First Trust Advisors LP cut its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 21.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 476,005 shares of the auto manufacturer’s stock after selling 130,423 shares during the period. First Trust Advisors LP’s holdings in General Motors were worth $16,027,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Botty Investors LLC lifted its stake in General Motors by 19.4% during the third quarter. Botty Investors LLC now owns 27,606 shares of the auto manufacturer’s stock valued at $929,000 after buying an additional 4,480 shares in the last quarter. Retirement Systems of Alabama lifted its stake in General Motors by 0.9% during the third quarter. Retirement Systems of Alabama now owns 1,151,591 shares of the auto manufacturer’s stock valued at $38,774,000 after buying an additional 10,050 shares in the last quarter. First Midwest Bank Trust Division lifted its stake in General Motors by 46.1% during the third quarter. First Midwest Bank Trust Division now owns 14,068 shares of the auto manufacturer’s stock valued at $474,000 after buying an additional 4,440 shares in the last quarter. Chevy Chase Trust Holdings Inc. lifted its stake in General Motors by 1.2% during the third quarter. Chevy Chase Trust Holdings Inc. now owns 1,501,103 shares of the auto manufacturer’s stock valued at $50,543,000 after buying an additional 18,316 shares in the last quarter. Finally, American Assets Investment Management LLC lifted its stake in General Motors by 13.0% during the third quarter. American Assets Investment Management LLC now owns 173,300 shares of the auto manufacturer’s stock valued at $5,835,000 after buying an additional 20,000 shares in the last quarter. 73.90% of the stock is owned by institutional investors.

NYSE GM opened at $35.70 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.89 and a debt-to-equity ratio of 1.75. The company has a market capitalization of $52.05 billion, a PE ratio of 5.46, a P/E/G ratio of 0.70 and a beta of 1.25. General Motors has a 52-week low of $30.56 and a 52-week high of $45.52.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Wednesday, October 31st. The auto manufacturer reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.62. The business had revenue of $35.79 billion during the quarter, compared to analyst estimates of $34.85 billion. General Motors had a net margin of 0.56% and a return on equity of 25.81%. The firm’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.32 earnings per share. Sell-side analysts predict that General Motors will post 6.17 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Friday, December 7th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date is Thursday, December 6th. General Motors’s dividend payout ratio (DPR) is 22.96%.

A number of analysts have commented on GM shares. Zacks Investment Research raised shares of General Motors from a “sell” rating to a “hold” rating in a research note on Tuesday, October 9th. Bank of America reaffirmed a “buy” rating and set a $60.00 price objective on shares of General Motors in a research note on Wednesday, September 12th. Guggenheim reaffirmed a “buy” rating and set a $52.00 price objective on shares of General Motors in a research note on Friday, July 20th. JPMorgan Chase & Co. reduced their price objective on shares of General Motors from $58.00 to $54.00 and set an “overweight” rating for the company in a research note on Friday, July 27th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $39.00 price objective on shares of General Motors in a research note on Friday, July 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $46.38.

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General Motors Profile

General Motors Company, together with its subsidiaries, designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

Further Reading: Institutional Investors

Want to see what other hedge funds are holding GM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Motors (NYSE:GM) (TSE:GMM.U).

Institutional Ownership by Quarter for General Motors (NYSE:GM)

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