General Motors (NYSE:GM) Shares Sold by Highline Wealth Partners LLC

Highline Wealth Partners LLC cut its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 12.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 10,576 shares of the auto manufacturer’s stock after selling 1,542 shares during the period. Highline Wealth Partners LLC’s holdings in General Motors were worth $563,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in General Motors by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 23,620,533 shares of the auto manufacturer’s stock valued at $1,055,395,000 after purchasing an additional 106,878 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in General Motors by 6.1% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer’s stock worth $774,766,000 after acquiring an additional 989,750 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in General Motors by 9.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock valued at $600,291,000 after acquiring an additional 1,091,137 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in shares of General Motors by 3.9% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 11,113,063 shares of the auto manufacturer’s stock worth $498,310,000 after purchasing an additional 421,989 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of General Motors by 6.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 5,798,131 shares of the auto manufacturer’s stock valued at $259,988,000 after purchasing an additional 358,507 shares during the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at General Motors

In related news, President Mark L. Reuss sold 122,283 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total value of $6,745,130.28. Following the transaction, the president now owns 126,907 shares in the company, valued at $7,000,190.12. The trade was a 49.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Craig B. Glidden sold 383,142 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $56.63, for a total value of $21,697,331.46. Following the sale, the executive vice president now directly owns 122,465 shares of the company’s stock, valued at $6,935,192.95. The trade was a 75.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,030,475 shares of company stock valued at $56,509,286 over the last ninety days. Insiders own 0.72% of the company’s stock.

General Motors Stock Down 1.3 %

Shares of General Motors stock traded down $0.64 during trading on Friday, hitting $50.36. 3,201,981 shares of the stock were exchanged, compared to its average volume of 8,028,341. The stock has a market cap of $55.38 billion, a price-to-earnings ratio of 5.37, a price-to-earnings-growth ratio of 0.40 and a beta of 1.42. The firm’s 50-day moving average price is $53.95 and its 200 day moving average price is $49.44. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. General Motors has a 12-month low of $34.32 and a 12-month high of $61.24.

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

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Friday, December 6th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend was Friday, December 6th. General Motors’s dividend payout ratio (DPR) is 5.12%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Royal Bank of Canada upped their target price on General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Mizuho increased their price target on shares of General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. UBS Group increased their price objective on General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Sanford C. Bernstein raised their price objective on General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. increased their target price 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. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $59.58.

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.