InTrack Investment Management Inc Sells 6,639 Shares of General Motors (NYSE:GM)

InTrack Investment Management Inc lowered its position in General Motors (NYSE:GM) (TSE:GMM.U) by 49.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,683 shares of the auto manufacturer’s stock after selling 6,639 shares during the period. InTrack Investment Management Inc’s holdings in General Motors were worth $340,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Chicago Partners Investment Group LLC lifted its position in General Motors by 15.9% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 11,382 shares of the auto manufacturer’s stock valued at $510,000 after acquiring an additional 1,559 shares during the period. Donald Smith & CO. Inc. lifted its holdings in shares of General Motors by 12.1% during the third quarter. Donald Smith & CO. Inc. now owns 1,629,573 shares of the auto manufacturer’s stock valued at $73,070,000 after purchasing an additional 175,860 shares during the last quarter. Foster & Motley Inc. grew its stake in shares of General Motors by 121.5% in the 3rd quarter. Foster & Motley Inc. now owns 47,169 shares of the auto manufacturer’s stock worth $2,115,000 after buying an additional 25,869 shares during the last quarter. Stoneridge Investment Partners LLC increased its position in General Motors by 115.1% during the 3rd quarter. Stoneridge Investment Partners LLC now owns 178,443 shares of the auto manufacturer’s stock valued at $8,001,000 after buying an additional 95,484 shares in the last quarter. Finally, Olstein Capital Management L.P. raised its stake in General Motors by 14.9% during the third quarter. Olstein Capital Management L.P. now owns 162,000 shares of the auto manufacturer’s stock valued at $7,264,000 after buying an additional 21,000 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Stock Performance

Shares of NYSE GM opened at $50.90 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24. General Motors has a 12-month low of $34.32 and a 12-month high of $61.24. The firm has a market capitalization of $55.97 billion, a price-to-earnings ratio of 5.43, a price-to-earnings-growth ratio of 0.36 and a beta of 1.42. The firm has a 50 day moving average of $53.69 and a 200 day moving average of $49.59.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping the consensus estimate of $2.49 by $0.47. The firm had revenue of $48.76 billion during the quarter, compared to analyst estimates of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. General Motors’s revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.28 EPS. On average, research analysts anticipate that General Motors will post 10.34 earnings per share for the current year.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, December 6th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.94%. General Motors’s payout ratio is currently 5.12%.

Insider Activity at General Motors

In related news, CEO Mary T. Barra sold 506,824 shares of the company’s 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 completion of the transaction, the chief executive officer now owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. This represents a 42.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Rory Harvey sold 9,307 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total value of $502,671.07. Following the sale, the executive vice president now directly owns 8,513 shares in the company, valued at approximately $459,787.13. This represents a 52.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,030,475 shares of company stock worth $56,509,286. 0.72% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GM. Royal Bank of Canada increased their target price on General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Morgan Stanley upgraded shares of General Motors from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $46.00 to $54.00 in a research note on Tuesday, December 10th. The Goldman Sachs Group upped their target price on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Sanford C. Bernstein increased their price target on shares of General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $59.68.

General Motors Company 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.