Peapack Gladstone Financial Corp Has $847,000 Stake in General Motors (NYSE:GM)

Peapack Gladstone Financial Corp lessened its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 13.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 18,885 shares of the auto manufacturer’s stock after selling 3,002 shares during the period. Peapack Gladstone Financial Corp’s holdings in General Motors were worth $847,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Caisse DE Depot ET Placement DU Quebec grew its position in shares of General Motors by 972.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer’s stock worth $94,300,000 after buying an additional 1,906,964 shares during the period. Jennison Associates LLC boosted its stake in General Motors by 123.1% during the third quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer’s stock worth $144,655,000 after acquiring an additional 1,779,897 shares in the last quarter. Artemis Investment Management LLP boosted its stake in General Motors by 581.4% during the third quarter. Artemis Investment Management LLP now owns 1,601,856 shares of the auto manufacturer’s stock worth $71,827,000 after acquiring an additional 1,366,768 shares in the last quarter. National Bank of Canada FI grew its holdings in General Motors by 158.8% in the third quarter. National Bank of Canada FI now owns 2,171,587 shares of the auto manufacturer’s stock worth $97,374,000 after purchasing an additional 1,332,450 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in General Motors by 9.2% in the second quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock valued at $600,291,000 after purchasing an additional 1,091,137 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GM. The Goldman Sachs Group increased their price target on General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Royal Bank of Canada lifted their price target on shares of General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. 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 note on Friday, October 25th. DZ Bank lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price objective on the stock. in a research note on Friday, October 11th. Finally, Barclays boosted their target price 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. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $58.85.

Insider Buying and Selling

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

General Motors Stock Up 0.4 %

GM stock opened at $52.53 on Monday. The company’s 50 day moving average is $53.00 and its 200 day moving average is $48.72. The stock has a market cap of $57.76 billion, a price-to-earnings ratio of 5.60, a price-to-earnings-growth ratio of 0.39 and a beta of 1.42. 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 1-year low of $34.32 and a 1-year high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.47. The firm had revenue of $48.76 billion for 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 business’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the company posted $2.28 EPS. Sell-side analysts predict that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be issued 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 0.91%. General Motors’s dividend payout ratio is 5.12%.

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.