Glenmede Trust Co. NA Acquires 30,377 Shares of General Motors (NYSE:GM)

Glenmede Trust Co. NA grew its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 7.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 442,171 shares of the auto manufacturer’s stock after buying an additional 30,377 shares during the period. Glenmede Trust Co. NA’s holdings in General Motors were worth $19,827,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL bought a new stake in shares of General Motors during the 2nd quarter valued at $25,000. Catalyst Capital Advisors LLC bought a new position in General Motors in the 3rd quarter worth about $27,000. Truvestments Capital LLC bought a new position in General Motors in the 3rd quarter worth about $27,000. Wellington Shields Capital Management LLC bought a new position in General Motors in the 2nd quarter worth about $28,000. Finally, Fortitude Family Office LLC boosted its stake in General Motors by 56.1% in the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after purchasing an additional 225 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

General Motors Trading Up 1.3 %

Shares of NYSE:GM opened at $55.50 on Thursday. The stock has a 50 day moving average of $51.29 and a 200 day moving average of $47.94. The company has a market cap of $61.03 billion, a PE ratio of 5.92, a price-to-earnings-growth ratio of 0.45 and a beta of 1.40. 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 12-month low of $28.33 and a 12-month high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last announced 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. The company had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The firm’s revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.28 EPS. As a group, equities research analysts expect that General Motors will post 10.35 EPS for the current year.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors 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 0.86%. General Motors’s dividend payout ratio (DPR) is presently 5.12%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on GM shares. Barclays upped their price target on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada boosted their target price on General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. DZ Bank lowered General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price for the company. in a research report on Friday, October 11th. Morgan Stanley lowered General Motors from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $47.00 to $42.00 in a research report on Wednesday, September 25th. Finally, The Goldman Sachs Group boosted their target price on General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $56.92.

Insider Activity at General Motors

In other General Motors news, CEO Mary T. Barra sold 506,824 shares of the company’s stock in a transaction that occurred on 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 directly owns 694,548 shares in the company, valued at $37,040,244.84. This represents a 42.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Rory Harvey sold 9,307 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $54.01, for a total value of $502,671.07. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,030,475 shares of company stock worth $56,509,286. 0.72% of the stock is owned by company insiders.

General Motors 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.