General Motors (NYSE:GM) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC trimmed its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 2.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 411,812 shares of the auto manufacturer’s stock after selling 11,450 shares during the quarter. Janney Montgomery Scott LLC’s holdings in General Motors were worth $18,466,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in GM. SJS Investment Consulting Inc. lifted its stake in General Motors by 34.5% during the second quarter. SJS Investment Consulting Inc. now owns 792 shares of the auto manufacturer’s stock worth $37,000 after purchasing an additional 203 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of General Motors by 2.3% in the 3rd quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer’s stock valued at $412,000 after buying an additional 205 shares during the period. Fortitude Family Office LLC grew its position in shares of General Motors by 56.1% during the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after buying an additional 225 shares during the last quarter. SeaCrest Wealth Management LLC raised its stake in General Motors by 3.5% during the second quarter. SeaCrest Wealth Management LLC now owns 6,804 shares of the auto manufacturer’s stock worth $316,000 after acquiring an additional 227 shares during the period. Finally, Institute for Wealth Management LLC. lifted its holdings in General Motors by 0.6% in the second quarter. Institute for Wealth Management LLC. now owns 36,624 shares of the auto manufacturer’s stock worth $1,702,000 after acquiring an additional 230 shares during the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Stock Up 3.7 %

NYSE GM opened at $53.71 on Wednesday. General Motors has a 12 month low of $26.30 and a 12 month high of $54.29. The company has a market capitalization of $59.06 billion, a P/E ratio of 5.73, a PEG ratio of 0.39 and a beta of 1.40. The company’s 50 day simple moving average is $48.46 and its 200 day simple moving average is $46.66. 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 posted its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.47. The company had revenue of $48.76 billion for the quarter, compared to analysts’ expectations of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The firm’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.28 earnings per share. Equities research analysts expect that General Motors will post 10.34 earnings per share for the current fiscal year.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.89%. General Motors’s dividend payout ratio is currently 5.12%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Sanford C. Bernstein upped their target price on General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Friday, October 25th. The Goldman Sachs Group increased their target price on General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Wells Fargo & Company boosted their price target on shares of General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a report on Wednesday, October 23rd. Nomura Securities raised shares of General Motors to a “strong sell” rating in a report on Monday, August 5th. Finally, Royal Bank of Canada boosted their target price on shares of General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, General Motors has an average rating of “Hold” and a consensus price target of $56.92.

Insiders Place Their Bets

In other General Motors news, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 694,548 shares in the company, valued at $37,040,244.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Mary T. Barra sold 506,824 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the sale, the chief executive officer now owns 694,548 shares in the company, valued at $37,040,244.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total value of $108,907.62. Following the transaction, the executive vice president now owns 10,356 shares in the company, valued at $489,942.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 531,228 shares of company stock worth $28,267,714. Company 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.