Coastline Trust Co Decreases Stock Position in General Motors (NYSE:GM)

Coastline Trust Co decreased its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 33.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 7,300 shares of the auto manufacturer’s stock after selling 3,750 shares during the quarter. Coastline Trust Co’s holdings in General Motors were worth $327,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL purchased a new stake in shares of General Motors in the second quarter worth about $25,000. Catalyst Capital Advisors LLC purchased a new position in shares of General Motors during the 3rd quarter valued at $27,000. Wellington Shields Capital Management LLC purchased a new position in shares of General Motors during the 2nd quarter valued at $28,000. Fortitude Family Office LLC raised 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 in the last quarter. Finally, EdgeRock Capital LLC purchased a new position in General Motors during the second quarter worth about $33,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Barclays lifted their price target on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada increased their price target on shares of General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. DZ Bank downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price objective for the company. in a report on Friday, October 11th. Wolfe Research initiated coverage on General Motors in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, JPMorgan Chase & Co. lifted their price target on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $56.92.

Insider Activity at General Motors

In other news, President Mark L. Reuss sold 122,283 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total value of $6,745,130.28. Following the transaction, the president now owns 126,907 shares in the company, valued at approximately $7,000,190.12. This represents a 49.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Rory Harvey sold 2,302 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 10,356 shares of the company’s stock, valued at $489,942.36. This trade represents a 18.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 653,511 shares of company stock valued at $35,012,844 in the last three months. Company insiders own 0.72% of the company’s stock.

General Motors Stock Performance

NYSE:GM opened at $57.04 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. General Motors has a twelve month low of $27.42 and a twelve month high of $59.39. The stock has a market cap of $62.72 billion, a P/E ratio of 6.08, a price-to-earnings-growth ratio of 0.44 and a beta of 1.40. The firm’s fifty day simple moving average is $49.72 and its 200 day simple moving average is $47.30.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $44.67 billion. During the same period last year, the business posted $2.28 earnings per share. General Motors’s quarterly revenue was up 10.5% compared to the same quarter last year. As a group, research analysts predict that General Motors will post 10.35 EPS for the current year.

General Motors Announces Dividend

The firm 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 $0.12 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.48 annualized dividend and a dividend yield of 0.84%. 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.