General Motors (NYSE:GM) Position Increased by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC increased its position in General Motors (NYSE:GM) (TSE:GMM.U) by 6.7% in the third quarter, HoldingsChannel reports. The firm owned 63,342 shares of the auto manufacturer’s stock after acquiring an additional 3,964 shares during the period. Orion Portfolio Solutions LLC’s holdings in General Motors were worth $2,840,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its stake in General Motors by 2.3% in the 3rd quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer’s stock worth $412,000 after purchasing an additional 205 shares during the period. Avestar Capital LLC boosted its stake in General Motors by 2.3% in the 3rd quarter. Avestar Capital LLC now owns 9,592 shares of the auto manufacturer’s stock worth $430,000 after purchasing an additional 213 shares during the period. SeaCrest Wealth Management LLC boosted its stake in General Motors by 3.5% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 6,804 shares of the auto manufacturer’s stock worth $316,000 after purchasing an additional 227 shares during the period. Institute for Wealth Management LLC. boosted its stake in General Motors by 0.6% in the 2nd quarter. Institute for Wealth Management LLC. now owns 36,624 shares of the auto manufacturer’s stock worth $1,702,000 after purchasing an additional 230 shares during the period. Finally, Metis Global Partners LLC boosted its stake in General Motors by 0.6% in the 3rd quarter. Metis Global Partners LLC now owns 36,240 shares of the auto manufacturer’s stock worth $1,625,000 after purchasing an additional 230 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Stock Performance

Shares of General Motors stock opened at $52.76 on Wednesday. The company has a 50 day moving average of $52.41 and a 200-day moving average of $48.47. General Motors has a 1-year low of $32.83 and a 1-year high of $61.24. 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 company has a market cap of $58.01 billion, a PE ratio of 5.62, a price-to-earnings-growth ratio of 0.40 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results 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. 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 during the quarter, compared to the consensus estimate of $44.67 billion. During the same quarter in the prior year, the firm posted $2.28 EPS. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. As a group, equities research analysts forecast that General Motors will post 10.35 earnings per share for the current fiscal year.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio is 5.12%.

Insider Buying and Selling

In related news, EVP Rory Harvey sold 8,919 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $60.01, for a total transaction of $535,229.19. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at $510,865.13. This represents a 51.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Mark L. Reuss sold 122,283 shares of the company’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 completion of the transaction, the president now owns 126,907 shares of the company’s stock, valued at approximately $7,000,190.12. This trade represents a 49.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,030,475 shares of company stock worth $56,509,286 in the last three months. 0.72% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on GM shares. Mizuho lifted their target price on shares of General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $53.00 price target on shares of General Motors in a report on Tuesday, September 10th. UBS Group lifted their target price on shares of General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Wells Fargo & Company lifted their target price on shares of General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a report on Wednesday, October 23rd. Finally, 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 report on Tuesday, October 1st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, General Motors has a consensus rating of “Hold” and a consensus target price of $58.89.

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.