Kaydan Wealth Management Inc. Sells 1,146 Shares of General Motors (NYSE:GM)

Kaydan Wealth Management Inc. cut its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 4.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,549 shares of the auto manufacturer’s stock after selling 1,146 shares during the quarter. Kaydan Wealth Management Inc.’s holdings in General Motors were worth $1,056,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Strategic Investment Solutions Inc. IL bought a new stake in shares of General Motors in the 2nd quarter valued at about $25,000. Wellington Shields Capital Management LLC acquired a new stake in General Motors in the second quarter worth $28,000. Fortitude Family Office LLC boosted its position in shares of General Motors by 56.1% during the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after purchasing an additional 225 shares in the last quarter. Montag A & Associates Inc. acquired a new position in shares of General Motors in the 1st quarter valued at $30,000. Finally, EdgeRock Capital LLC bought a new stake in shares of General Motors in the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Stock Performance

Shares of GM opened at $49.00 on Thursday. The company has a market cap of $55.90 billion, a PE ratio of 5.99, a price-to-earnings-growth ratio of 0.56 and a beta of 1.42. The firm has a 50-day moving average of $46.76 and a 200-day moving average of $45.87. General Motors has a one year low of $26.30 and a one year high of $50.50. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.67 by $0.39. The business had revenue of $47.97 billion during the quarter, compared to analysts’ expectations of $45.13 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. General Motors’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the company posted $1.91 earnings per share. As a group, equities analysts forecast that General Motors will post 9.95 earnings per share for the current year.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, September 6th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend was Friday, September 6th. General Motors’s dividend payout ratio is 5.87%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. DZ Bank lowered General Motors from a “buy” rating to a “hold” rating and set a $49.00 price objective for the company. in a research report on Friday, October 11th. Nomura Securities upgraded shares of General Motors to a “strong sell” rating in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $53.00 price target on shares of General Motors in a report on Tuesday, September 10th. Finally, Nomura cut shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective on the stock. in a research report on Monday, August 5th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $55.35.

Insiders Place Their Bets

In related news, EVP Rory Harvey sold 12,795 shares of General Motors stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $49.02, for a total transaction of $627,210.90. Following the completion of the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $417,307.26. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Paul A. Jacobson acquired 25,000 shares of the stock in a transaction on Friday, July 26th. The shares were purchased at an average price of $44.11 per share, for a total transaction of $1,102,750.00. Following the transaction, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Rory Harvey sold 12,795 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $49.02, for a total transaction of $627,210.90. Following the completion of the sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at approximately $417,307.26. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

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.