Chevy Chase Trust Holdings LLC Decreases Stake in General Motors (NYSE:GM)

Chevy Chase Trust Holdings LLC reduced its position in General Motors (NYSE:GM) (TSE:GMM.U) by 4.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 578,492 shares of the auto manufacturer’s stock after selling 25,628 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in General Motors were worth $30,816,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in GM. Cornerstone Wealth Management LLC lifted its position in shares of General Motors by 13.8% in the third quarter. Cornerstone Wealth Management LLC now owns 8,001 shares of the auto manufacturer’s stock worth $359,000 after buying an additional 971 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of General Motors in the third quarter worth about $381,000. Bleakley Financial Group LLC lifted its position in shares of General Motors by 2.6% in the third quarter. Bleakley Financial Group LLC now owns 18,026 shares of the auto manufacturer’s stock worth $808,000 after buying an additional 449 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of General Motors by 2.2% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 145,059 shares of the auto manufacturer’s stock worth $6,504,000 after buying an additional 3,176 shares in the last quarter. Finally, V Square Quantitative Management LLC lifted its position in shares of General Motors by 15.9% in the third quarter. V Square Quantitative Management LLC now owns 42,838 shares of the auto manufacturer’s stock worth $1,921,000 after buying an additional 5,885 shares in the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other General Motors news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was purchased at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the acquisition, the director now owns 13,714 shares in the company, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Rory Harvey sold 8,919 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $60.01, for a total value of $535,229.19. Following the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $510,865.13. This represents a 51.16 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

General Motors Stock Up 0.9 %

Shares of NYSE:GM opened at $48.33 on Friday. The business’s 50 day moving average is $51.26 and its 200 day moving average is $49.95. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. The stock has a market cap of $48.09 billion, a P/E ratio of 7.86, a price-to-earnings-growth ratio of 0.68 and a beta of 1.40. General Motors has a 52-week low of $38.13 and a 52-week high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. Sell-side analysts predict that General Motors will post 11.28 EPS for the current year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 0.99%. General Motors’s dividend payout ratio is currently 7.80%.

Analyst Ratings Changes

GM has been the topic of a number of recent research reports. StockNews.com downgraded General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. UBS Group upped their price objective on General Motors from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Wells Fargo & Company upped their price objective on General Motors from $35.00 to $37.00 and gave the company an “underweight” rating in a research report on Wednesday, January 29th. Sanford C. Bernstein upped their price objective 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, Royal Bank of Canada upped their price objective on General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, General Motors currently has an average rating of “Hold” and a consensus target price of $61.28.

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.