Patten & Patten Inc. TN Lowers Stock Holdings in General Motors (NYSE:GM)

Patten & Patten Inc. TN lessened its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 14.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 25,930 shares of the auto manufacturer’s stock after selling 4,435 shares during the quarter. Patten & Patten Inc. TN’s holdings in General Motors were worth $1,163,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Strategic Investment Solutions Inc. IL acquired a new stake in shares of General Motors during the 2nd quarter worth about $25,000. Catalyst Capital Advisors LLC acquired a new stake in shares of General Motors during the 3rd quarter worth about $27,000. Wellington Shields Capital Management LLC acquired a new stake in shares of General Motors during the 2nd quarter worth about $28,000. Fortitude Family Office LLC raised 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 acquiring an additional 225 shares in the last quarter. Finally, EdgeRock Capital LLC acquired a new stake in shares of General Motors during the 2nd quarter worth about $33,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

GM has been the topic of several research analyst reports. The Goldman Sachs Group raised 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. Sanford C. Bernstein raised their target price on General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research report on Friday, October 25th. Wedbush lifted their price target on General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. UBS Group lifted their price target on General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Nomura Securities raised General Motors to a “strong sell” rating in a research report on Monday, August 5th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, General Motors presently has a consensus rating of “Hold” and an average price target of $56.92.

Insiders Place Their Bets

In other news, President Mark L. Reuss sold 122,283 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total value of $6,745,130.28. Following the completion of the transaction, the president now directly owns 126,907 shares of the company’s stock, valued at $7,000,190.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Rory Harvey sold 9,307 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $54.01, for a total value of $502,671.07. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $459,787.13. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Mark L. Reuss sold 122,283 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total value of $6,745,130.28. Following the completion of the transaction, the president now directly owns 126,907 shares of the company’s stock, valued at approximately $7,000,190.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 653,511 shares of company stock worth $35,012,844. 0.72% of the stock is owned by corporate insiders.

General Motors Stock Up 3.7 %

General Motors stock opened at $57.66 on Tuesday. 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 has a 1-year low of $26.64 and a 1-year high of $58.22. The company has a market cap of $63.40 billion, a PE ratio of 6.15, a price-to-earnings-growth ratio of 0.42 and a beta of 1.40. The stock’s 50 day moving average price is $48.81 and its 200 day moving average price is $46.89.

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

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.83%. General Motors’s payout ratio is 5.12%.

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.