Moors & Cabot Inc. Trims Stake in General Motors (NYSE:GM)

Moors & Cabot Inc. lowered its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 41.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,393 shares of the auto manufacturer’s stock after selling 3,766 shares during the period. Moors & Cabot Inc.’s holdings in General Motors were worth $242,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of GM. Strategic Investment Solutions Inc. IL bought a new position in General Motors in the second quarter valued at $25,000. Catalyst Capital Advisors LLC purchased a new position in shares of General Motors in the 3rd quarter worth about $27,000. Wellington Shields Capital Management LLC bought a new position in shares of General Motors during the 2nd quarter valued at about $28,000. Fortitude Family Office LLC raised its holdings in shares of General Motors by 56.1% during the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after buying an additional 225 shares in the last quarter. Finally, EdgeRock Capital LLC bought a new stake in General Motors in the 2nd quarter worth approximately $33,000. Institutional investors own 92.67% of the company’s stock.

Insider Activity

In other news, EVP Craig B. Glidden sold 383,142 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the completion of the transaction, the executive vice president now directly owns 122,465 shares in the company, valued at $6,935,192.95. This trade represents a 75.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Mark L. Reuss sold 122,283 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the completion of the transaction, the president now owns 126,907 shares in the company, valued at approximately $7,000,190.12. The trade was a 49.07 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,021,556 shares of company stock worth $55,974,057. Insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on GM shares. Nomura downgraded shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target on the stock. in a research note on Monday, August 5th. The Goldman Sachs Group upped their price target on shares of General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Wedbush lifted their price objective on General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Nomura Securities upgraded General Motors to a “strong sell” rating in a report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $53.00 price target on shares of General Motors in a research note on Tuesday, September 10th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has assigned 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 $56.92.

General Motors Stock Up 5.1 %

Shares of NYSE:GM opened at $58.53 on Monday. The firm has a market capitalization of $64.36 billion, a P/E ratio of 6.24, a P/E/G ratio of 0.42 and a beta of 1.40. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. The stock has a 50 day moving average price of $50.74 and a 200-day moving average price of $47.71. General Motors has a 52-week low of $27.93 and a 52-week high of $59.39.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data 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. The business 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 quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.28 earnings per share. As a group, equities research analysts anticipate 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 paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date is Friday, December 6th. General Motors’s dividend 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.