Meeder Advisory Services Inc. Sells 2,299 Shares of General Motors (NYSE:GM)

Meeder Advisory Services Inc. reduced its position in General Motors (NYSE:GM) (TSE:GMM.U) by 8.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,318 shares of the auto manufacturer’s stock after selling 2,299 shares during the period. Meeder Advisory Services Inc.’s holdings in General Motors were worth $1,180,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL purchased a new stake in General Motors in the second quarter valued at about $25,000. Catalyst Capital Advisors LLC acquired a new position in shares of General Motors during the third quarter valued at about $27,000. Wellington Shields Capital Management LLC purchased a new position in shares of General Motors in the 2nd quarter valued at approximately $28,000. Fortitude Family Office LLC boosted its stake in General Motors by 56.1% in the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after purchasing an additional 225 shares in the last quarter. Finally, EdgeRock Capital LLC purchased a new stake in General Motors during the 2nd quarter worth approximately $33,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on GM shares. DZ Bank cut shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target for the company. in a report on Friday, October 11th. Nomura downgraded General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target on the stock. in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $53.00 price objective on shares of General Motors in a report on Tuesday, September 10th. StockNews.com downgraded General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, Wedbush boosted their target price on shares of General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Four investment 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, General Motors has an average rating of “Hold” and an average price target of $56.92.

Insider Transactions at General Motors

In other news, President Mark L. Reuss sold 122,283 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Rory Harvey sold 12,795 shares of the 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 in the company, valued at $417,307.26. This represents a 60.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 653,511 shares of company stock worth $35,012,844 in the last quarter. Company insiders own 0.72% of the company’s stock.

General Motors Stock Down 1.4 %

GM opened at $56.26 on Tuesday. 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 has a twelve month low of $27.70 and a twelve month high of $59.39. The company has a market cap of $61.86 billion, a PE ratio of 6.00, a price-to-earnings-growth ratio of 0.43 and a beta of 1.40. The company has a 50-day moving average price of $49.90 and a 200 day moving average price of $47.40.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.47. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The business 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 earnings per share. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. Sell-side analysts expect that General Motors will post 10.35 earnings per share for the current fiscal year.

General Motors Announces Dividend

The business also recently announced 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. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio (DPR) is presently 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.