General Motors (NYSE:GM) Stock Position Trimmed by tru Independence LLC

tru Independence LLC lowered its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 3.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 170,864 shares of the auto manufacturer’s stock after selling 5,585 shares during the period. General Motors comprises 2.2% of tru Independence LLC’s holdings, making the stock its 8th largest position. tru Independence LLC’s holdings in General Motors were worth $7,662,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of GM. SJS Investment Consulting Inc. lifted its position in shares of 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 during the last quarter. Allworth Financial LP lifted its position in shares of General Motors by 2.3% during the 3rd quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer’s stock valued at $412,000 after buying an additional 205 shares during the last quarter. Fortitude Family Office LLC lifted its position in shares of General Motors by 56.1% during the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after buying an additional 225 shares during the last quarter. SeaCrest Wealth Management LLC lifted its position in shares of General Motors by 3.5% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 6,804 shares of the auto manufacturer’s stock valued at $316,000 after buying an additional 227 shares during the last quarter. Finally, Institute for Wealth Management LLC. lifted its position in shares of General Motors by 0.6% during the 2nd quarter. Institute for Wealth Management LLC. now owns 36,624 shares of the auto manufacturer’s stock valued at $1,702,000 after buying an additional 230 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Stock Up 1.0 %

General Motors stock traded up $0.56 during mid-day trading on Monday, hitting $56.14. The company had a trading volume of 499,837 shares, compared to its average volume of 14,901,717. General Motors has a 12 month low of $26.64 and a 12 month high of $56.35. The stock’s 50 day moving average price is $48.81 and its two-hundred day moving average price is $46.89. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $61.73 billion, a PE ratio of 5.93, a price-to-earnings-growth ratio of 0.42 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.47. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The firm had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. During the same quarter in the previous year, the business earned $2.28 earnings per share. The company’s revenue was up 10.5% on a year-over-year basis. As a group, sell-side analysts anticipate that General Motors will post 10.34 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Friday, December 6th. General Motors’s dividend payout ratio is currently 5.12%.

Insider Transactions at General Motors

In related news, President Mark L. Reuss sold 122,283 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the completion of the sale, the president now owns 126,907 shares in the company, valued at approximately $7,000,190.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, President Mark L. Reuss sold 122,283 shares of General Motors stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the transaction, the president now owns 126,907 shares in the company, valued at $7,000,190.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Rory Harvey sold 2,302 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total value of $108,907.62. Following the completion of the transaction, the executive vice president now directly owns 10,356 shares in the company, valued at approximately $489,942.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 653,511 shares of company stock worth $35,012,844 over the last quarter. 0.72% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GM. UBS Group increased their price objective on General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. increased their price objective on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group increased their price objective on General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Sanford C. Bernstein increased their price objective on General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a report on Friday, October 25th. Finally, DZ Bank cut General Motors from a “buy” rating to a “hold” rating and set a $49.00 price objective on the stock. in a report on Friday, October 11th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, General Motors has a consensus rating of “Hold” and a consensus target price of $56.92.

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.