Fiduciary Trust Co Sells 684 Shares of General Motors (NYSE:GM)

Fiduciary Trust Co lessened its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 8.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 7,906 shares of the auto manufacturer’s stock after selling 684 shares during the period. Fiduciary Trust Co’s holdings in General Motors were worth $355,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Jennison Associates LLC grew its holdings in General Motors by 123.1% during the third quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer’s stock valued at $144,655,000 after purchasing an additional 1,779,897 shares during the last quarter. Artemis Investment Management LLP raised its holdings in General Motors by 581.4% in the 3rd quarter. Artemis Investment Management LLP now owns 1,601,856 shares of the auto manufacturer’s stock worth $71,827,000 after acquiring an additional 1,366,768 shares during the period. Dimensional Fund Advisors LP lifted its position in General Motors by 9.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock worth $600,291,000 after acquiring an additional 1,091,137 shares during the last quarter. Panagora Asset Management Inc. boosted its holdings in General Motors by 3,333.1% during the second quarter. Panagora Asset Management Inc. now owns 783,340 shares of the auto manufacturer’s stock valued at $36,394,000 after acquiring an additional 760,523 shares during the period. Finally, Public Employees Retirement Association of Colorado grew its position in shares of General Motors by 33.9% in the second quarter. Public Employees Retirement Association of Colorado now owns 2,909,540 shares of the auto manufacturer’s stock valued at $135,177,000 after purchasing an additional 736,457 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Stock Performance

General Motors stock opened at $55.59 on Friday. General Motors has a 52-week low of $31.52 and a 52-week high of $61.24. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. The stock has a fifty day moving average price of $51.56 and a two-hundred day moving average price of $48.08. The firm has a market capitalization of $61.13 billion, a P/E ratio of 5.93, a P/E/G ratio of 0.42 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last announced 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 firm had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period last year, the firm posted $2.28 EPS. As a group, analysts anticipate that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors 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 0.86%. General Motors’s dividend payout ratio (DPR) is presently 5.12%.

Insider Activity at General Motors

In related news, President Mark L. Reuss sold 122,283 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total value of $6,745,130.28. Following the completion of the sale, the president now owns 126,907 shares of the company’s stock, valued at $7,000,190.12. This trade represents a 49.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Rory Harvey sold 9,307 shares of the company’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 transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 1,030,475 shares of company stock valued at $56,509,286 in the last three months. Corporate insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

GM has been the subject of several research analyst reports. Sanford C. Bernstein boosted their price objective 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. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $53.00 price objective on shares of General Motors in a research note on Tuesday, September 10th. JPMorgan Chase & Co. upped their target price on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Nomura lowered shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target on the stock. in a research report on Monday, August 5th. Finally, UBS Group boosted their price objective on shares of General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $56.92.

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.