General Motors (NYSE:GM) Shares Sold by Cetera Trust Company N.A

Cetera Trust Company N.A reduced its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 3.2% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 34,634 shares of the auto manufacturer’s stock after selling 1,150 shares during the period. Cetera Trust Company N.A’s holdings in General Motors were worth $1,553,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. SJS Investment Consulting Inc. boosted its holdings in General Motors by 34.5% in the 2nd quarter. SJS Investment Consulting Inc. now owns 792 shares of the auto manufacturer’s stock valued at $37,000 after purchasing an additional 203 shares during the last quarter. Fortitude Family Office LLC increased its stake in 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 acquiring an additional 225 shares during the last quarter. SeaCrest Wealth Management LLC increased its stake in General Motors by 3.5% during the second quarter. SeaCrest Wealth Management LLC now owns 6,804 shares of the auto manufacturer’s stock worth $316,000 after acquiring an additional 227 shares during the last quarter. Institute for Wealth Management LLC. raised its position 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. Finally, Beech Hill Advisors Inc. lifted its stake in shares of General Motors by 1.6% in the 2nd quarter. Beech Hill Advisors Inc. now owns 15,233 shares of the auto manufacturer’s stock valued at $708,000 after purchasing an additional 233 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Wells Fargo & Company decreased their price objective on shares of General Motors from $34.00 to $33.00 and set an “underweight” rating on the stock in a report on Tuesday, September 10th. Morgan Stanley lowered shares of General Motors from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $47.00 to $42.00 in a report on Wednesday, September 25th. Nomura Securities upgraded shares of General Motors to a “strong sell” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. increased their price objective on General Motors from $60.00 to $61.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, Nomura cut General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price for the company. in a research note on Monday, August 5th. Four analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $55.35.

General Motors Stock Performance

Shares of GM stock traded up $4.24 during mid-day trading on Tuesday, hitting $53.17. 21,021,633 shares of the stock were exchanged, compared to its average volume of 15,074,813. The stock’s fifty day simple moving average is $47.13 and its two-hundred day simple moving average is $45.97. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18. General Motors has a 12-month low of $26.30 and a 12-month high of $53.22. The stock has a market capitalization of $60.66 billion, a price-to-earnings ratio of 6.43, a P/E/G ratio of 0.56 and a beta of 1.42.

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

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.90%. General Motors’s payout ratio is 5.87%.

Insider Activity at General Motors

In other General Motors news, EVP Rory Harvey sold 12,795 shares of General Motors stock in a transaction on Monday, August 26th. The shares were sold at an average price of $49.02, for a total value of $627,210.90. Following the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at approximately $417,307.26. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other General Motors news, EVP Rory Harvey sold 12,795 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $49.02, for a total transaction of $627,210.90. Following the completion of the sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at approximately $417,307.26. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Paul A. Jacobson bought 25,000 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was bought at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the acquisition, the chief financial officer now owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.72% of the stock is owned by insiders.

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.