General Motors (NYSE:GM) Shares Sold by Summit Trail Advisors LLC

Summit Trail Advisors LLC reduced its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 15.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 27,283 shares of the auto manufacturer’s stock after selling 4,947 shares during the period. Summit Trail Advisors LLC’s holdings in General Motors were worth $1,223,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Chicago Partners Investment Group LLC boosted its stake in General Motors by 15.9% in the third quarter. Chicago Partners Investment Group LLC now owns 11,382 shares of the auto manufacturer’s stock valued at $510,000 after acquiring an additional 1,559 shares during the period. Donald Smith & CO. Inc. boosted its position in General Motors by 12.1% during the 3rd quarter. Donald Smith & CO. Inc. now owns 1,629,573 shares of the auto manufacturer’s stock valued at $73,070,000 after purchasing an additional 175,860 shares during the period. Foster & Motley Inc. grew its stake in General Motors by 121.5% during the 3rd quarter. Foster & Motley Inc. now owns 47,169 shares of the auto manufacturer’s stock worth $2,115,000 after buying an additional 25,869 shares during the last quarter. Stoneridge Investment Partners LLC increased its position in General Motors by 115.1% in the third quarter. Stoneridge Investment Partners LLC now owns 178,443 shares of the auto manufacturer’s stock worth $8,001,000 after buying an additional 95,484 shares during the period. Finally, Olstein Capital Management L.P. lifted its stake in General Motors by 14.9% in the third quarter. Olstein Capital Management L.P. now owns 162,000 shares of the auto manufacturer’s stock valued at $7,264,000 after buying an additional 21,000 shares during the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GM. UBS Group upped their price target on shares of General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Nomura Securities upgraded shares of General Motors to a “strong sell” rating in a research report on Monday, August 5th. DZ Bank downgraded General Motors from a “buy” rating to a “hold” rating and set a $49.00 price objective for the company. in a research report on Friday, October 11th. Sanford C. Bernstein raised their target price on General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research report on Friday, October 25th. Finally, Nomura lowered General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target for the company. in a research report on Monday, August 5th. Four analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $56.92.

General Motors Price Performance

NYSE GM opened at $58.53 on Monday. General Motors has a 1 year low of $27.93 and a 1 year high of $59.39. The business’s fifty day moving average is $50.74 and its two-hundred day moving average is $47.71. The stock has a market capitalization of $64.36 billion, a P/E ratio of 6.24, a P/E/G ratio of 0.44 and a beta of 1.40. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21.

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 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 firm earned $2.28 earnings per share. General Motors’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, research analysts forecast that General Motors will post 10.35 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Friday, December 6th. General Motors’s payout ratio is 5.12%.

Insiders Place Their Bets

In other General Motors news, EVP Rory Harvey sold 9,307 shares of General Motors stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $54.01, for a total transaction of $502,671.07. Following the transaction, the executive vice president now owns 8,513 shares of the company’s stock, valued at $459,787.13. The trade was a 52.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Mary T. Barra sold 506,824 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at $37,040,244.84. This trade represents a 42.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,021,556 shares of company stock worth $55,974,057 over the last ninety days. 0.72% of the stock is currently owned by company insiders.

About General Motors

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.