Raymond James & Associates Cuts Stock Holdings in General Motors (NYSE:GM)

Raymond James & Associates trimmed its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 0.2% during the 3rd quarter, Holdings Channel reports. The firm owned 1,368,362 shares of the auto manufacturer’s stock after selling 2,816 shares during the quarter. Raymond James & Associates’ holdings in General Motors were worth $61,357,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GM. Capital World Investors increased its holdings in shares of General Motors by 14.6% in the 1st quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock worth $2,211,609,000 after buying an additional 6,201,777 shares during the last quarter. Bank of New York Mellon Corp increased its stake in General Motors by 1.1% in the second quarter. Bank of New York Mellon Corp now owns 12,951,561 shares of the auto manufacturer’s stock valued at $601,730,000 after acquiring an additional 135,717 shares during the last quarter. Dimensional Fund Advisors LP raised its position in General Motors by 9.2% during the second quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock valued at $600,291,000 after purchasing an additional 1,091,137 shares in the last quarter. LSV Asset Management lifted its stake in General Motors by 2.6% during the second quarter. LSV Asset Management now owns 8,847,440 shares of the auto manufacturer’s stock worth $411,052,000 after purchasing an additional 223,260 shares during the last quarter. Finally, ACR Alpine Capital Research LLC boosted its holdings in shares of General Motors by 8.4% in the 1st quarter. ACR Alpine Capital Research LLC now owns 6,337,547 shares of the auto manufacturer’s stock worth $287,408,000 after purchasing an additional 492,693 shares in the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total value of $108,907.62. Following the completion of the transaction, the executive vice president now owns 10,356 shares of the company’s stock, valued at $489,942.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Rory Harvey sold 2,302 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total transaction of $108,907.62. Following the sale, the executive vice president now owns 10,356 shares in the company, valued at $489,942.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Paul A. Jacobson acquired 25,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the acquisition, the chief financial officer now owns 261,872 shares in the company, valued at $11,551,173.92. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Nomura cut General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective on the stock. in a report on Monday, August 5th. The Goldman Sachs Group lifted their price target on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. upped their price objective on shares of General Motors from $60.00 to $61.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Morgan Stanley cut shares of 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, DZ Bank lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target for the company. in a research report on Friday, October 11th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $55.35.

General Motors Stock Down 0.5 %

NYSE:GM opened at $48.92 on Tuesday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99. The firm’s 50-day moving average price is $47.13 and its 200-day moving average price is $45.97. The company has a market capitalization of $55.81 billion, a PE ratio of 5.98, a P/E/G ratio of 0.56 and a beta of 1.42. General Motors has a 1-year low of $26.30 and a 1-year high of $50.50.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.67 by $0.39. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The business had revenue of $47.97 billion for the quarter, compared to analysts’ expectations of $45.13 billion. During the same quarter in the prior year, the company earned $1.91 earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year. On average, equities analysts predict that General Motors will post 9.95 EPS for the current fiscal year.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.98%. General Motors’s payout ratio is 5.87%.

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.