Ballentine Partners LLC Reduces Stock Position in General Motors (NYSE:GM)

Ballentine Partners LLC trimmed its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 5.5% in the third quarter, Holdings Channel reports. The institutional investor owned 16,561 shares of the auto manufacturer’s stock after selling 968 shares during the period. Ballentine Partners LLC’s holdings in General Motors were worth $743,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in GM. Vicus Capital boosted its holdings in General Motors by 22.2% in the first quarter. Vicus Capital now owns 10,285 shares of the auto manufacturer’s stock valued at $466,000 after purchasing an additional 1,870 shares in the last quarter. Founders Financial Securities LLC boosted its holdings in shares of General Motors by 21.8% in the 1st quarter. Founders Financial Securities LLC now owns 19,614 shares of the auto manufacturer’s stock valued at $889,000 after buying an additional 3,510 shares in the last quarter. HFG Advisors Inc. purchased a new position in shares of General Motors in the 1st quarter valued at $341,000. Claro Advisors LLC raised its stake in General Motors by 17.3% during the 1st quarter. Claro Advisors LLC now owns 7,184 shares of the auto manufacturer’s stock worth $326,000 after acquiring an additional 1,057 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in General Motors by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,536,428 shares of the auto manufacturer’s stock valued at $69,677,000 after acquiring an additional 129,128 shares during the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on GM. Nomura Securities raised General Motors to a “strong sell” rating in a report on Monday, August 5th. Wedbush raised their price target on General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday. Sanford C. Bernstein boosted their price objective on General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday. JPMorgan Chase & Co. raised their target price on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, 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. Four analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $56.92.

General Motors Price Performance

General Motors stock opened at $52.07 on Friday. The company has a market cap of $58.52 billion, a P/E ratio of 5.55, a price-to-earnings-growth ratio of 0.60 and a beta of 1.42. General Motors has a one year low of $26.30 and a one year high of $54.29. The business has a fifty day moving average of $47.81 and a two-hundred day moving average of $46.19. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.21.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The firm had revenue of $48.76 billion for the quarter, compared to the consensus estimate of $44.67 billion. During the same quarter in the previous year, the firm earned $2.28 earnings per share. The firm’s revenue was up 10.5% on a year-over-year basis. As a group, analysts predict that General Motors will post 10.05 earnings per share for the current fiscal year.

General Motors Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, December 6th. This represents a $0.48 annualized dividend and a yield of 0.92%. General Motors’s dividend payout ratio is presently 5.12%.

Insiders Place Their Bets

In other news, CEO Mary T. Barra sold 506,824 shares of General Motors 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 completion of the transaction, the chief executive officer now owns 694,548 shares of the company’s stock, valued at $37,040,244.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the transaction, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at $37,040,244.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Rory Harvey sold 9,307 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total value of $502,671.07. Following the sale, the executive vice president now owns 8,513 shares in the company, valued at approximately $459,787.13. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 531,228 shares of company stock worth $28,267,714. 0.72% of the stock is owned by corporate insiders.

General Motors 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.