Private Trust Co. NA Trims Stake in General Motors (NYSE:GM)

Private Trust Co. NA decreased its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 3.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,358 shares of the auto manufacturer’s stock after selling 227 shares during the period. Private Trust Co. NA’s holdings in General Motors were worth $285,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. SJS Investment Consulting Inc. lifted its stake in shares of General Motors by 34.5% during the second quarter. SJS Investment Consulting Inc. now owns 792 shares of the auto manufacturer’s stock valued at $37,000 after buying an additional 203 shares during the period. Allworth Financial LP grew its stake in General Motors by 2.3% in the 3rd quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer’s stock worth $412,000 after acquiring an additional 205 shares during the period. Fortitude Family Office LLC raised its holdings in General Motors by 56.1% in the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after acquiring an additional 225 shares during the last quarter. SeaCrest Wealth Management LLC boosted its holdings in shares of General Motors by 3.5% during the second quarter. SeaCrest Wealth Management LLC now owns 6,804 shares of the auto manufacturer’s stock worth $316,000 after purchasing an additional 227 shares during the last quarter. Finally, Institute for Wealth Management LLC. boosted its holdings in shares of General Motors by 0.6% during the second quarter. Institute for Wealth Management LLC. now owns 36,624 shares of the auto manufacturer’s stock worth $1,702,000 after purchasing an additional 230 shares during the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Rory Harvey sold 8,919 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $510,865.13. This represents a 51.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Mary T. Barra sold 506,824 shares of General Motors 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. This trade represents a 42.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,030,475 shares of company stock worth $56,509,286. 0.72% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on GM shares. Barclays increased their target price on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company increased their price objective on shares of General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group boosted their target price on shares of General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Wedbush increased their price target on shares of General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada upped their price objective on General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, General Motors presently has an average rating of “Hold” and a consensus target price of $56.92.

General Motors Price Performance

GM opened at $55.50 on Friday. General Motors has a twelve month low of $28.33 and a twelve month high of $61.24. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24. The firm has a market cap of $61.03 billion, a price-to-earnings ratio of 5.92, a PEG ratio of 0.45 and a beta of 1.40. The company has a fifty day simple moving average of $51.43 and a 200 day simple moving average of $47.99.

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 business 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 earned $2.28 earnings per share. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. Equities research analysts expect that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Friday, December 6th. General Motors’s 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.