Ledyard National Bank Has $457,000 Holdings in General Motors (NYSE:GM)

Ledyard National Bank decreased its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 4.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,854 shares of the auto manufacturer’s stock after selling 611 shares during the quarter. Ledyard National Bank’s holdings in General Motors were worth $457,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in GM. Nwam LLC grew its stake in General Motors by 155.4% in the second quarter. Nwam LLC now owns 20,853 shares of the auto manufacturer’s stock valued at $804,000 after purchasing an additional 12,689 shares in the last quarter. Checchi Capital Advisers LLC boosted its holdings in shares of General Motors by 5.0% in the 2nd quarter. Checchi Capital Advisers LLC now owns 11,284 shares of the auto manufacturer’s stock valued at $435,000 after buying an additional 536 shares during the last quarter. Cetera Advisors LLC grew its stake in shares of General Motors by 6.8% in the second quarter. Cetera Advisors LLC now owns 34,354 shares of the auto manufacturer’s stock valued at $1,325,000 after buying an additional 2,177 shares in the last quarter. Cetera Advisor Networks LLC increased its holdings in General Motors by 7.9% during the second quarter. Cetera Advisor Networks LLC now owns 95,391 shares of the auto manufacturer’s stock worth $3,678,000 after buying an additional 6,957 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in General Motors by 1.2% during the second quarter. Charles Schwab Investment Management Inc. now owns 9,571,037 shares of the auto manufacturer’s stock worth $369,059,000 after acquiring an additional 109,504 shares in the last quarter. Institutional investors own 79.62% of the company’s stock.

General Motors Stock Performance

NYSE GM traded down $0.15 during trading on Thursday, reaching $27.99. The company’s stock had a trading volume of 2,642,190 shares, compared to its average volume of 14,510,960. General Motors has a 12 month low of $26.30 and a 12 month high of $43.63. The firm has a 50 day moving average price of $30.55 and a 200 day moving average price of $33.83. The firm has a market capitalization of $38.33 billion, a price-to-earnings ratio of 3.96, a price-to-earnings-growth ratio of 0.38 and a beta of 1.48. The company has a current ratio of 1.14, a quick ratio of 0.96 and a debt-to-equity ratio of 1.02.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, October 24th. The auto manufacturer reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.41. General Motors had a return on equity of 16.01% and a net margin of 5.83%. The business had revenue of $44.13 billion during the quarter, compared to analysts’ expectations of $42.48 billion. During the same period in the previous year, the company posted $2.25 earnings per share. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, equities analysts anticipate that General Motors will post 7.1 EPS for the current fiscal year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Friday, December 1st will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend is Thursday, November 30th. General Motors’s payout ratio is currently 5.06%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Citigroup lowered their price objective on shares of General Motors from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, October 11th. Morgan Stanley dropped their price objective on General Motors from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Friday, October 27th. TheStreet downgraded General Motors from a “b-” rating to a “c+” rating in a research note on Tuesday, October 3rd. Bank of America increased their price target on General Motors from $72.00 to $75.00 in a research note on Wednesday, July 26th. Finally, Barclays raised shares of General Motors from an “equal weight” rating to an “overweight” rating and set a $37.00 price objective for the company in a research report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, General Motors currently has a consensus rating of “Moderate Buy” and an average price target of $50.67.

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.