Thompson Siegel & Walmsley LLC Reduces Holdings in General Motors (NYSE:GM)

Thompson Siegel & Walmsley LLC reduced its position in General Motors (NYSE:GM) (TSE:GMM.U) by 2.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 43,000 shares of the auto manufacturer’s stock after selling 1,000 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in General Motors were worth $1,928,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of GM. Strategic Investment Solutions Inc. IL purchased a new position in General Motors in the second quarter valued at about $25,000. Catalyst Capital Advisors LLC purchased a new position in shares of General Motors during the 3rd quarter valued at approximately $27,000. Wellington Shields Capital Management LLC acquired a new stake in shares of General Motors during the second quarter worth approximately $28,000. Fortitude Family Office LLC increased its stake in shares of General Motors by 56.1% in the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after buying an additional 225 shares during the last quarter. Finally, EdgeRock Capital LLC acquired a new stake in General Motors in the second quarter valued at $33,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GM has been the subject of several research analyst reports. Barclays boosted their target price on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Wolfe Research assumed coverage on General Motors in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Sanford C. Bernstein lifted 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. Nomura lowered 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, Morgan Stanley cut General Motors from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $47.00 to $42.00 in a research note on Wednesday, September 25th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $56.92.

Insider Activity

In other General Motors news, EVP Craig B. Glidden sold 383,142 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $56.63, for a total value of $21,697,331.46. Following the sale, the executive vice president now directly owns 122,465 shares in the company, valued at approximately $6,935,192.95. The trade was a 75.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Mark L. Reuss sold 122,283 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the transaction, the president now owns 126,907 shares of the company’s stock, valued at approximately $7,000,190.12. This trade represents a 49.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,034,351 shares of company stock worth $56,601,268 over the last three months. Corporate insiders own 0.72% of the company’s stock.

General Motors Stock Performance

Shares of GM stock opened at $58.52 on Friday. General Motors has a 12-month low of $27.93 and a 12-month high of $59.39. 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 firm has a market capitalization of $64.35 billion, a price-to-earnings ratio of 6.24, a price-to-earnings-growth ratio of 0.42 and a beta of 1.40. The business has a 50 day simple moving average of $50.74 and a 200 day simple moving average of $47.68.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.47. The company had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.28 earnings per share. On average, equities research analysts anticipate that General Motors will post 10.35 EPS for the current year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date is Friday, December 6th. General Motors’s dividend payout ratio is currently 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.