ClearAlpha Technologies LP Sells 3,446 Shares of General Motors (NYSE:GM)

ClearAlpha Technologies LP reduced its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 24.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,459 shares of the auto manufacturer’s stock after selling 3,446 shares during the quarter. ClearAlpha Technologies LP’s holdings in General Motors were worth $469,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in GM. Strategic Investment Solutions Inc. IL purchased a new stake in shares of General Motors during the second quarter worth about $25,000. Catalyst Capital Advisors LLC bought a new position in General Motors during the 3rd quarter valued at approximately $27,000. Truvestments Capital LLC purchased a new stake in General Motors in the 3rd quarter worth approximately $27,000. Wellington Shields Capital Management LLC bought a new stake in shares of General Motors in the 2nd quarter worth approximately $28,000. Finally, Fortitude Family Office LLC increased its stake 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 valued at $29,000 after buying an additional 225 shares during the period. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Price Performance

GM opened at $55.59 on Monday. The company’s 50-day simple moving average is $51.56 and its two-hundred day simple moving average is $48.10. 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 market capitalization of $61.13 billion, a P/E ratio of 5.93, a P/E/G ratio of 0.42 and a beta of 1.40. General Motors has a 52-week low of $31.52 and a 52-week high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last issued 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. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The company had revenue of $48.76 billion for the quarter, compared to the consensus estimate of $44.67 billion. During the same quarter in the prior year, the firm earned $2.28 earnings per share. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, analysts predict that General Motors will post 10.35 EPS for the current 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 $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s payout ratio is currently 5.12%.

Insider Activity at General Motors

In related news, CEO Mary T. Barra sold 506,824 shares of the business’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 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 42.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Rory Harvey sold 8,919 shares of General Motors stock in a transaction on Monday, November 25th. The stock was sold at an average price of $60.01, for a total transaction of $535,229.19. Following the transaction, the executive vice president now owns 8,513 shares in the company, valued at $510,865.13. This represents a 51.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,030,475 shares of company stock worth $56,509,286. 0.72% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GM has been the subject of a number of research analyst reports. DZ Bank lowered General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target for the company. in a research note on Friday, October 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $53.00 target price on shares of General Motors in a research note on Tuesday, September 10th. The Goldman Sachs Group increased their price target on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Nomura Securities raised General Motors to a “strong sell” rating in a research report on Monday, August 5th. Finally, Nomura lowered General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price for the company. in a research report on Monday, August 5th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, General Motors presently has a consensus rating of “Hold” and an average target price of $56.92.

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.