Integrated Wealth Concepts LLC Lowers Position in General Motors (NYSE:GM)

Integrated Wealth Concepts LLC trimmed its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 6.2% during the third quarter, Holdings Channel.com reports. The fund owned 20,320 shares of the auto manufacturer’s stock after selling 1,336 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in General Motors were worth $911,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Caisse DE Depot ET Placement DU Quebec boosted its holdings in General Motors by 972.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer’s stock worth $94,300,000 after purchasing an additional 1,906,964 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of General Motors by 123.1% in the 3rd quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer’s stock worth $144,655,000 after buying an additional 1,779,897 shares during the last quarter. Artemis Investment Management LLP grew its holdings in shares of General Motors by 581.4% in the third quarter. Artemis Investment Management LLP now owns 1,601,856 shares of the auto manufacturer’s stock valued at $71,827,000 after acquiring an additional 1,366,768 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of General Motors by 9.2% during the second quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock valued at $600,291,000 after acquiring an additional 1,091,137 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its holdings in General Motors by 6.1% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer’s stock worth $774,766,000 after acquiring an additional 989,750 shares during the period. Institutional investors own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

GM has been the subject of several research analyst reports. Wolfe Research assumed coverage on General Motors in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Sanford C. Bernstein raised their price objective 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. DZ Bank cut shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price on the stock. in a research note on Friday, October 11th. Mizuho raised their price target on shares of General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Barclays lifted their price target on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $58.26.

General Motors Trading Down 1.3 %

Shares of GM opened at $52.74 on Tuesday. The business’s 50-day moving average price is $52.41 and its 200-day moving average price is $48.47. 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 $32.83 and a twelve month high of $61.24. The stock has a market cap of $57.99 billion, a PE ratio of 5.62, a P/E/G ratio of 0.40 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. The business had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. General Motors’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.28 EPS. On average, equities analysts forecast that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s payout ratio is 5.12%.

Insiders Place Their Bets

In other General Motors news, President Mark L. Reuss sold 122,283 shares of General Motors stock in a transaction dated 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 of the company’s stock, valued at $7,000,190.12. The trade was a 49.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mary T. Barra sold 506,824 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the transaction, the chief executive officer now owns 694,548 shares of the company’s stock, valued at $37,040,244.84. The trade was a 42.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,030,475 shares of company stock worth $56,509,286 in the last ninety days. 0.72% of the stock is currently owned by insiders.

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.