D.A. Davidson & CO. Lowers Stake in General Motors (NYSE:GM)

D.A. Davidson & CO. lessened its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 13.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 47,065 shares of the auto manufacturer’s stock after selling 7,515 shares during the quarter. D.A. Davidson & CO.’s holdings in General Motors were worth $2,110,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Strategic Investment Solutions Inc. IL purchased a new stake in shares of General Motors in the 2nd quarter worth $25,000. Catalyst Capital Advisors LLC purchased a new stake in General Motors in the third quarter worth about $27,000. Truvestments Capital LLC purchased a new position in General Motors during the 3rd quarter valued at about $27,000. Wellington Shields Capital Management LLC bought a new stake in shares of General Motors in the 2nd quarter valued at about $28,000. Finally, Fortitude Family Office LLC lifted its position in shares of General Motors by 56.1% in the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after purchasing an additional 225 shares during the period. Institutional investors own 92.67% of the company’s stock.

General Motors Stock Up 0.2 %

Shares of GM stock opened at $55.62 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. General Motors has a fifty-two week low of $31.52 and a fifty-two week high of $61.24. The firm has a market capitalization of $61.16 billion, a PE ratio of 5.93, a P/E/G ratio of 0.42 and a beta of 1.40. The stock’s 50-day simple moving average is $51.56 and its 200-day simple moving average is $48.06.

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

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.86%. The ex-dividend date is Friday, December 6th. General Motors’s dividend payout ratio is currently 5.12%.

Insider Buying and Selling at General Motors

In other news, President Mark L. Reuss sold 122,283 shares of the firm’s stock in a transaction that occurred on 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. This represents a 42.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,030,475 shares of company stock worth $56,509,286. Insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

GM has been the subject of a number of recent research reports. Nomura Securities raised shares of General Motors to a “strong sell” rating in a research note on Monday, August 5th. UBS Group upped their price objective on General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group lifted their target price on General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $53.00 price target on shares of General Motors in a research report on Tuesday, September 10th. Finally, Wells Fargo & Company lifted their price objective on shares of General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 23rd. Four 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 company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $56.92.

General Motors Company 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.