Edgestream Partners L.P. Sells 74,179 Shares of General Motors (NYSE:GM)

Edgestream Partners L.P. lessened its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 63.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,302 shares of the auto manufacturer’s stock after selling 74,179 shares during the quarter. Edgestream Partners L.P.’s holdings in General Motors were worth $1,897,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GM. Strategic Investment Solutions Inc. IL acquired a new stake in General Motors in the second quarter worth about $25,000. Catalyst Capital Advisors LLC purchased a new position in shares of General Motors in the 3rd quarter valued at approximately $27,000. Truvestments Capital LLC acquired a new stake in General Motors in the 3rd quarter worth approximately $27,000. Wellington Shields Capital Management LLC purchased a new stake in General Motors during the 2nd quarter worth approximately $28,000. Finally, Fortitude Family Office LLC increased its stake in General Motors by 56.1% during the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after purchasing an additional 225 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Stock Performance

NYSE GM opened at $53.66 on Wednesday. The stock has a market capitalization of $59.00 billion, a price-to-earnings ratio of 5.72, a PEG ratio of 0.42 and a beta of 1.42. The stock has a 50-day moving average of $51.81 and a 200 day moving average of $48.22. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24. General Motors has a twelve month low of $32.60 and a twelve month high of $61.24.

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, beating analysts’ consensus estimates of $2.49 by $0.47. The firm had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The business’s revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.28 EPS. Sell-side analysts anticipate that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.89%. General Motors’s dividend payout ratio is currently 5.12%.

Insider Buying and Selling

In other news, President Mark L. Reuss sold 122,283 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total value of $6,745,130.28. Following the completion of the sale, the president now directly owns 126,907 shares in the company, valued at $7,000,190.12. This represents a 49.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Rory Harvey sold 8,919 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $60.01, for a total transaction of $535,229.19. Following the transaction, the executive vice president now owns 8,513 shares in the company, valued at $510,865.13. The trade was a 51.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,030,475 shares of company stock worth $56,509,286 in the last 90 days. Insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group lifted their price objective on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Wells Fargo & Company boosted their price target on General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a research note on Wednesday, October 23rd. Barclays raised their price objective on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $53.00 target price on shares of General Motors in a research report on Tuesday, September 10th. Finally, Wolfe Research assumed coverage on shares of General Motors in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, General Motors has an average rating of “Hold” and a consensus target price of $56.92.

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.