West Branch Capital LLC Sells 982 Shares of General Motors (NYSE:GM)

West Branch Capital LLC lessened its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 12.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,790 shares of the auto manufacturer’s stock after selling 982 shares during the quarter. West Branch Capital LLC’s holdings in General Motors were worth $304,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Strategic Investment Solutions Inc. IL bought a new position in shares of General Motors during the 2nd quarter worth $25,000. Wellington Shields Capital Management LLC bought a new position in shares of General Motors during the 2nd quarter worth $28,000. 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 worth $29,000 after buying an additional 225 shares in the last quarter. Montag A & Associates Inc. bought a new position in shares of General Motors during the 1st quarter worth $30,000. Finally, EdgeRock Capital LLC bought a new position in shares of General Motors during the 2nd quarter worth $33,000. Institutional investors own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on GM shares. Wolfe Research started coverage on General Motors in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. DZ Bank cut General Motors from a “buy” rating to a “hold” rating and set a $49.00 price objective for the company. in a research note on Friday, October 11th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $53.00 price objective on shares of General Motors in a research note on Tuesday, September 10th. StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. upped their price objective on General Motors from $60.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $55.35.

Insider Activity

In related news, EVP Rory Harvey sold 12,795 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $49.02, for a total transaction of $627,210.90. Following the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at $417,307.26. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Rory Harvey sold 12,795 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $49.02, for a total value of $627,210.90. Following the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at approximately $417,307.26. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Paul A. Jacobson bought 25,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were bought at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the purchase, the chief financial officer now owns 261,872 shares in the company, valued at approximately $11,551,173.92. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.72% of the company’s stock.

General Motors Stock Performance

GM traded down $0.20 on Friday, hitting $49.18. 9,500,117 shares of the company traded hands, compared to its average volume of 15,063,185. The company has a 50 day moving average of $47.01 and a 200-day moving average of $45.93. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $56.11 billion, a PE ratio of 6.01, a PEG ratio of 0.56 and a beta of 1.42. General Motors has a 12-month low of $26.30 and a 12-month high of $50.50.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.67 by $0.39. The firm had revenue of $47.97 billion for the quarter, compared to analysts’ expectations of $45.13 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. General Motors’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.91 EPS. Sell-side analysts anticipate that General Motors will post 9.95 earnings per share for the current year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, September 6th were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.98%. General Motors’s payout ratio is currently 5.87%.

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.