Verdence Capital Advisors LLC Raises Position in General Motors (NYSE:GM)

Verdence Capital Advisors LLC boosted its position in General Motors (NYSE:GM) (TSE:GMM.U) by 38.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 19,497 shares of the auto manufacturer’s stock after purchasing an additional 5,375 shares during the period. Verdence Capital Advisors LLC’s holdings in General Motors were worth $874,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Strategic Investment Solutions Inc. IL purchased a new position in shares of General Motors in the second quarter worth about $25,000. Catalyst Capital Advisors LLC bought a new position in General Motors in the 3rd quarter worth approximately $27,000. Wellington Shields Capital Management LLC purchased a new position in General Motors in the 2nd quarter valued at approximately $28,000. Fortitude Family Office LLC raised its holdings in General Motors by 56.1% during the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after acquiring an additional 225 shares during the period. Finally, Montag A & Associates Inc. bought a new position in shares of General Motors in the first quarter worth $30,000. 92.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on GM shares. Morgan Stanley lowered General Motors from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $47.00 to $42.00 in a research note on Wednesday, September 25th. The Goldman Sachs Group increased their price target on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Wedbush boosted their price objective on shares of General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein increased their target price on shares of General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday, October 25th. Finally, Nomura Securities raised shares of General Motors to a “strong sell” rating in a report on Monday, August 5th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $56.92.

Insiders Place Their Bets

In other General Motors news, President Mark L. Reuss sold 122,283 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the president now owns 126,907 shares of the company’s stock, valued at $7,000,190.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, President Mark L. Reuss sold 122,283 shares of the firm’s stock in a transaction dated 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 sale, the president now directly owns 126,907 shares of the company’s stock, valued at approximately $7,000,190.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Rory Harvey sold 9,307 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total transaction of $502,671.07. Following the transaction, the executive vice president now owns 8,513 shares in the company, valued at $459,787.13. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 653,511 shares of company stock valued at $35,012,844 in the last quarter. Insiders own 0.72% of the company’s stock.

General Motors Price Performance

GM stock opened at $55.58 on Monday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. The firm has a market cap of $61.12 billion, a P/E ratio of 5.93, a P/E/G ratio of 0.42 and a beta of 1.40. The firm’s fifty day moving average is $48.81 and its 200 day moving average is $46.88. General Motors has a 52 week low of $26.30 and a 52 week high of $56.08.

General Motors (NYSE:GM) (TSE:GMM.U) last issued 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 company 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 business posted $2.28 EPS. General Motors’s quarterly revenue was up 10.5% compared to the same quarter last year. Research analysts predict that General Motors will post 10.34 earnings per share for the current year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders 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 annualized dividend and a yield of 0.86%. General Motors’s payout ratio is currently 5.12%.

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.