General Motors (NYSE:GM) Shares Sold by Hollencrest Capital Management

Hollencrest Capital Management reduced its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 5.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,200 shares of the auto manufacturer’s stock after selling 351 shares during the period. Hollencrest Capital Management’s holdings in General Motors were worth $278,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC grew its stake in shares of General Motors by 15.9% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 11,382 shares of the auto manufacturer’s stock worth $510,000 after purchasing an additional 1,559 shares during the period. Donald Smith & CO. Inc. grew its position in General Motors by 12.1% during the third quarter. Donald Smith & CO. Inc. now owns 1,629,573 shares of the auto manufacturer’s stock worth $73,070,000 after buying an additional 175,860 shares during the period. Foster & Motley Inc. increased its holdings in General Motors by 121.5% in the third quarter. Foster & Motley Inc. now owns 47,169 shares of the auto manufacturer’s stock valued at $2,115,000 after buying an additional 25,869 shares in the last quarter. Stoneridge Investment Partners LLC lifted its position in shares of General Motors by 115.1% during the 3rd quarter. Stoneridge Investment Partners LLC now owns 178,443 shares of the auto manufacturer’s stock valued at $8,001,000 after acquiring an additional 95,484 shares during the period. Finally, Olstein Capital Management L.P. boosted its stake in shares of General Motors by 14.9% during the 3rd quarter. Olstein Capital Management L.P. now owns 162,000 shares of the auto manufacturer’s stock worth $7,264,000 after acquiring an additional 21,000 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analysts Set New Price Targets

GM has been the topic of several research reports. DZ Bank lowered General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price on the stock. in a report on Friday, October 11th. Sanford C. Bernstein upped their target price on General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. Wells Fargo & Company raised their price target on General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 23rd. Wedbush boosted their price target on General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, StockNews.com lowered General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, General Motors currently has an average rating of “Hold” and a consensus target price of $56.92.

General Motors Trading Up 0.4 %

Shares of GM stock opened at $55.59 on Friday. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $56.08. The firm’s 50 day moving average price is $48.81 and its two-hundred day moving average price is $46.87. The stock has a market cap of $61.13 billion, a price-to-earnings ratio of 5.93, a price-to-earnings-growth ratio of 0.39 and a beta of 1.40. 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 (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The firm had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. During the same period in the prior year, the company earned $2.28 EPS. The firm’s revenue was up 10.5% on a year-over-year basis. On average, analysts anticipate that General Motors will post 10.34 EPS for the current year.

General Motors Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 0.86%. The ex-dividend date is Friday, December 6th. General Motors’s dividend payout ratio (DPR) is presently 5.12%.

Insiders Place Their Bets

In other news, President Mark L. Reuss sold 122,283 shares of the business’s 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 directly owns 126,907 shares of the company’s stock, valued at approximately $7,000,190.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other General Motors news, EVP Rory Harvey sold 2,302 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the sale, the executive vice president now owns 10,356 shares in the company, valued at $489,942.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Mark L. Reuss sold 122,283 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total value of $6,745,130.28. Following the completion of the transaction, the president now directly owns 126,907 shares in the company, valued at approximately $7,000,190.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 653,511 shares of company stock worth $35,012,844 in the last 90 days. 0.72% of the stock is owned by company insiders.

General Motors Company 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.