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

W.G. Shaheen & Associates DBA Whitney & Co cut its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 3.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,350 shares of the auto manufacturer’s stock after selling 200 shares during the quarter. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in General Motors were worth $240,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Fifth Third Wealth Advisors LLC lifted its stake in shares of General Motors by 2.3% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 18,581 shares of the auto manufacturer’s stock worth $833,000 after purchasing an additional 416 shares during the last quarter. Prospera Financial Services Inc raised its holdings in General Motors by 25.7% in the third quarter. Prospera Financial Services Inc now owns 24,891 shares of the auto manufacturer’s stock worth $1,116,000 after purchasing an additional 5,089 shares in the last quarter. Meeder Asset Management Inc. lifted its position in shares of General Motors by 1,167.9% during the third quarter. Meeder Asset Management Inc. now owns 12,920 shares of the auto manufacturer’s stock valued at $579,000 after buying an additional 11,901 shares during the last quarter. Caprock Group LLC boosted its holdings in shares of General Motors by 15.3% in the 3rd quarter. Caprock Group LLC now owns 29,402 shares of the auto manufacturer’s stock valued at $1,318,000 after buying an additional 3,899 shares in the last quarter. Finally, Quest Partners LLC grew its position in shares of General Motors by 81.0% in the 3rd quarter. Quest Partners LLC now owns 37,516 shares of the auto manufacturer’s stock worth $1,682,000 after buying an additional 16,788 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Buying and Selling

In other General Motors news, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the sale, the executive vice president now directly owns 10,356 shares in the company, valued at approximately $489,942.36. The trade was a 18.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $6,745,130.28. Following the completion of the transaction, the president now owns 126,907 shares in the company, valued at approximately $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 sold 653,511 shares of company stock valued at $35,012,844. 0.72% of the stock is owned by company insiders.

General Motors Trading Down 1.4 %

General Motors stock opened at $56.26 on Tuesday. 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 firm has a market cap of $61.86 billion, a PE ratio of 6.00, a P/E/G ratio of 0.43 and a beta of 1.40. The stock’s 50 day simple moving average is $49.90 and its two-hundred day simple moving average is $47.40. General Motors has a 12 month low of $27.70 and a 12 month high of $59.39.

General Motors (NYSE:GM) (TSE:GMM.U) last announced 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 firm had revenue of $48.76 billion for the quarter, compared to the consensus estimate of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.28 earnings per share. Analysts anticipate that General Motors will post 10.35 earnings per share for the current year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 annualized dividend and a dividend yield of 0.85%. General Motors’s dividend payout ratio is presently 5.12%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GM. Wells Fargo & Company raised their target price on shares of General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a research note on Wednesday, October 23rd. Nomura downgraded General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price on the stock. in a research note on Monday, August 5th. UBS Group upped their target price on General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Nomura Securities raised General Motors to a “strong sell” rating in a report on Monday, August 5th. Finally, Royal Bank of Canada upped their price objective on shares of General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target 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.