General Motors (NYSE:GM) Shares Sold by Stonegate Investment Group LLC

Stonegate Investment Group LLC lowered its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 4.4% during the third quarter, Holdings Channel.com reports. The firm owned 15,564 shares of the auto manufacturer’s stock after selling 721 shares during the quarter. Stonegate Investment Group LLC’s holdings in General Motors were worth $698,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. V Square Quantitative Management LLC raised its position in shares of General Motors by 15.9% during the 3rd quarter. V Square Quantitative Management LLC now owns 42,838 shares of the auto manufacturer’s stock worth $1,921,000 after acquiring an additional 5,885 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of General Motors by 2.2% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 145,059 shares of the auto manufacturer’s stock worth $6,504,000 after acquiring an additional 3,176 shares in the last quarter. Bleakley Financial Group LLC raised its position in shares of General Motors by 2.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 18,026 shares of the auto manufacturer’s stock worth $808,000 after acquiring an additional 449 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of General Motors during the 3rd quarter worth about $381,000. Finally, ZWJ Investment Counsel Inc. raised its position in shares of General Motors by 2.1% during the 3rd quarter. ZWJ Investment Counsel Inc. now owns 388,617 shares of the auto manufacturer’s stock worth $17,426,000 after acquiring an additional 7,980 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on GM shares. Barclays raised their target price on General Motors from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Tuesday. Wells Fargo & Company cut their target price on General Motors from $34.00 to $33.00 and set an “underweight” rating on the stock in a research report on Tuesday, September 10th. The Goldman Sachs Group lifted their price target on General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. StockNews.com lowered General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $54.00 price target on shares of General Motors in a research report on Wednesday, October 9th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $55.35.

Insider Activity at General Motors

In related news, EVP Rory Harvey sold 12,795 shares of General Motors stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $49.02, for a total value of $627,210.90. Following the sale, the executive vice president now directly owns 8,513 shares in the company, valued at $417,307.26. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Paul A. Jacobson acquired 25,000 shares of General Motors 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 completion of the acquisition, the chief financial officer now owns 261,872 shares in the company, valued at $11,551,173.92. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Rory Harvey sold 12,795 shares of General Motors stock in a transaction on Monday, August 26th. The stock was sold at an average price of $49.02, for a total value of $627,210.90. Following the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at approximately $417,307.26. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

General Motors Stock Down 0.4 %

General Motors stock opened at $49.18 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99. General Motors has a 1-year low of $26.30 and a 1-year high of $50.50. The company has a market cap of $56.11 billion, a PE ratio of 6.01, a price-to-earnings-growth ratio of 0.56 and a beta of 1.42. The stock’s 50 day moving average price is $47.01 and its 200 day moving average price is $45.92.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $0.39. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The firm had revenue of $47.97 billion for the quarter, compared to the consensus estimate of $45.13 billion. During the same period in the previous year, the business earned $1.91 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, sell-side analysts predict that General Motors will post 9.95 EPS for the current fiscal year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Friday, September 6th were paid a $0.12 dividend. The ex-dividend date was Friday, September 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.98%. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

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.