General Motors (NYSE:GM) Holdings Trimmed by Tevis Investment Management

Tevis Investment Management lessened its holdings in General Motors (NYSE:GMFree Report) (TSE:GMM.U) by 3.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,795 shares of the auto manufacturer’s stock after selling 946 shares during the period. Tevis Investment Management’s holdings in General Motors were worth $1,067,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Allspring Global Investments Holdings LLC increased its stake in General Motors by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,536,428 shares of the auto manufacturer’s stock valued at $69,677,000 after buying an additional 129,128 shares during the period. Norden Group LLC acquired a new stake in shares of General Motors during the 1st quarter valued at about $493,000. First Trust Direct Indexing L.P. grew its stake in shares of General Motors by 46.3% in the 1st quarter. First Trust Direct Indexing L.P. now owns 28,753 shares of the auto manufacturer’s stock valued at $1,304,000 after buying an additional 9,099 shares in the last quarter. J.W. Cole Advisors Inc. increased its stake in shares of General Motors by 12.3% during the 1st quarter. J.W. Cole Advisors Inc. now owns 12,948 shares of the auto manufacturer’s stock worth $587,000 after purchasing an additional 1,418 shares during the last quarter. Finally, Mission Wealth Management LP bought a new position in General Motors during the first quarter valued at about $262,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Buying and Selling

In other news, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the sale, the executive vice president now owns 10,356 shares in the company, valued at approximately $489,942.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Rory Harvey sold 2,302 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total value of $108,907.62. Following the transaction, the executive vice president now owns 10,356 shares of the company’s stock, valued at $489,942.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mary T. Barra sold 506,824 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the transaction, the chief executive officer now owns 694,548 shares of the company’s stock, valued at $37,040,244.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 531,228 shares of company stock worth $28,267,714. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Morgan Stanley lowered shares of General Motors from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $47.00 to $42.00 in a research report on Wednesday, September 25th. Nomura Securities raised shares of General Motors to a “strong sell” rating in a report on Monday, August 5th. Royal Bank of Canada increased their target price on General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Wedbush lifted their price target on shares of General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Finally, DZ Bank lowered 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. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, General Motors has a consensus rating of “Hold” and an average price target of $56.92.

Get Our Latest Analysis on GM

General Motors Stock Up 0.8 %

General Motors stock opened at $51.96 on Thursday. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $54.29. The stock has a market cap of $57.14 billion, a PE ratio of 5.54, a price-to-earnings-growth ratio of 0.60 and a beta of 1.42. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.21. The firm’s 50-day simple moving average is $48.17 and its 200 day simple moving average is $46.37.

General Motors (NYSE:GMGet Free Report) (TSE:GMM.U) last released its quarterly earnings data 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. 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 for the quarter, compared to analyst estimates of $44.67 billion. During the same period in the previous year, the company posted $2.28 EPS. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. Research analysts predict that General Motors will post 10.05 EPS 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. Stockholders of record on Friday, December 6th will be given 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 0.92%. General Motors’s dividend payout ratio (DPR) is currently 5.12%.

General Motors Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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