Chevy Chase Trust Holdings LLC Has $27.09 Million Stake in General Motors (NYSE:GM)

Chevy Chase Trust Holdings LLC cut its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 3.3% during the third quarter, Holdings Channel reports. The fund owned 604,120 shares of the auto manufacturer’s stock after selling 20,434 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in General Motors were worth $27,089,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in GM. Chicago Partners Investment Group LLC increased its holdings in shares of General Motors by 15.9% in the third quarter. Chicago Partners Investment Group LLC now owns 11,382 shares of the auto manufacturer’s stock valued at $510,000 after purchasing an additional 1,559 shares during the last quarter. Donald Smith & CO. Inc. grew its stake in General Motors by 12.1% in the 3rd quarter. Donald Smith & CO. Inc. now owns 1,629,573 shares of the auto manufacturer’s stock valued at $73,070,000 after buying an additional 175,860 shares during the last quarter. Foster & Motley Inc. raised its holdings in General Motors by 121.5% in the 3rd quarter. Foster & Motley Inc. now owns 47,169 shares of the auto manufacturer’s stock valued at $2,115,000 after acquiring an additional 25,869 shares during the period. Stoneridge Investment Partners LLC lifted its position in General Motors by 115.1% during the third quarter. Stoneridge Investment Partners LLC now owns 178,443 shares of the auto manufacturer’s stock worth $8,001,000 after acquiring an additional 95,484 shares during the last quarter. Finally, Olstein Capital Management L.P. boosted its holdings in shares of General Motors by 14.9% during the third quarter. Olstein Capital Management L.P. now owns 162,000 shares of the auto manufacturer’s stock worth $7,264,000 after acquiring an additional 21,000 shares during the period. Institutional investors own 92.67% of the company’s stock.

Insider Buying and Selling at General Motors

In related news, CEO Mary T. Barra sold 506,824 shares of the 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 completion of the sale, the chief executive officer now directly owns 694,548 shares in the company, valued at $37,040,244.84. This represents a 42.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Rory Harvey sold 8,919 shares of General Motors stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $60.01, for a total value of $535,229.19. Following the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at $510,865.13. The trade was a 51.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,030,475 shares of company stock worth $56,509,286. 0.72% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

GM has been the topic of a number of recent research reports. Sanford C. Bernstein increased their target price on General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday, October 25th. DZ Bank downgraded General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price for the company. in a report on Friday, October 11th. JPMorgan Chase & Co. boosted their target price on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group raised their price target on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. 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 assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $56.92.

General Motors Stock Down 1.0 %

GM stock opened at $55.04 on Tuesday. The firm has a 50-day moving average price of $51.56 and a 200-day moving average price of $48.10. General Motors has a 12 month low of $32.60 and a 12 month high of $61.24. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $60.52 billion, a P/E ratio of 5.87, a price-to-earnings-growth ratio of 0.42 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, beating the consensus estimate of $2.49 by $0.47. The business had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The firm’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.28 EPS. As a group, equities research analysts anticipate that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be issued a $0.12 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.87%. General Motors’s payout ratio is presently 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.