Rockefeller Capital Management L.P. Sells 345,986 Shares of General Motors (NYSE:GM)

Rockefeller Capital Management L.P. cut its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 75.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 113,196 shares of the auto manufacturer’s stock after selling 345,986 shares during the period. Rockefeller Capital Management L.P.’s holdings in General Motors were worth $5,076,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL bought a new position in shares of General Motors during the second quarter valued at about $25,000. Catalyst Capital Advisors LLC bought a new position in shares of General Motors during the third quarter valued at about $27,000. Truvestments Capital LLC bought a new position in shares of General Motors during the third quarter valued at about $27,000. Wellington Shields Capital Management LLC bought a new position in shares of General Motors during the second quarter valued at about $28,000. Finally, EdgeRock Capital LLC bought a new position in shares of General Motors during the second quarter valued at about $33,000. 92.67% of the stock is owned by institutional investors.

General Motors Trading Down 0.6 %

NYSE:GM opened at $53.36 on Thursday. The company’s 50 day moving average price is $51.97 and its 200-day moving average price is $48.26. General Motors has a 52 week low of $32.66 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. The stock has a market cap of $58.67 billion, a price-to-earnings ratio of 5.69, a PEG ratio of 0.42 and a beta of 1.42.

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

General Motors Dividend Announcement

The business 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. The ex-dividend date is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.90%. General Motors’s dividend payout ratio (DPR) is 5.12%.

Insider Activity at General Motors

In other news, President Mark L. Reuss sold 122,283 shares of General Motors stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the transaction, the president now owns 126,907 shares in the company, valued at $7,000,190.12. This trade represents a 49.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction on 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 transaction, the chief executive officer now owns 694,548 shares in the company, valued at approximately $37,040,244.84. This trade represents a 42.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,030,475 shares of company stock worth $56,509,286 over the last quarter. Company insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on GM shares. DZ Bank downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price objective for the company. in a research note on Friday, October 11th. Barclays boosted their price target on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Morgan Stanley cut shares of General Motors from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $47.00 to $42.00 in a research report on Wednesday, September 25th. Wedbush boosted their price target 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. Finally, Wolfe Research began coverage on shares of General Motors in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $57.74.

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.