Piedmont Investment Advisors LLC trimmed its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 2.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 285,516 shares of the auto manufacturer’s stock after selling 7,489 shares during the period. Piedmont Investment Advisors LLC’s holdings in General Motors were worth $11,529,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in GM. Intrust Bank NA lifted its holdings in General Motors by 0.3% in the second quarter. Intrust Bank NA now owns 7,174 shares of the auto manufacturer’s stock valued at $250,000 after buying an additional 25 shares during the period. Peapack Gladstone Financial Corp lifted its holdings in General Motors by 2.7% in the second quarter. Peapack Gladstone Financial Corp now owns 6,428 shares of the auto manufacturer’s stock valued at $225,000 after buying an additional 166 shares during the period. Regal Investment Advisors LLC lifted its holdings in General Motors by 6.9% in the second quarter. Regal Investment Advisors LLC now owns 6,187 shares of the auto manufacturer’s stock valued at $216,000 after buying an additional 397 shares during the period. Convergence Investment Partners LLC lifted its holdings in General Motors by 6.0% in the second quarter. Convergence Investment Partners LLC now owns 7,339 shares of the auto manufacturer’s stock valued at $256,000 after buying an additional 417 shares during the period. Finally, Obermeyer Wood Investment Counsel Lllp lifted its holdings in General Motors by 6.6% in the second quarter. Obermeyer Wood Investment Counsel Lllp now owns 7,803 shares of the auto manufacturer’s stock valued at $273,000 after buying an additional 483 shares during the period. Institutional investors own 73.06% of the company’s stock.
In related news, insider Alan S. Batey sold 234,274 shares of the stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $38.04, for a total transaction of $8,911,782.96. Following the completion of the transaction, the insider now owns 67,548 shares in the company, valued at $2,569,525.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alicia S. Boler-Davis sold 10,000 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $40.90, for a total transaction of $409,000.00. The disclosure for this sale can be found here. Insiders have sold 1,059,526 shares of company stock valued at $44,428,425 in the last three months. 0.04% of the stock is owned by insiders.
GM has been the topic of several analyst reports. Piper Jaffray Companies restated a “buy” rating and issued a $44.00 price objective on shares of General Motors in a report on Tuesday, September 12th. Vetr lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $43.99 price objective on the stock. in a report on Monday, November 13th. Citigroup restated a “buy” rating and issued a $53.00 price objective on shares of General Motors in a report on Monday, October 2nd. Berenberg Bank set a $31.00 price objective on shares of General Motors and gave the company a “sell” rating in a report on Monday, August 14th. Finally, Cascend Securities lowered shares of General Motors to a “buy” rating in a report on Tuesday, December 5th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $43.70.
Shares of General Motors (NYSE GM) traded down $0.35 during trading hours on Tuesday, reaching $41.67. 14,112,400 shares of the company’s stock traded hands, compared to its average volume of 13,488,139. General Motors has a 1 year low of $31.92 and a 1 year high of $46.76. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.94 and a quick ratio of 0.79. The company has a market capitalization of $59,685.55, a P/E ratio of 6.79, a PEG ratio of 0.73 and a beta of 1.54.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, October 24th. The auto manufacturer reported $1.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.25. General Motors had a net margin of 2.00% and a return on equity of 20.95%. The company had revenue of $30.48 billion during the quarter, compared to the consensus estimate of $29.93 billion. During the same quarter in the prior year, the firm earned $1.72 earnings per share. The firm’s revenue was down 16.6% compared to the same quarter last year. equities analysts forecast that General Motors will post 6.24 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Friday, December 8th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.65%. The ex-dividend date is Thursday, December 7th. General Motors’s dividend payout ratio is 77.95%.
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General Motors Profile
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
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