Heritage Investors Management Corp Sells 4,181 Shares of General Motors (NYSE:GM)

Heritage Investors Management Corp cut its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 9.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 40,932 shares of the auto manufacturer’s stock after selling 4,181 shares during the period. Heritage Investors Management Corp’s holdings in General Motors were worth $1,835,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL bought a new position in General Motors during the second quarter worth about $25,000. Catalyst Capital Advisors LLC bought a new stake in shares of General Motors in the third quarter valued at about $27,000. Wellington Shields Capital Management LLC bought a new stake in shares of General Motors in the second quarter valued at about $28,000. Fortitude Family Office LLC lifted its holdings 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 valued at $29,000 after purchasing an additional 225 shares in the last quarter. Finally, Montag A & Associates Inc. bought a new stake in shares of General Motors in the first quarter valued at about $30,000. 92.67% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Rory Harvey sold 12,795 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $49.02, for a total value of $627,210.90. Following the completion of the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $417,307.26. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Mary T. Barra sold 506,824 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the sale, the chief executive officer now owns 694,548 shares of the company’s stock, valued at $37,040,244.84. This represents a 0.00 % decrease in their ownership of the stock. 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 the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $49.02, for a total transaction of $627,210.90. Following the sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $417,307.26. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 531,228 shares of company stock valued at $28,267,714. 0.72% of the stock is owned by company insiders.

General Motors Price Performance

NYSE:GM opened at $53.71 on Wednesday. General Motors has a one year low of $26.30 and a one year high of $54.29. The company has a market cap of $59.06 billion, a P/E ratio of 5.73, a P/E/G ratio of 0.39 and a beta of 1.40. The firm’s fifty day moving average price is $48.46 and its two-hundred day moving average price is $46.66. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, beating 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 firm had revenue of $48.76 billion for the quarter, compared to the consensus estimate of $44.67 billion. During the same period in the previous year, the company earned $2.28 earnings per share. The company’s quarterly revenue was up 10.5% on a year-over-year basis. Equities analysts expect that General Motors will post 10.34 earnings per share for the current year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be given a $0.12 dividend. The ex-dividend date of this dividend 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 presently 5.12%.

Analyst Upgrades and Downgrades

GM has been the topic of a number of research reports. Wedbush boosted their price target on General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Wells Fargo & Company boosted their price target on General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a report on Wednesday, October 23rd. Morgan Stanley lowered General Motors from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $47.00 to $42.00 in a report on Wednesday, September 25th. The Goldman Sachs Group upped their target price on General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Finally, Wolfe Research started coverage on General Motors in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $56.92.

General Motors Company 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.