General Motors (NYSE:GM) Position Trimmed by Waldron Private Wealth LLC

Waldron Private Wealth LLC reduced its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 5.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 6,837 shares of the auto manufacturer’s stock after selling 407 shares during the period. Waldron Private Wealth LLC’s holdings in General Motors were worth $307,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Strategic Investment Solutions Inc. IL bought a new position in General Motors during the 2nd quarter worth $25,000. Wellington Shields Capital Management LLC bought a new position in shares of General Motors during the second quarter worth about $28,000. Fortitude Family Office LLC increased 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 worth $29,000 after acquiring an additional 225 shares during the period. Montag A & Associates Inc. bought a new stake in General Motors in the 1st quarter valued at about $30,000. Finally, EdgeRock Capital LLC acquired a new position in General Motors during the 2nd quarter valued at about $33,000. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Price Performance

NYSE GM opened at $52.91 on Thursday. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. The company has a market cap of $60.37 billion, a PE ratio of 6.47, a PEG ratio of 0.56 and a beta of 1.42. General Motors has a 1 year low of $26.30 and a 1 year high of $54.19. The stock’s 50-day moving average price is $47.52 and its two-hundred day moving average price is $46.09.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.47. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The company had revenue of $48.76 billion for the quarter, compared to the consensus estimate of $44.67 billion. During the same period in the previous year, the business earned $2.28 EPS. The company’s revenue was up 10.5% on a year-over-year basis. On average, analysts predict that General Motors will post 9.95 EPS for the current year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 annualized dividend and a yield of 0.91%. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada lifted their price target on General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday. UBS Group boosted their price target on General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $53.00 price target on shares of General Motors in a research note on Tuesday, September 10th. 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 note on Wednesday. Finally, Wedbush increased their target price on shares of General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, General Motors has an average rating of “Hold” and an average target price of $56.97.

Insider Activity

In related news, CFO Paul A. Jacobson acquired 25,000 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were purchased at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the transaction, the chief financial officer now owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Rory Harvey sold 12,795 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $417,307.26. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Paul A. Jacobson purchased 25,000 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the purchase, the chief financial officer now owns 261,872 shares in the company, valued at $11,551,173.92. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.72% of the stock is owned by corporate insiders.

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.