D.A. Davidson & CO. Sells 7,515 Shares of General Motors (NYSE:GM)

D.A. Davidson & CO. lessened its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 13.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,065 shares of the auto manufacturer’s stock after selling 7,515 shares during the period. 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 hedge funds have also added to or reduced their stakes in GM. LRI Investments LLC bought a new position in General Motors in the first quarter valued at about $34,000. Cetera Investment Advisers lifted its stake in shares of General Motors by 98.5% in the 1st quarter. Cetera Investment Advisers now owns 330,611 shares of the auto manufacturer’s stock worth $14,993,000 after purchasing an additional 164,083 shares during the period. Cetera Advisors LLC boosted its holdings in shares of General Motors by 233.2% in the first quarter. Cetera Advisors LLC now owns 177,567 shares of the auto manufacturer’s stock worth $8,053,000 after buying an additional 124,276 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in General Motors by 13.2% during the first quarter. EverSource Wealth Advisors LLC now owns 6,460 shares of the auto manufacturer’s stock valued at $288,000 after buying an additional 752 shares during the period. Finally, Transcend Capital Advisors LLC raised its position in General Motors by 9.7% in the second quarter. Transcend Capital Advisors LLC now owns 59,967 shares of the auto manufacturer’s stock worth $2,786,000 after acquiring an additional 5,296 shares during the period. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

General Motors Stock Performance

NYSE:GM opened at $55.62 on Friday. The company has a market cap of $61.16 billion, a price-to-earnings ratio of 5.93, a PEG ratio of 0.42 and a beta of 1.40. General Motors has a 1 year low of $31.52 and a 1 year high of $61.24. The stock’s 50 day simple moving average is $51.56 and its two-hundred day simple moving average is $48.06. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03.

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 for the quarter, topping the consensus estimate 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 analysts’ expectations of $44.67 billion. During the same quarter in the previous year, the business posted $2.28 earnings per share. General Motors’s quarterly revenue was up 10.5% on a year-over-year basis. As a group, equities analysts anticipate that General Motors will post 10.35 earnings per share for the current fiscal 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 issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s payout ratio is 5.12%.

Insider Buying and Selling

In related news, CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction dated 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 directly owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. The trade was a 42.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Rory Harvey sold 8,919 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $60.01, for a total transaction of $535,229.19. Following the completion of the sale, the executive vice president now directly owns 8,513 shares in the company, valued at $510,865.13. This trade represents a 51.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,030,475 shares of company stock worth $56,509,286. Corporate insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GM. Wells Fargo & Company upped their price objective on General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada raised their price objective on General Motors from $58.00 to $65.00 and gave the stock an “outperform” 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 price objective for the company. in a research note on Monday, August 5th. The Goldman Sachs Group raised their target price 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. Finally, Nomura Securities upgraded shares of General Motors to a “strong sell” rating in a research report on Monday, August 5th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.