Douglas Lane & Associates LLC Sells 178,875 Shares of General Motors (NYSE:GM)

Douglas Lane & Associates LLC lowered its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 18.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 796,584 shares of the auto manufacturer’s stock after selling 178,875 shares during the period. Douglas Lane & Associates LLC’s holdings in General Motors were worth $42,434,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL purchased a new position in shares of General Motors in the second quarter valued at $25,000. Catalyst Capital Advisors LLC purchased a new position in shares of General Motors in the 3rd quarter valued at approximately $27,000. Truvestments Capital LLC purchased a new stake in shares of General Motors in the 3rd quarter worth approximately $27,000. Eastern Bank purchased a new position in General Motors in the 3rd quarter worth approximately $34,000. Finally, Fairscale Capital LLC purchased a new stake in General Motors in the second quarter worth approximately $36,000. Institutional investors own 92.67% of the company’s stock.

Insider Activity at General Motors

In other news, EVP Rory Harvey sold 8,919 shares of the firm’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 transaction, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $510,865.13. This trade represents a 51.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Craig B. Glidden sold 383,142 shares of the business’s stock in a transaction 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 transaction, 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 disclosure for this sale can be found here. In the last three months, insiders have sold 1,030,475 shares of company stock valued at $56,509,286. Insiders own 0.72% of the company’s stock.

General Motors Stock Down 2.1 %

Shares of NYSE:GM traded down $1.08 during trading hours on Wednesday, reaching $50.90. The stock had a trading volume of 4,061,702 shares, compared to its average volume of 8,371,647. The stock has a market capitalization of $55.97 billion, a price-to-earnings ratio of 5.43, a P/E/G ratio of 0.40 and a beta of 1.42. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. The firm’s 50 day moving average is $53.96 and its 200-day moving average is $49.42. General Motors has a 1 year low of $34.32 and a 1 year high of $61.24.

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

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, December 6th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.48 annualized dividend and a yield of 0.94%. General Motors’s payout ratio is currently 5.12%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on GM shares. UBS Group increased their price target on General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company decreased their price objective on General Motors from $38.00 to $35.00 and set an “underweight” rating for the company in a report on Monday, December 16th. JPMorgan Chase & Co. upped their target price on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Hsbc Global Res cut General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Finally, Barclays upped their target price on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Three analysts have rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $59.58.

About General Motors

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.