General Motors (GM) Shares Sold by Dorsey & Whitney Trust CO LLC
Dorsey & Whitney Trust CO LLC reduced its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 34.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,444 shares of the auto manufacturer’s stock after selling 2,813 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in General Motors were worth $220,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp increased its stake in General Motors by 2.9% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,112,101 shares of the auto manufacturer’s stock worth $125,667,000 after buying an additional 86,446 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. increased its stake in General Motors by 3.9% in the 3rd quarter. Sumitomo Mitsui Financial Group Inc. now owns 38,192 shares of the auto manufacturer’s stock worth $1,542,000 after buying an additional 1,431 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in General Motors in the 3rd quarter worth $1,393,000. Ropes Wealth Advisors LLC increased its stake in General Motors by 52.2% in the 3rd quarter. Ropes Wealth Advisors LLC now owns 7,000 shares of the auto manufacturer’s stock worth $283,000 after buying an additional 2,400 shares in the last quarter. Finally, Twin Capital Management Inc. increased its stake in General Motors by 12.4% in the 3rd quarter. Twin Capital Management Inc. now owns 232,490 shares of the auto manufacturer’s stock worth $9,388,000 after buying an additional 25,610 shares in the last quarter. 73.04% of the stock is currently owned by hedge funds and other institutional investors.
GM has been the subject of a number of research analyst reports. Piper Jaffray Companies restated a “buy” rating and set a $44.00 price objective on shares of General Motors in a research report on Tuesday, September 12th. Goldman Sachs Group lowered General Motors from a “neutral” rating to a “sell” rating and cut their price objective for the company from $43.16 to $32.00 in a research report on Monday, October 30th. Royal Bank Of Canada increased their price target on shares of General Motors from $44.00 to $51.00 and gave the company a “sector perform” rating in a report on Wednesday, October 25th. Barclays raised shares of General Motors from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $41.00 to $55.00 in a report on Friday, October 13th. Finally, Vetr raised shares of General Motors from a “hold” rating to a “buy” rating and set a $43.99 price target for the company in a report on Monday, November 6th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $43.61.
In other news, CAO Thomas S. Timko sold 44,791 shares of General Motors stock in a transaction on Friday, October 27th. The shares were sold at an average price of $44.46, for a total transaction of $1,991,407.86. Following the completion of the sale, the chief accounting officer now directly owns 66,838 shares in the company, valued at $2,971,617.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, President Daniel Ammann sold 50,000 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $38.00, for a total transaction of $1,900,000.00. Following the transaction, the president now owns 185,953 shares of the company’s stock, valued at $7,066,214. The disclosure for this sale can be found here. Over the last three months, insiders have sold 971,122 shares of company stock worth $40,627,952. 0.04% of the stock is currently owned by corporate insiders.
Shares of General Motors (GM) traded up $0.15 during mid-day trading on Thursday, reaching $43.96. 2,800,143 shares of the company traded hands, compared to its average volume of 13,373,706. The stock has a market capitalization of $63,804.73, a price-to-earnings ratio of 7.26, a price-to-earnings-growth ratio of 0.78 and a beta of 1.56. The company has a current ratio of 0.94, a quick ratio of 0.79 and a debt-to-equity ratio of 1.54. General Motors has a 12 month low of $31.92 and a 12 month high of $46.76.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, October 24th. The auto manufacturer reported $1.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.25. The company had revenue of $30.48 billion for the quarter, compared to analyst estimates of $29.93 billion. General Motors had a net margin of 2.00% and a return on equity of 20.95%. General Motors’s revenue was down 16.6% compared to the same quarter last year. During the same period last year, the company posted $1.72 earnings per share. analysts anticipate that General Motors will post 6.24 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Friday, December 8th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend is Thursday, December 7th. General Motors’s payout ratio is 77.95%.
About General Motors
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
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