BNP PARIBAS ASSET MANAGEMENT Holding S.A. Trims Holdings in General Motors (NYSE:GM)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. decreased its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 6.4% during the third quarter, HoldingsChannel.com reports. The firm owned 813,223 shares of the auto manufacturer’s stock after selling 55,810 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in General Motors were worth $36,465,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in GM. Strategic Investment Solutions Inc. IL bought a new position in shares of General Motors in the second quarter worth $25,000. Catalyst Capital Advisors LLC purchased a new position in General Motors during the third quarter worth about $27,000. Wellington Shields Capital Management LLC bought a new position in General Motors in the 2nd quarter worth about $28,000. Fortitude Family Office LLC raised its holdings in shares of General Motors by 56.1% in the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after acquiring an additional 225 shares in the last quarter. Finally, EdgeRock Capital LLC bought a new stake in shares of General Motors during the 2nd quarter valued at about $33,000. Institutional investors own 92.67% of the company’s stock.

General Motors Stock Performance

NYSE:GM opened at $58.52 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. The firm’s fifty day simple moving average is $50.74 and its 200 day simple moving average is $47.68. The stock has a market cap of $64.35 billion, a P/E ratio of 6.24, a price-to-earnings-growth ratio of 0.42 and a beta of 1.40. General Motors has a twelve month low of $27.93 and a twelve month high of $59.39.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.47. The business had revenue of $48.76 billion for the quarter, compared to analysts’ expectations of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The business’s revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.28 EPS. As a group, research analysts predict that General Motors will post 10.35 EPS for the current year.

General Motors Dividend Announcement

The company 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 dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.82%. The ex-dividend date is Friday, December 6th. General Motors’s dividend payout ratio is currently 5.12%.

Analyst Ratings Changes

A number of brokerages recently weighed in on GM. The Goldman Sachs Group raised their target price on shares of General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. lifted their price target on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Nomura Securities raised shares of General Motors to a “strong sell” rating in a research note on Monday, August 5th. UBS Group lifted their target price on shares of General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada upped their price target on shares of General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, General Motors has an average rating of “Hold” and a consensus target price of $56.92.

Insider Activity

In other General Motors news, EVP Rory Harvey sold 12,795 shares of General Motors stock in a transaction on Monday, August 26th. The stock was sold at an average price of $49.02, for a total transaction of $627,210.90. Following the completion of the transaction, the executive vice president now owns 8,513 shares in the company, valued at approximately $417,307.26. The trade was a 60.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Craig B. Glidden sold 383,142 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $56.63, for a total value of $21,697,331.46. Following the completion of the sale, the executive vice president now directly owns 122,465 shares in the company, valued at approximately $6,935,192.95. This represents a 75.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,034,351 shares of company stock worth $56,601,268. Corporate insiders own 0.72% of the company’s stock.

General Motors 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.