Beech Hill Advisors Inc. Trims Position in General Motors (NYSE:GM)

Beech Hill Advisors Inc. trimmed its position in General Motors (NYSE:GM) (TSE:GMM.U) by 3.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,750 shares of the auto manufacturer’s stock after selling 483 shares during the period. Beech Hill Advisors Inc.’s holdings in General Motors were worth $661,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Strategic Investment Solutions Inc. IL bought a new position in shares of General Motors in the 2nd quarter worth approximately $25,000. Wellington Shields Capital Management LLC bought a new position in General Motors in the second quarter worth approximately $28,000. Fortitude Family Office LLC boosted its stake in shares of General Motors by 56.1% during the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after acquiring an additional 225 shares during the last quarter. Montag A & Associates Inc. bought a new stake in shares of General Motors during the 1st quarter valued at $30,000. Finally, EdgeRock Capital LLC bought a new stake in shares of General Motors during the 2nd quarter valued at $33,000. 92.67% of the stock is currently owned by institutional investors.

Insider Transactions at General Motors

In other news, CFO Paul A. Jacobson acquired 25,000 shares of the company’s stock in a transaction on Friday, July 26th. The stock was bought at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the purchase, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at $11,551,173.92. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Paul A. Jacobson purchased 25,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were bought at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the acquisition, the chief financial officer now owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total value of $108,907.62. Following the transaction, the executive vice president now owns 10,356 shares of the company’s stock, valued at $489,942.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

GM has been the topic of several analyst reports. Nomura Securities upgraded General Motors to a “strong sell” rating in a research report on Monday, August 5th. Wedbush reaffirmed an “outperform” rating and issued a $55.00 price objective on shares of General Motors in a research note on Wednesday, October 9th. The Goldman Sachs Group boosted their price objective on General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Barclays increased their target price on shares of General Motors from $60.00 to $64.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Wells Fargo & Company lowered their price target on shares of General Motors from $34.00 to $33.00 and set an “underweight” rating on the stock in a report on Tuesday, September 10th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, General Motors has a consensus rating of “Hold” and an average price target of $55.35.

General Motors Trading Up 2.4 %

Shares of GM opened at $49.00 on Thursday. The stock has a market capitalization of $55.90 billion, a PE ratio of 5.99, a P/E/G ratio of 0.56 and a beta of 1.42. The company’s fifty day moving average is $46.76 and its 200 day moving average is $45.87. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $50.50.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.67 by $0.39. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The firm had revenue of $47.97 billion for the quarter, compared to the consensus estimate of $45.13 billion. During the same period in the previous year, the firm posted $1.91 EPS. The business’s quarterly revenue was up 7.2% on a year-over-year basis. Sell-side analysts expect that General Motors will post 9.95 earnings per share for the current fiscal year.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, September 6th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.98%. The ex-dividend date was Friday, September 6th. General Motors’s payout ratio is 5.87%.

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.