General Motors (NYSE:GM) Holdings Raised by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. grew its position in General Motors (NYSE:GM) (TSE:GMM.U) by 10.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,753 shares of the auto manufacturer’s stock after acquiring an additional 3,980 shares during the quarter. Pinnacle Associates Ltd.’s holdings in General Motors were worth $1,872,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in GM. Norden Group LLC bought a new position in General Motors during the 1st quarter worth $493,000. J.W. Cole Advisors Inc. grew its stake in shares of General Motors by 12.3% in the first quarter. J.W. Cole Advisors Inc. now owns 12,948 shares of the auto manufacturer’s stock worth $587,000 after purchasing an additional 1,418 shares in the last quarter. Mission Wealth Management LP bought a new position in shares of General Motors in the first quarter worth $262,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of General Motors by 4.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,199 shares of the auto manufacturer’s stock worth $31,391,000 after purchasing an additional 27,078 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in shares of General Motors by 7.1% in the first quarter. Janney Montgomery Scott LLC now owns 410,901 shares of the auto manufacturer’s stock worth $18,634,000 after purchasing an additional 27,178 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Wolfe Research assumed coverage on General Motors in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. The Goldman Sachs Group increased their price target on General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $53.00 price objective on shares of General Motors in a report on Tuesday, September 10th. JPMorgan Chase & Co. upped their price objective on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Barclays upped their price objective on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, General Motors currently has a consensus rating of “Hold” and a consensus target price of $56.92.

General Motors Stock Performance

Shares of NYSE GM opened at $50.96 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. The business’s 50 day moving average is $48.31 and its two-hundred day moving average is $46.46. The company has a market cap of $56.04 billion, a P/E ratio of 5.43, a P/E/G ratio of 0.39 and a beta of 1.42. General Motors has a 12 month low of $26.30 and a 12 month high of $54.29.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $44.67 billion. During the same quarter last year, the firm earned $2.28 EPS. General Motors’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, equities analysts expect that General Motors will post 10.34 EPS for the current year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.94%. The ex-dividend date is Friday, December 6th. General Motors’s dividend payout ratio is 5.12%.

Insider Activity at General Motors

In related news, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the sale, the chief executive officer now owns 694,548 shares of the company’s stock, valued at $37,040,244.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the sale, the executive vice president now owns 10,356 shares in the company, valued at $489,942.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the sale, the chief executive officer now owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 531,228 shares of company stock valued at $28,267,714 in the last 90 days. 0.72% of the stock is owned by corporate insiders.

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.