140 Summer Partners LP Sells 417,500 Shares of General Motors (NYSE:GM)

140 Summer Partners LP lowered its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 51.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 398,800 shares of the auto manufacturer’s stock after selling 417,500 shares during the quarter. General Motors makes up approximately 1.9% of 140 Summer Partners LP’s portfolio, making the stock its 16th largest holding. 140 Summer Partners LP’s holdings in General Motors were worth $17,882,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Silvercrest Asset Management Group LLC lifted its holdings in General Motors by 7.1% in the first quarter. Silvercrest Asset Management Group LLC now owns 7,094 shares of the auto manufacturer’s stock valued at $322,000 after acquiring an additional 473 shares during the period. B. Riley Wealth Advisors Inc. lifted its stake in shares of General Motors by 35.0% in 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 period. LRI Investments LLC bought a new position in shares of General Motors in the 1st quarter worth approximately $34,000. Atria Investments Inc boosted its holdings in shares of General Motors by 0.7% in the first quarter. Atria Investments Inc now owns 252,561 shares of the auto manufacturer’s stock worth $11,454,000 after buying an additional 1,673 shares during the last quarter. Finally, Invst LLC bought a new stake in General Motors during the first quarter valued at approximately $910,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Activity at General Motors

In other news, EVP Craig B. Glidden sold 383,142 shares of General Motors stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 122,465 shares in the company, valued at approximately $6,935,192.95. The trade was a 75.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Rory Harvey sold 9,307 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total value of $502,671.07. Following the sale, the executive vice president now owns 8,513 shares in the company, valued at $459,787.13. The trade was a 52.23 % decrease in their position. 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 over the last 90 days. 0.72% of the stock is owned by corporate insiders.

General Motors Stock Up 1.3 %

GM opened at $55.50 on Thursday. The company has a market capitalization of $61.03 billion, a PE ratio of 5.92, a price-to-earnings-growth ratio of 0.45 and a beta of 1.40. The firm has a 50-day simple moving average of $51.29 and a two-hundred day simple moving average of $47.94. 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 52 week low of $28.33 and a 52 week high of $61.24.

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

General Motors Announces Dividend

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 0.86%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio is presently 5.12%.

Wall Street Analysts Forecast Growth

GM has been the topic of several recent research reports. Barclays 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. DZ Bank downgraded General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price on the stock. in a research report on Friday, October 11th. Wells Fargo & Company upped their price target on General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 23rd. Wedbush lifted their price objective on General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $53.00 price objective on shares of General Motors in a research note on Tuesday, September 10th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $56.92.

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.