Creative Planning Sells 19,577 Shares of General Motors (NYSE:GM)

Creative Planning lessened its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 10.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 170,670 shares of the auto manufacturer’s stock after selling 19,577 shares during the quarter. Creative Planning’s holdings in General Motors were worth $7,653,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL bought a new position in shares of General Motors during the 2nd quarter worth approximately $25,000. Wellington Shields Capital Management LLC bought a new position in General Motors in the 2nd quarter worth approximately $28,000. Fortitude Family Office LLC lifted its holdings in General Motors by 56.1% during the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after purchasing an additional 225 shares in the last quarter. Montag A & Associates Inc. purchased a new position in General Motors during the first quarter valued at approximately $30,000. Finally, EdgeRock Capital LLC purchased a new stake in shares of General Motors in the second quarter worth $33,000. Institutional investors own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GM. Morgan Stanley lowered shares of General Motors from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $47.00 to $42.00 in a report on Wednesday, September 25th. Royal Bank of Canada increased their target price on shares of General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday. StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. The Goldman Sachs Group upped their price target on General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Finally, Nomura Securities upgraded General Motors to a “strong sell” rating in a research note on Monday, August 5th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $56.97.

General Motors Stock Down 1.5 %

NYSE GM opened at $52.91 on Thursday. General Motors has a 52 week low of $26.30 and a 52 week high of $54.19. The company has a market capitalization of $60.37 billion, a P/E ratio of 6.47, a price-to-earnings-growth ratio of 0.56 and a beta of 1.42. The stock’s 50-day moving average price is $47.52 and its 200-day moving average price is $46.09. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The firm had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. During the same period in the prior year, the company posted $2.28 earnings per share. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, equities research analysts predict that General Motors will post 9.95 earnings per share for the current year.

General Motors Announces Dividend

The business also recently announced 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 0.91%. General Motors’s payout ratio is 5.87%.

Insider Transactions at General Motors

In other General Motors news, EVP Rory Harvey sold 2,302 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the transaction, the executive vice president now owns 10,356 shares in the company, valued at $489,942.36. This trade represents a 0.00 % 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. In other General Motors news, EVP Rory Harvey sold 2,302 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the sale, the executive vice president now directly owns 10,356 shares in the company, valued at $489,942.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Paul A. Jacobson bought 25,000 shares of the stock in a transaction dated Friday, July 26th. The stock was purchased at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the acquisition, the chief financial officer now directly owns 261,872 shares in the company, valued at approximately $11,551,173.92. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.72% of the company’s stock.

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.