General Motors (NYSE:GM) Holdings Trimmed by First Dallas Securities Inc.

First Dallas Securities Inc. lowered its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 7.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 9,719 shares of the auto manufacturer’s stock after selling 745 shares during the period. First Dallas Securities Inc.’s holdings in General Motors were worth $436,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of General Motors by 972.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer’s stock worth $94,300,000 after purchasing an additional 1,906,964 shares during the period. Jennison Associates LLC grew its stake 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 worth $144,655,000 after buying an additional 1,779,897 shares during the last quarter. Artemis Investment Management LLP grew its stake in General Motors by 581.4% during the third quarter. Artemis Investment Management LLP now owns 1,601,856 shares of the auto manufacturer’s stock worth $71,827,000 after buying an additional 1,366,768 shares during the last quarter. National Bank of Canada FI grew its stake in General Motors by 158.8% during the third quarter. National Bank of Canada FI now owns 2,171,587 shares of the auto manufacturer’s stock worth $97,374,000 after buying an additional 1,332,450 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of General Motors by 9.2% during the second quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock worth $600,291,000 after purchasing an additional 1,091,137 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Stock Down 1.3 %

Shares of NYSE GM opened at $52.74 on Tuesday. The company has a market cap of $57.99 billion, a price-to-earnings ratio of 5.62, a PEG ratio of 0.40 and a beta of 1.42. The firm’s fifty day moving average is $52.41 and its 200 day moving average is $48.47. General Motors has a 52 week low of $32.83 and a 52 week high of $61.24. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24.

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

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be paid a $0.12 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.48 annualized dividend and a yield of 0.91%. General Motors’s payout ratio is 5.12%.

Wall Street Analysts Forecast Growth

GM has been the topic of several analyst reports. Sanford C. Bernstein increased their price objective on shares of General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Friday, October 25th. Wells Fargo & Company upped their target price on shares of General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a research note on Wednesday, October 23rd. 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. Wedbush upped their target price on shares of General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Morgan Stanley raised shares of General Motors from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $46.00 to $54.00 in a research note on Tuesday. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $58.89.

Insiders Place Their Bets

In other news, CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the sale, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at $37,040,244.84. The trade was a 42.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Rory Harvey sold 8,919 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $60.01, for a total value of $535,229.19. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at approximately $510,865.13. This trade represents a 51.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,030,475 shares of company stock worth $56,509,286 in the last three months. 0.72% of the stock is owned by company insiders.

General Motors Company 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.