Cetera Trust Company N.A Lowers Stock Position in General Motors (NYSE:GM)

Cetera Trust Company N.A trimmed its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 3.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,634 shares of the auto manufacturer’s stock after selling 1,150 shares during the period. Cetera Trust Company N.A’s holdings in General Motors were worth $1,553,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Capital World Investors grew its position in General Motors by 14.6% during the first quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock worth $2,211,609,000 after buying an additional 6,201,777 shares during the period. Bank of New York Mellon Corp increased its stake in General Motors by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 12,951,561 shares of the auto manufacturer’s stock valued at $601,730,000 after purchasing an additional 135,717 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in General Motors by 9.2% during the second quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock worth $600,291,000 after purchasing an additional 1,091,137 shares during the last quarter. LSV Asset Management boosted its position in General Motors by 2.6% during the second quarter. LSV Asset Management now owns 8,847,440 shares of the auto manufacturer’s stock worth $411,052,000 after purchasing an additional 223,260 shares in the last quarter. Finally, ACR Alpine Capital Research LLC grew its holdings in General Motors by 8.4% in the first quarter. ACR Alpine Capital Research LLC now owns 6,337,547 shares of the auto manufacturer’s stock valued at $287,408,000 after purchasing an additional 492,693 shares during the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Trading Up 8.7 %

NYSE:GM traded up $4.24 on Tuesday, hitting $53.17. 21,021,633 shares of the stock were exchanged, compared to its average volume of 15,074,813. The stock has a fifty day moving average of $47.13 and a 200-day moving average of $45.97. The stock has a market cap of $60.66 billion, a PE ratio of 6.43, a PEG ratio of 0.56 and a beta of 1.42. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $53.22.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.67 by $0.39. The firm had revenue of $47.97 billion during the quarter, compared to the consensus estimate of $45.13 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The company’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.91 EPS. As a group, equities analysts expect that General Motors will post 9.95 earnings per share for the current fiscal year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.90%. General Motors’s dividend payout ratio is presently 5.87%.

Analyst Ratings Changes

Several research firms recently commented on GM. The Goldman Sachs Group boosted their price objective on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. DZ Bank downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target on the stock. in a report on Friday, October 11th. Morgan Stanley cut shares of General Motors from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $47.00 to $42.00 in a research note on Wednesday, September 25th. JPMorgan Chase & Co. upped their target price on General Motors from $60.00 to $61.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, Wedbush reissued an “outperform” rating and set a $55.00 price target on shares of General Motors in a research report on Wednesday, October 9th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $55.35.

Insider Activity at General Motors

In related news, EVP Rory Harvey sold 12,795 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $49.02, for a total value of $627,210.90. Following the completion of the sale, the executive vice president now directly owns 8,513 shares in the company, valued at approximately $417,307.26. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other General Motors news, EVP Rory Harvey sold 12,795 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $49.02, for a total value of $627,210.90. Following the completion of the transaction, the executive vice president now owns 8,513 shares in the company, valued at $417,307.26. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Paul A. Jacobson acquired 25,000 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were purchased at an average price of $44.11 per share, for a total transaction of $1,102,750.00. Following the purchase, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.72% of the company’s stock.

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.