General Motors (NYSE:GM) Holdings Decreased by MidWestOne Financial Group Inc.

MidWestOne Financial Group Inc. cut its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 7.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 45,585 shares of the auto manufacturer’s stock after selling 3,545 shares during the period. MidWestOne Financial Group Inc.’s holdings in General Motors were worth $2,044,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL bought a new position in General Motors in the second quarter worth about $25,000. Catalyst Capital Advisors LLC acquired a new stake in shares of General Motors during the 3rd quarter worth approximately $27,000. Truvestments Capital LLC acquired a new stake in shares of General Motors during the 3rd quarter worth approximately $27,000. Wellington Shields Capital Management LLC bought a new stake in shares of General Motors in the 2nd quarter worth approximately $28,000. Finally, EdgeRock Capital LLC acquired a new position in General Motors during the 2nd quarter valued at approximately $33,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Trading Down 1.3 %

Shares of NYSE GM opened at $52.74 on Tuesday. The business has a fifty day simple moving average of $52.41 and a 200-day simple moving average of $48.47. The company has a market cap of $57.99 billion, a price-to-earnings ratio of 5.62, a P/E/G ratio of 0.40 and a beta of 1.42. General Motors has a 12 month low of $32.83 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.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS 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 during the quarter, compared to analysts’ expectations of $44.67 billion. During the same period last year, the company posted $2.28 earnings per share. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. Sell-side analysts predict that General Motors will post 10.35 EPS for the current year.

General Motors Dividend Announcement

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 issued a $0.12 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.91%. General Motors’s payout ratio is currently 5.12%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on GM shares. The Goldman Sachs Group raised their target price on General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Wolfe Research assumed coverage on shares of General Motors in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Royal Bank of Canada upped their target price on shares of General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Wedbush lifted their price target on General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Finally, UBS Group boosted their price objective on General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, General Motors presently has a consensus rating of “Hold” and a consensus target price of $58.89.

Insider Transactions at General Motors

In other news, EVP Rory Harvey sold 9,307 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total value of $502,671.07. Following the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at approximately $459,787.13. This represents a 52.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 of the company’s stock, valued at approximately $37,040,244.84. The trade was a 42.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,030,475 shares of company stock valued at $56,509,286 over the last quarter. 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.