General Motors (NYSE:GM) Stake Lowered by MAI Capital Management

MAI Capital Management trimmed its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 12.7% in the third quarter, HoldingsChannel reports. The firm owned 22,501 shares of the auto manufacturer’s stock after selling 3,263 shares during the period. MAI Capital Management’s holdings in General Motors were worth $1,009,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL bought a new stake in shares of General Motors during the 2nd quarter worth about $25,000. Catalyst Capital Advisors LLC acquired a new stake in General Motors in the third quarter worth approximately $27,000. Wellington Shields Capital Management LLC acquired a new position in shares of General Motors during the 2nd quarter valued at $28,000. Fortitude Family Office LLC raised its stake 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 buying an additional 225 shares in the last quarter. Finally, EdgeRock Capital LLC acquired a new stake in shares of General Motors in the second quarter valued at $33,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insider Activity

In other General Motors news, President Mark L. Reuss sold 122,283 shares of General Motors stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total value of $6,745,130.28. Following the transaction, the president now directly owns 126,907 shares of the company’s stock, valued at $7,000,190.12. The trade was a 49.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Craig B. Glidden sold 383,142 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 122,465 shares of the company’s stock, valued at approximately $6,935,192.95. This trade represents a 75.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,034,351 shares of company stock valued at $56,601,268 over the last 90 days. 0.72% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

GM has been the subject of a number of research analyst reports. Nomura downgraded shares of 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. Wolfe Research initiated coverage on General Motors in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Sanford C. Bernstein raised their price objective on General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. boosted their target price on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Nomura Securities upgraded General Motors to a “strong sell” rating in a research report on Monday, August 5th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $56.92.

General Motors Stock Up 1.3 %

General Motors stock opened at $55.60 on Friday. 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 has a 1-year low of $27.83 and a 1-year high of $59.39. The firm’s fifty day simple moving average is $50.50 and its 200-day simple moving average is $47.58. The company has a market capitalization of $61.13 billion, a P/E ratio of 5.93, a P/E/G ratio of 0.42 and a beta of 1.40.

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 for the quarter, beating the consensus estimate of $2.49 by $0.47. The company 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 business’s revenue was up 10.5% compared to the same quarter last year. During the same period last year, the company earned $2.28 earnings per share. Sell-side analysts forecast that General Motors will post 10.35 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be issued 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 0.86%. General Motors’s dividend payout ratio (DPR) is presently 5.12%.

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.