General Motors (NYSE:GM) Shares Sold by Dakota Wealth Management

Dakota Wealth Management lessened its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 2.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,690 shares of the auto manufacturer’s stock after selling 2,109 shares during the quarter. Dakota Wealth Management’s holdings in General Motors were worth $3,439,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL purchased a new position in shares of General Motors during the 2nd quarter worth approximately $25,000. Wellington Shields Capital Management LLC acquired a new stake in shares of General Motors during the second quarter valued at $28,000. Fortitude Family Office LLC grew its holdings in shares of General Motors by 56.1% during the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after buying an additional 225 shares in the last quarter. Montag A & Associates Inc. acquired a new position in General Motors in the 1st quarter valued at $30,000. Finally, EdgeRock Capital LLC purchased a new position in General Motors during the second quarter worth about $33,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Price Performance

Shares of GM stock opened at $52.07 on Friday. The business has a fifty day simple moving average of $47.68 and a 200 day simple moving average of $46.13. General Motors has a twelve month low of $26.30 and a twelve month high of $54.29. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. The company has a market cap of $59.41 billion, a P/E ratio of 6.37, a P/E/G ratio of 0.56 and a beta of 1.42.

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 for the quarter, beating 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 15.77% and a net margin of 6.22%. General Motors’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.28 earnings per share. On average, sell-side analysts forecast that General Motors will post 9.95 EPS for the current fiscal year.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.92%. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on GM shares. Wolfe Research assumed coverage on shares of General Motors in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. UBS Group boosted their price objective on shares of General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday. Wells Fargo & Company increased their target price on General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a research report on Wednesday. Nomura cut General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target on the stock. in a report on Monday, August 5th. Finally, Nomura Securities upgraded shares of General Motors to a “strong sell” rating in a research report on Monday, August 5th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $56.92.

Insider Buying and Selling at General Motors

In other news, EVP Rory Harvey sold 2,302 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 10,356 shares of the company’s stock, valued at $489,942.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the sale, the chief executive officer now directly owns 694,548 shares in the company, valued at approximately $37,040,244.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Rory Harvey sold 2,302 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the sale, the executive vice president now directly owns 10,356 shares in the company, valued at $489,942.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 531,228 shares of company stock valued at $28,267,714. Company insiders own 0.72% of the company’s stock.

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.