Cerity Partners LLC Increases Holdings in General Motors (NYSE:GM)

Cerity Partners LLC grew its position in General Motors (NYSE:GM) (TSE:GMM.U) by 39.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 429,295 shares of the auto manufacturer’s stock after buying an additional 121,343 shares during the quarter. Cerity Partners LLC’s holdings in General Motors were worth $19,250,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GM. Silvercrest Asset Management Group LLC raised its stake in General Motors by 7.1% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 7,094 shares of the auto manufacturer’s stock worth $322,000 after acquiring an additional 473 shares during the last quarter. Virtus Investment Advisers Inc. acquired a new stake in General Motors in the 1st quarter worth about $249,000. B. Riley Wealth Advisors Inc. boosted its stake in General Motors by 35.0% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 36,493 shares of the auto manufacturer’s stock worth $1,655,000 after purchasing an additional 9,460 shares during the last quarter. KLCM Advisors Inc. lifted its stake in shares of General Motors by 2.1% in the first quarter. KLCM Advisors Inc. now owns 217,519 shares of the auto manufacturer’s stock worth $9,864,000 after buying an additional 4,387 shares in the last quarter. Finally, iA Global Asset Management Inc. grew its stake in General Motors by 668.2% during the 1st quarter. iA Global Asset Management Inc. now owns 84,407 shares of the auto manufacturer’s stock valued at $3,828,000 after acquiring an additional 73,419 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors.

Insider Transactions at General Motors

In other news, CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the sale, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. The trade was a 42.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Craig B. Glidden sold 383,142 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $56.63, for a total value of $21,697,331.46. Following the transaction, the executive vice president now owns 122,465 shares in the company, valued at $6,935,192.95. This trade represents a 75.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,021,556 shares of company stock valued at $55,974,057 over the last 90 days. Corporate insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on GM shares. Sanford C. Bernstein boosted their price target on shares of General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research report on Friday, October 25th. Barclays increased their price objective on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada lifted their price target on General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their price target on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Nomura cut General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price for the company. in a research report on Monday, August 5th. Four 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’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $56.92.

General Motors Trading Up 5.1 %

NYSE:GM opened at $58.53 on Monday. The stock has a fifty day simple moving average of $50.74 and a 200-day simple moving average of $47.71. The company has a market capitalization of $64.36 billion, a PE ratio of 6.24, a price-to-earnings-growth ratio of 0.42 and a beta of 1.40. General Motors has a 52-week low of $27.93 and a 52-week high of $59.39. 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 (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (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 firm had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. During the same quarter last year, the business earned $2.28 earnings per share. General Motors’s revenue was up 10.5% compared to the same quarter last year. On average, equities research analysts expect that General Motors will post 10.35 earnings per share for the current fiscal year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, December 6th. This represents a $0.48 annualized dividend and a yield of 0.82%. General Motors’s dividend payout ratio is presently 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.