General Motors (NYSE:GM) Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. trimmed its position in General Motors (NYSE:GM) (TSE:GMM.U) by 11.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,646 shares of the auto manufacturer’s stock after selling 1,779 shares during the quarter. Logan Capital Management Inc.’s holdings in General Motors were worth $612,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Strategic Investment Solutions Inc. IL acquired a new position in General Motors in the second quarter valued at approximately $25,000. Catalyst Capital Advisors LLC acquired a new position in shares of General Motors in the 3rd quarter valued at $27,000. Wellington Shields Capital Management LLC acquired a new position in shares of General Motors in the 2nd quarter valued at $28,000. Truvestments Capital LLC purchased a new position in shares of General Motors in the 3rd quarter valued at $27,000. Finally, EdgeRock Capital LLC acquired a new stake in General Motors during the 2nd quarter worth $33,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Rory Harvey sold 9,307 shares of General Motors stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $54.01, for a total transaction of $502,671.07. Following the completion of the transaction, the executive vice president now owns 8,513 shares of the company’s stock, valued at $459,787.13. The trade was a 52.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Mary T. Barra sold 506,824 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the sale, the chief executive officer now directly owns 694,548 shares in the company, valued at approximately $37,040,244.84. The trade was a 42.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,030,475 shares of company stock worth $56,509,286. Company insiders own 0.72% of the company’s stock.

General Motors Stock Up 0.4 %

General Motors stock opened at $52.52 on Friday. The stock’s 50 day moving average price is $53.00 and its 200 day moving average price is $48.64. General Motors has a 1-year low of $34.32 and a 1-year high of $61.24. The company has a market cap of $57.75 billion, a PE ratio of 5.60, a price-to-earnings-growth ratio of 0.39 and a beta of 1.42. 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 issued its earnings results 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 company had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The business’s revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.28 EPS. On average, sell-side analysts predict that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be issued a $0.12 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.91%. General Motors’s dividend payout ratio (DPR) is presently 5.12%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GM. UBS Group raised their price objective on General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Wells Fargo & Company raised their price target on General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 23rd. Mizuho boosted their price objective on General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. HSBC lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price on the stock. in a research report on Wednesday. Finally, DZ Bank downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target for the company. in a research report on Friday, October 11th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $58.85.

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.