Amalgamated Bank Sells 9,657 Shares of General Motors (NYSE:GM)

Amalgamated Bank lessened its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 4.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 221,095 shares of the auto manufacturer’s stock after selling 9,657 shares during the quarter. Amalgamated Bank’s holdings in General Motors were worth $9,914,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in GM. SJS Investment Consulting Inc. boosted its stake in General Motors by 34.5% during the second quarter. SJS Investment Consulting Inc. now owns 792 shares of the auto manufacturer’s stock valued at $37,000 after buying an additional 203 shares during the last quarter. Allworth Financial LP boosted its position in shares of General Motors by 2.3% during the third quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer’s stock valued at $412,000 after buying an additional 205 shares during the period. Fortitude Family Office LLC grew its stake in shares of General Motors by 56.1% during the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after buying an additional 225 shares during the last quarter. SeaCrest Wealth Management LLC raised its holdings in shares of General Motors by 3.5% in the second quarter. SeaCrest Wealth Management LLC now owns 6,804 shares of the auto manufacturer’s stock worth $316,000 after buying an additional 227 shares during the period. Finally, Institute for Wealth Management LLC. boosted its holdings in General Motors by 0.6% during the 2nd quarter. Institute for Wealth Management LLC. now owns 36,624 shares of the auto manufacturer’s stock valued at $1,702,000 after acquiring an additional 230 shares during the period. 92.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at General Motors

In related news, CEO Mary T. Barra sold 506,824 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the transaction, the chief executive officer now owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, 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 sale, the chief executive officer now owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Rory Harvey sold 12,795 shares of General Motors stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $49.02, for a total transaction of $627,210.90. Following the completion of the transaction, the executive vice president now owns 8,513 shares of the company’s stock, valued at $417,307.26. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 531,228 shares of company stock worth $28,267,714 over the last three months. Insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

GM has been the topic of a number of research analyst reports. UBS Group upped their price target on shares of General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price objective on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Wedbush increased their price objective on General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Wells Fargo & Company lifted their price objective on General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a research note on Wednesday, October 23rd. Finally, Morgan Stanley downgraded General Motors from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $47.00 to $42.00 in a research note on Wednesday, September 25th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, General Motors currently has a consensus rating of “Hold” and an average price target of $56.92.

General Motors Stock Performance

GM opened at $53.71 on Wednesday. The firm has a market capitalization of $59.06 billion, a PE ratio of 5.73, a PEG ratio of 0.39 and a beta of 1.40. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24. General Motors has a twelve month low of $26.30 and a twelve month high of $54.29. The firm’s 50-day moving average price is $48.46 and its 200 day moving average price is $46.66.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, beating 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 firm’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.28 EPS. As a group, sell-side analysts expect that General Motors will post 10.34 EPS for the current fiscal year.

General Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s payout ratio is 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.