Pathstone Holdings LLC Has $8.97 Million Stock Position in General Motors (NYSE:GM)

Pathstone Holdings LLC trimmed its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 4.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 200,070 shares of the auto manufacturer’s stock after selling 9,968 shares during the quarter. Pathstone Holdings LLC’s holdings in General Motors were worth $8,971,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Swedbank AB acquired a new position in shares of General Motors in the 1st quarter valued at $159,750,000. Artemis Investment Management LLP lifted its position in General Motors by 581.4% during the 3rd quarter. Artemis Investment Management LLP now owns 1,601,856 shares of the auto manufacturer’s stock worth $71,827,000 after buying an additional 1,366,768 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of General Motors by 9.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock valued at $600,291,000 after purchasing an additional 1,091,137 shares during the period. Panagora Asset Management Inc. raised its holdings in shares of General Motors by 3,333.1% in the 2nd quarter. Panagora Asset Management Inc. now owns 783,340 shares of the auto manufacturer’s stock valued at $36,394,000 after purchasing an additional 760,523 shares during the period. Finally, Public Employees Retirement Association of Colorado raised its holdings in shares of General Motors by 33.9% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 2,909,540 shares of the auto manufacturer’s stock valued at $135,177,000 after purchasing an additional 736,457 shares during the period. Institutional investors own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on GM shares. Nomura cut shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target on the stock. in a report on Monday, August 5th. Morgan Stanley lowered shares of General Motors from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $47.00 to $42.00 in a research report on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $53.00 target price on shares of General Motors in a research report on Tuesday, September 10th. Nomura Securities upgraded shares of General Motors to a “strong sell” rating in a research report on Monday, August 5th. Finally, Sanford C. Bernstein increased their target price on shares of General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research report on Friday, October 25th. Four analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $56.92.

Insiders Place Their Bets

In other General Motors news, EVP Craig B. Glidden sold 383,142 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were 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 trade represents a 75.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Rory Harvey sold 9,307 shares of General Motors stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total transaction of $502,671.07. Following the transaction, the executive vice president now owns 8,513 shares of the company’s stock, valued at $459,787.13. This represents a 52.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,034,351 shares of company stock worth $56,601,268. 0.72% of the stock is currently owned by company insiders.

General Motors Price Performance

GM stock opened at $55.60 on Friday. The company has a fifty day moving average price of $50.50 and a 200-day moving average price of $47.58. The company has a market capitalization of $61.13 billion, a P/E ratio of 5.93, a PEG ratio of 0.42 and a beta of 1.40. General Motors has a 52-week low of $27.83 and a 52-week high of $59.39. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21.

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 for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The business had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. During the same quarter last year, the firm earned $2.28 earnings per share. General Motors’s quarterly revenue was up 10.5% on a year-over-year basis. As a group, equities analysts expect that General Motors will post 10.35 EPS for the current year.

General Motors Announces Dividend

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 $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s payout ratio is 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.