W.G. Shaheen & Associates DBA Whitney & Co Decreases Stake in General Motors (NYSE:GM)

W.G. Shaheen & Associates DBA Whitney & Co lessened its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 3.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,350 shares of the auto manufacturer’s stock after selling 200 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in General Motors were worth $240,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL purchased a new stake in General Motors during the second quarter worth about $25,000. Catalyst Capital Advisors LLC acquired a new stake in General Motors during the 3rd quarter worth approximately $27,000. Wellington Shields Capital Management LLC acquired a new stake in General Motors during the 2nd quarter worth approximately $28,000. Fortitude Family Office LLC boosted its position in General Motors by 56.1% in the 2nd 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. Finally, EdgeRock Capital LLC acquired a new position in shares of General Motors in the second quarter worth $33,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insider Buying and Selling at General Motors

In other news, EVP Rory Harvey sold 2,302 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total transaction of $108,907.62. Following the transaction, the executive vice president now directly owns 10,356 shares of the company’s stock, valued at $489,942.36. This represents a 18.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Mark L. Reuss sold 122,283 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the completion of the sale, the president now owns 126,907 shares of the company’s stock, valued at $7,000,190.12. This trade represents a 49.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 653,511 shares of company stock valued at $35,012,844. 0.72% of the stock is owned by corporate insiders.

General Motors Trading Down 1.4 %

NYSE:GM opened at $56.26 on Tuesday. General Motors has a 12-month low of $27.70 and a 12-month high of $59.39. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24. The stock’s 50 day simple moving average is $49.90 and its 200-day simple moving average is $47.40. The firm has a market cap of $61.86 billion, a P/E ratio of 6.00, a PEG ratio of 0.43 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last announced 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 company had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. During the same quarter in the prior year, the firm earned $2.28 EPS. General Motors’s quarterly revenue was up 10.5% on a year-over-year basis. Equities analysts anticipate 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 given a $0.12 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.85%. General Motors’s payout ratio is currently 5.12%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on GM shares. Wells Fargo & Company increased their price objective on General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a research note on Wednesday, October 23rd. Nomura Securities upgraded General Motors to a “strong sell” rating in a research note on Monday, August 5th. Wedbush boosted their price objective on General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Nomura cut shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price on the stock. in a report on Monday, August 5th. Finally, Sanford C. Bernstein lifted their price target on shares of General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday, October 25th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $56.92.

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.