Pathstone Holdings LLC Decreases Position in General Motors (NYSE:GM)

Pathstone Holdings LLC cut its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 4.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 200,070 shares of the auto manufacturer’s stock after selling 9,968 shares during the quarter. Pathstone Holdings LLC’s holdings in General Motors were worth $8,971,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

GM has been the topic of a number of recent research reports. Royal Bank of Canada lifted their price objective on shares of General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Morgan Stanley lowered shares of General Motors from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $47.00 to $42.00 in a research note on Wednesday, September 25th. Barclays boosted 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. UBS Group boosted their price target on shares of General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Wedbush boosted 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. Four equities research analysts have rated the stock with a sell rating, seven have given 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.com, General Motors presently has an average rating of “Hold” and a consensus price target of $56.92.

General Motors Stock Performance

NYSE:GM opened at $55.60 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. The company has a market cap of $61.13 billion, a P/E ratio of 5.93, a P/E/G ratio of 0.42 and a beta of 1.40. General Motors has a fifty-two week low of $27.83 and a fifty-two week high of $59.39. The firm’s 50 day moving average is $50.50 and its two-hundred day moving average is $47.58.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The company had revenue of $48.76 billion during the quarter, compared to analyst estimates of $44.67 billion. During the same quarter in the prior year, the business earned $2.28 earnings per share. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. Analysts expect that General Motors will post 10.35 EPS for the current year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Friday, December 6th. General Motors’s payout ratio is 5.12%.

Insider Buying and Selling at General Motors

In other General Motors news, EVP Craig B. Glidden sold 383,142 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the sale, the executive vice president now directly owns 122,465 shares in the company, valued at approximately $6,935,192.95. The trade was a 75.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Mark L. Reuss sold 122,283 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total value of $6,745,130.28. Following the transaction, the president now directly owns 126,907 shares of the company’s stock, valued at approximately $7,000,190.12. The trade was a 49.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,034,351 shares of company stock worth $56,601,268 in the last ninety days. 0.72% of the stock is owned by insiders.

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.