General Motors (NYSE:GM) Shares Sold by Stonegate Investment Group LLC

Stonegate Investment Group LLC cut its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 4.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,564 shares of the auto manufacturer’s stock after selling 721 shares during the quarter. Stonegate Investment Group LLC’s holdings in General Motors were worth $698,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL acquired a new position in General Motors in the second quarter valued at approximately $25,000. Wellington Shields Capital Management LLC acquired a new position in shares of General Motors during the 2nd quarter worth approximately $28,000. Fortitude Family Office LLC raised its stake 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 worth $29,000 after buying an additional 225 shares during the period. Montag A & Associates Inc. acquired a new position in shares of General Motors during the 1st quarter worth approximately $30,000. Finally, EdgeRock Capital LLC acquired a new position in shares of General Motors during the 2nd quarter worth approximately $33,000. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Stock Performance

NYSE GM opened at $49.18 on Friday. The stock has a market cap of $56.11 billion, a PE ratio of 6.01, a P/E/G ratio of 0.56 and a beta of 1.42. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. General Motors has a twelve month low of $26.30 and a twelve month high of $50.50. The stock has a fifty day simple moving average of $47.01 and a 200-day simple moving average of $45.92.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.67 by $0.39. The business had revenue of $47.97 billion during the quarter, compared to analysts’ expectations of $45.13 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The company’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.91 EPS. Equities analysts anticipate that General Motors will post 9.95 earnings per share for the current year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, September 6th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date was Friday, September 6th. General Motors’s dividend payout ratio is presently 5.87%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their target price on General Motors from $60.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Wedbush reaffirmed an “outperform” rating and set a $55.00 target price on shares of General Motors in a research note on Wednesday, October 9th. Sanford C. Bernstein downgraded General Motors from an “outperform” rating to a “market perform” rating and set a $53.00 target price for the company. in a research note on Monday, September 23rd. UBS Group upped their target price on General Motors from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, Wolfe Research assumed coverage on General Motors in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $55.35.

Insider Transactions at General Motors

In related news, EVP Rory Harvey sold 12,795 shares of the firm’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 completion of the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at $417,307.26. 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 link. In other news, CFO Paul A. Jacobson bought 25,000 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was bought at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the acquisition, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at $11,551,173.92. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Rory Harvey sold 12,795 shares of the firm’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 transaction, the executive vice president now owns 8,513 shares of the company’s stock, valued at $417,307.26. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

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.