Cerity Partners LLC Has $19.25 Million Stock Holdings in General Motors (NYSE:GM)

Cerity Partners LLC grew its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 39.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 429,295 shares of the auto manufacturer’s stock after acquiring an additional 121,343 shares during the period. Cerity Partners LLC’s holdings in General Motors were worth $19,250,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in GM. Strategic Investment Solutions Inc. IL acquired a new stake in General Motors during the second quarter worth approximately $25,000. Catalyst Capital Advisors LLC bought a new position in General Motors during the 3rd quarter worth $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 increased its position in General Motors by 56.1% during the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after acquiring an additional 225 shares during the period. Finally, EdgeRock Capital LLC acquired a new stake in General Motors in the 2nd quarter worth about $33,000. 92.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GM has been the subject of several recent research reports. Barclays boosted their price target on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Morgan Stanley cut General Motors from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $47.00 to $42.00 in a research report on Wednesday, September 25th. Sanford C. Bernstein upped their price objective on shares of General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research report on Friday, October 25th. Wolfe Research assumed coverage on shares of General Motors in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Finally, JPMorgan Chase & Co. increased 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. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $56.92.

Insider Activity

In other General Motors news, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at $37,040,244.84. This trade represents a 42.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Craig B. Glidden sold 383,142 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $56.63, for a total value of $21,697,331.46. Following the completion of the sale, the executive vice president now owns 122,465 shares in the company, valued at $6,935,192.95. This represents a 75.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,021,556 shares of company stock worth $55,974,057 over the last 90 days. 0.72% of the stock is currently owned by corporate insiders.

General Motors Trading Up 5.1 %

NYSE GM opened at $58.53 on Monday. The stock has a market capitalization of $64.36 billion, a P/E ratio of 6.24, a P/E/G ratio of 0.42 and a beta of 1.40. General Motors has a one year low of $27.93 and a one year high of $59.39. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. The business has a 50 day simple moving average of $50.74 and a 200 day simple moving average of $47.71.

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 analysts’ consensus estimates of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The business had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. During the same period last year, the company posted $2.28 earnings per share. The business’s quarterly revenue was up 10.5% on a year-over-year basis. Research analysts expect that General Motors will post 10.35 earnings per share for the current year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s payout ratio is currently 5.12%.

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.