General Motors (NYSE:GM) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC lowered its position in General Motors (NYSE:GM) (TSE:GMM.U) by 0.4% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 3,026,440 shares of the auto manufacturer’s stock after selling 11,697 shares during the period. HighTower Advisors LLC owned 0.28% of General Motors worth $135,641,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Chicago Partners Investment Group LLC grew its holdings in General Motors by 15.9% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 11,382 shares of the auto manufacturer’s stock valued at $510,000 after buying an additional 1,559 shares in the last quarter. Donald Smith & CO. Inc. increased its position in General Motors by 12.1% during the third quarter. Donald Smith & CO. Inc. now owns 1,629,573 shares of the auto manufacturer’s stock worth $73,070,000 after purchasing an additional 175,860 shares during the last quarter. Foster & Motley Inc. raised its stake in General Motors by 121.5% during the third quarter. Foster & Motley Inc. now owns 47,169 shares of the auto manufacturer’s stock worth $2,115,000 after purchasing an additional 25,869 shares during the period. Stoneridge Investment Partners LLC boosted its holdings in General Motors by 115.1% in the 3rd quarter. Stoneridge Investment Partners LLC now owns 178,443 shares of the auto manufacturer’s stock valued at $8,001,000 after purchasing an additional 95,484 shares during the last quarter. Finally, Olstein Capital Management L.P. grew its stake in shares of General Motors by 14.9% in the 3rd quarter. Olstein Capital Management L.P. now owns 162,000 shares of the auto manufacturer’s stock valued at $7,264,000 after buying an additional 21,000 shares during the period. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Stock Down 1.0 %

GM opened at $55.04 on Tuesday. General Motors has a one year low of $32.60 and a one year high of $61.24. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. The stock has a market capitalization of $60.52 billion, a P/E ratio of 5.87, a price-to-earnings-growth ratio of 0.42 and a beta of 1.42. The business’s 50-day simple moving average is $51.56 and its 200-day simple moving average is $48.10.

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 (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.47. The firm had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.28 earnings per share. Analysts anticipate that General Motors will post 10.35 EPS for the current year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, December 6th. This represents a $0.48 annualized dividend and a dividend yield of 0.87%. General Motors’s payout ratio is currently 5.12%.

Insider Transactions at General Motors

In related news, EVP Rory Harvey sold 8,919 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $60.01, for a total value of $535,229.19. Following the sale, the executive vice president now owns 8,513 shares in the company, valued at $510,865.13. This represents a 51.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Mary T. Barra sold 506,824 shares of the business’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 sale, the chief executive officer now owns 694,548 shares in the company, valued at approximately $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 a total of 1,030,475 shares of company stock valued at $56,509,286 in the last ninety days. 0.72% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

GM has been the topic of a number of recent analyst reports. Nomura Securities upgraded General Motors to a “strong sell” rating in a report on Monday, August 5th. Nomura downgraded General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective for the company. in a research report on Monday, August 5th. The Goldman Sachs Group upped their target price on shares of General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Wedbush lifted their price target on shares of General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Morgan Stanley cut shares of General Motors from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $47.00 to $42.00 in a research report on Wednesday, September 25th. Four equities 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 issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $56.92.

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.