Vestmark Advisory Solutions Inc. Trims Stock Position in General Motors (NYSE:GM)

Vestmark Advisory Solutions Inc. lowered its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 11.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 39,110 shares of the auto manufacturer’s stock after selling 5,123 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in General Motors were worth $1,466,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GM. AGF Investments LLC increased its holdings in General Motors by 28.0% in the 2nd quarter. AGF Investments LLC now owns 1,183 shares of the auto manufacturer’s stock worth $46,000 after acquiring an additional 259 shares in the last quarter. Milestone Group Inc. increased its holdings in General Motors by 4.1% in the 2nd quarter. Milestone Group Inc. now owns 7,350 shares of the auto manufacturer’s stock worth $283,000 after acquiring an additional 291 shares in the last quarter. Western Wealth Management LLC increased its holdings in General Motors by 4.5% in the 2nd quarter. Western Wealth Management LLC now owns 6,794 shares of the auto manufacturer’s stock worth $261,000 after acquiring an additional 294 shares in the last quarter. First Citizens Bank & Trust Co. increased its holdings in General Motors by 3.9% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 7,843 shares of the auto manufacturer’s stock worth $294,000 after acquiring an additional 294 shares in the last quarter. Finally, Rothschild Investment Corp IL increased its holdings in General Motors by 1.1% in the 2nd quarter. Rothschild Investment Corp IL now owns 27,967 shares of the auto manufacturer’s stock worth $1,078,000 after acquiring an additional 300 shares in the last quarter. 76.94% of the stock is owned by hedge funds and other institutional investors.

GM has been the subject of several analyst reports. Bank of America set a $55.00 target price on shares of General Motors and gave the stock a “buy” rating in a report on Tuesday, October 15th. UBS Group increased their price objective on shares of General Motors from $46.00 to $47.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Citigroup increased their price objective on shares of General Motors from $67.00 to $68.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Morgan Stanley set a $46.00 price objective on shares of General Motors and gave the company a “buy” rating in a report on Tuesday, September 17th. Finally, Royal Bank of Canada increased their price objective on shares of General Motors to $52.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. General Motors has a consensus rating of “Buy” and a consensus price target of $47.00.

In other news, EVP Matthew Tsien sold 16,933 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $39.50, for a total transaction of $668,853.50. Following the completion of the transaction, the executive vice president now directly owns 18,533 shares in the company, valued at approximately $732,053.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.51% of the stock is currently owned by corporate insiders.

Shares of NYSE GM traded down $0.13 during midday trading on Tuesday, reaching $38.59. 6,093,028 shares of the stock traded hands, compared to its average volume of 8,729,946. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.96 and a quick ratio of 0.82. The stock has a market capitalization of $55.25 billion, a PE ratio of 5.90, a P/E/G ratio of 0.74 and a beta of 1.40. General Motors has a one year low of $31.46 and a one year high of $41.90. The company’s 50 day moving average is $36.65 and its 200 day moving average is $37.49.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, October 29th. The auto manufacturer reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.54. The firm had revenue of $35.50 billion during the quarter, compared to the consensus estimate of $35.21 billion. General Motors had a return on equity of 19.78% and a net margin of 6.19%. The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.87 EPS. As a group, equities analysts forecast that General Motors will post 4.82 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, December 5th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.94%. General Motors’s dividend payout ratio is currently 23.24%.

General Motors Company Profile

General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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