. The company has a quick ratio of 0.79, a current ratio of 0.94 and a debt-to-equity ratio of 1.54.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, October 24th. The auto manufacturer reported $1.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.25. General Motors had a net margin of 2.00% and a return on equity of 20.95%. The company had revenue of $30.48 billion during the quarter, compared to the consensus estimate of $29.93 billion. During the same period in the prior year, the firm earned $1.72 earnings per share. General Motors’s revenue was down 16.6% on a year-over-year basis. analysts anticipate that General Motors will post 6.24 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Friday, December 8th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date is Thursday, December 7th. General Motors’s payout ratio is currently 77.95%.

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General Motors Profile

General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.

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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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