Edgestream Partners L.P. Trims Position in General Motors (NYSE:GM)

Edgestream Partners L.P. decreased its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 63.7% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 42,302 shares of the auto manufacturer’s stock after selling 74,179 shares during the quarter. Edgestream Partners L.P.’s holdings in General Motors were worth $1,897,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. SJS Investment Consulting Inc. grew its holdings in General Motors by 34.5% during the 2nd quarter. SJS Investment Consulting Inc. now owns 792 shares of the auto manufacturer’s stock valued at $37,000 after buying an additional 203 shares in the last quarter. Allworth Financial LP lifted its stake in General Motors by 2.3% in the 3rd quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer’s stock worth $412,000 after purchasing an additional 205 shares in the last quarter. Avestar Capital LLC boosted its holdings in shares of General Motors by 2.3% during the 3rd quarter. Avestar Capital LLC now owns 9,592 shares of the auto manufacturer’s stock valued at $430,000 after purchasing an additional 213 shares during the last quarter. Fortitude Family Office LLC grew its position in shares of General Motors by 56.1% during the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after purchasing an additional 225 shares in the last quarter. Finally, SeaCrest Wealth Management LLC increased its holdings in shares of General Motors by 3.5% in the second quarter. SeaCrest Wealth Management LLC now owns 6,804 shares of the auto manufacturer’s stock worth $316,000 after purchasing an additional 227 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

General Motors Stock Performance

Shares of General Motors stock opened at $53.66 on Wednesday. General Motors has a 52 week low of $32.60 and a 52 week high of $61.24. The company has a market capitalization of $59.00 billion, a PE ratio of 5.72, a price-to-earnings-growth ratio of 0.42 and a beta of 1.42. The stock’s fifty day moving average is $51.81 and its two-hundred day moving average is $48.22. 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 (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping the consensus estimate of $2.49 by $0.47. The company had revenue of $48.76 billion for the quarter, compared to the consensus estimate of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The firm’s revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.28 EPS. As a group, analysts expect that General Motors will post 10.35 earnings per share for the current year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be issued a $0.12 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.89%. General Motors’s payout ratio is 5.12%.

Analyst Upgrades and Downgrades

GM has been the subject of a number of research reports. Wolfe Research initiated coverage on General Motors in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. The Goldman Sachs Group raised their target price on shares of General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. boosted their price target on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. DZ Bank lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price objective for the company. in a research report on Friday, October 11th. Finally, Sanford C. Bernstein boosted their target price on shares of General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a report on Friday, October 25th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, General Motors has a consensus rating of “Hold” and a consensus target price of $56.92.

Insider Buying and Selling

In other news, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the sale, the chief executive officer now owns 694,548 shares in the company, valued at approximately $37,040,244.84. The trade was a 42.19 % decrease in their position. 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 the stock in a transaction that occurred on 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 in the company, valued at approximately $459,787.13. This represents a 52.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,030,475 shares of company stock valued at $56,509,286 over the last quarter. 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.