Mutual of America Capital Management LLC Trims Stock Position in General Motors (NYSE:GM)

Mutual of America Capital Management LLC decreased its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 3.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 138,474 shares of the auto manufacturer’s stock after selling 5,513 shares during the quarter. Mutual of America Capital Management LLC’s holdings in General Motors were worth $6,209,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. SJS Investment Consulting Inc. raised its position in General Motors by 34.5% in the 2nd quarter. SJS Investment Consulting Inc. now owns 792 shares of the auto manufacturer’s stock valued at $37,000 after purchasing an additional 203 shares during the last quarter. Allworth Financial LP raised its holdings in shares of General Motors by 2.3% in the third quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer’s stock valued at $412,000 after buying an additional 205 shares during the last quarter. Fortitude Family Office LLC boosted its stake in shares of General Motors by 56.1% during the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after buying an additional 225 shares during the period. SeaCrest Wealth Management LLC boosted its stake in shares of General Motors by 3.5% during the second quarter. SeaCrest Wealth Management LLC now owns 6,804 shares of the auto manufacturer’s stock worth $316,000 after buying an additional 227 shares during the period. Finally, Institute for Wealth Management LLC. grew its holdings in shares of General Motors by 0.6% during the second quarter. Institute for Wealth Management LLC. now owns 36,624 shares of the auto manufacturer’s stock worth $1,702,000 after buying an additional 230 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insider Activity at General Motors

In other news, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the sale, the chief executive officer now owns 694,548 shares in the company, valued at $37,040,244.84. This trade represents a 42.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Rory Harvey sold 2,302 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were 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 of the company’s stock, valued at $489,942.36. The trade was a 18.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 653,511 shares of company stock valued at $35,012,844. 0.72% of the stock is owned by insiders.

General Motors Stock Performance

Shares of GM opened at $55.12 on Wednesday. The company has a 50-day moving average of $50.10 and a two-hundred day moving average of $47.48. The stock has a market cap of $60.61 billion, a P/E ratio of 5.88, a PEG ratio of 0.43 and a beta of 1.40. General Motors has a 12-month low of $27.70 and a 12-month high of $59.39. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.47. The firm had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. General Motors’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.28 EPS. As a group, research analysts predict that General Motors will post 10.35 EPS 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. Investors of record on Friday, December 6th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Friday, December 6th. General Motors’s dividend payout ratio is presently 5.12%.

Wall Street Analyst Weigh In

GM has been the subject of a number of recent research reports. Wedbush increased their price objective on General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Nomura downgraded General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target for the company. in a report on Monday, August 5th. JPMorgan Chase & Co. lifted their price objective on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Nomura Securities upgraded shares of General Motors to a “strong sell” rating in a research report on Monday, August 5th. Finally, Wells Fargo & Company raised their target price on shares of General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $56.92.

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.