CreativeOne Wealth LLC Trims Holdings in General Motors (NYSE:GM)

CreativeOne Wealth LLC lowered its position in General Motors (NYSE:GM) (TSE:GMM.U) by 20.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 8,673 shares of the auto manufacturer’s stock after selling 2,165 shares during the period. CreativeOne Wealth LLC’s holdings in General Motors were worth $389,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of GM. Strategic Investment Solutions Inc. IL acquired a new position in General Motors in the second quarter valued at approximately $25,000. Catalyst Capital Advisors LLC purchased a new stake in General Motors during the third quarter worth $27,000. Truvestments Capital LLC acquired a new stake in General Motors during the third quarter valued at $27,000. Wellington Shields Capital Management LLC purchased a new position in General Motors in the second quarter valued at $28,000. Finally, Fortitude Family Office LLC increased its stake 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 valued at $29,000 after purchasing an additional 225 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

GM has been the subject of a number of research reports. Wolfe Research began coverage on shares of General Motors in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. JPMorgan Chase & Co. boosted their price target on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $53.00 target price on shares of General Motors in a research report on Tuesday, September 10th. Morgan Stanley lowered General Motors from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $47.00 to $42.00 in a research report on Wednesday, September 25th. Finally, Barclays upped their price target on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $56.92.

General Motors Trading Down 1.0 %

General Motors stock opened at $55.04 on Tuesday. The stock has a market cap of $60.52 billion, a P/E ratio of 5.87, a P/E/G ratio of 0.42 and a beta of 1.40. General Motors has a 12 month low of $32.60 and a 12 month high of $61.24. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. The company’s fifty day simple moving average is $51.56 and its 200-day simple moving average is $48.10.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. The business had revenue of $48.76 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the company earned $2.28 earnings per share. As a group, sell-side analysts forecast that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Dividend Announcement

The company 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 dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio is currently 5.12%.

Insider Transactions at General Motors

In other General Motors news, CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total value of $27,028,923.92. Following the sale, the chief executive officer now directly owns 694,548 shares in the company, valued at approximately $37,040,244.84. The trade was a 42.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Rory Harvey sold 9,307 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $54.01, for a total value of $502,671.07. Following the sale, the executive vice president now owns 8,513 shares in the company, valued at $459,787.13. The trade was a 52.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,030,475 shares of company stock worth $56,509,286. Insiders own 0.72% of the company’s stock.

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.