General Motors (NYSE:GM) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC trimmed its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 27.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 50,134 shares of the auto manufacturer’s stock after selling 19,380 shares during the quarter. Private Advisor Group LLC’s holdings in General Motors were worth $2,248,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Strategic Investment Solutions Inc. IL acquired a new stake in shares of General Motors in the second quarter worth $25,000. Wellington Shields Capital Management LLC acquired a new stake in shares of General Motors in the second quarter worth $28,000. Fortitude Family Office LLC boosted 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 worth $29,000 after buying an additional 225 shares during the period. Montag A & Associates Inc. acquired a new stake in shares of General Motors in the first quarter worth $30,000. Finally, EdgeRock Capital LLC acquired a new stake in shares of General Motors in the second quarter worth $33,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at General Motors

In related news, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the transaction, the executive vice president now directly owns 10,356 shares in the company, valued at $489,942.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the transaction, the executive vice president now directly owns 10,356 shares in the company, valued at $489,942.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total value of $27,028,923.92. Following the transaction, the chief executive officer now owns 694,548 shares in the company, valued at $37,040,244.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 531,228 shares of company stock worth $28,267,714 over the last three months. Company insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GM. Nomura Securities raised General Motors to a “strong sell” rating in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $53.00 price objective on shares of General Motors in a research report on Tuesday, September 10th. Morgan Stanley cut General Motors from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $47.00 to $42.00 in a research report on Wednesday, September 25th. Wells Fargo & Company lifted their price objective on General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada lifted their price objective on General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $56.92.

General Motors Trading Down 2.2 %

General Motors stock opened at $51.55 on Wednesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.21. The business’s 50-day simple moving average is $48.06 and its 200-day simple moving average is $46.33. The firm has a market capitalization of $56.68 billion, a PE ratio of 5.50, a PEG ratio of 0.60 and a beta of 1.42. General Motors has a 52 week low of $26.30 and a 52 week high of $54.29.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. The business 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%. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.28 earnings per share. Equities research analysts forecast that General Motors will post 10.05 earnings per share for the current year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, December 6th. This represents a $0.48 annualized dividend and a yield of 0.93%. General Motors’s dividend payout ratio is 5.12%.

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.