Bank of Montreal Can Has $64.31 Million Position in General Motors (NYSE:GM)

Bank of Montreal Can reduced its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 14.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,383,689 shares of the auto manufacturer’s stock after selling 236,241 shares during the period. Bank of Montreal Can owned about 0.13% of General Motors worth $64,314,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Strategic Investment Solutions Inc. IL bought a new stake in General Motors during the second quarter worth about $25,000. Catalyst Capital Advisors LLC bought a new stake in General Motors during the third quarter worth about $27,000. Truvestments Capital LLC bought a new stake in General Motors during the third quarter worth about $27,000. Wellington Shields Capital Management LLC bought a new stake in General Motors during the second quarter worth about $28,000. Finally, Fortitude Family Office LLC raised its holdings in General Motors by 56.1% during the second 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. Institutional investors own 92.67% of the company’s stock.

General Motors Price Performance

General Motors stock opened at $55.50 on Thursday. General Motors has a 52 week low of $28.33 and a 52 week high of $61.24. The company’s 50 day moving average price is $51.29 and its two-hundred day moving average price is $47.94. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. The stock has a market cap of $61.03 billion, a P/E ratio of 5.92, a P/E/G ratio of 0.45 and a beta of 1.40.

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 the consensus estimate of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The firm had revenue of $48.76 billion for the quarter, compared to analysts’ expectations of $44.67 billion. During the same quarter last year, the firm earned $2.28 EPS. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, equities analysts predict that General Motors will post 10.35 earnings per share for the current year.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.86%. General Motors’s dividend payout ratio (DPR) is presently 5.12%.

Insider Buying and Selling

In related news, EVP Rory Harvey sold 9,307 shares of General Motors stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total value of $502,671.07. Following the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $459,787.13. The trade was a 52.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Craig B. Glidden sold 383,142 shares of General Motors stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the completion of the sale, the executive vice president now directly owns 122,465 shares in the company, valued at $6,935,192.95. This trade represents a 75.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,030,475 shares of company stock valued at $56,509,286. 0.72% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on GM shares. Morgan Stanley lowered General Motors from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $47.00 to $42.00 in a research note on Wednesday, September 25th. Nomura Securities upgraded General Motors to a “strong sell” rating in a research note on Monday, August 5th. Nomura lowered General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective on the stock. in a research note on Monday, August 5th. Royal Bank of Canada upped their price objective on General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, UBS Group upped their price objective on General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price 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.