General Motors (NYSE:GM) Shares Sold by Argyle Capital Management Inc.

Argyle Capital Management Inc. cut its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 7.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 52,517 shares of the auto manufacturer’s stock after selling 3,950 shares during the quarter. Argyle Capital Management Inc.’s holdings in General Motors were worth $2,355,000 at the end of the most recent quarter.

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

General Motors Stock Down 2.1 %

GM stock traded down $1.09 during midday trading on Tuesday, hitting $51.64. 3,855,673 shares of the company’s stock were exchanged, compared to its average volume of 15,063,617. The firm has a 50 day moving average price of $47.95 and a 200-day moving average price of $46.28. General Motors has a 12-month low of $26.30 and a 12-month high of $54.29. The stock has a market capitalization of $58.04 billion, a price-to-earnings ratio of 5.62, a price-to-earnings-growth ratio of 0.60 and a beta of 1.42. The company has a current ratio of 1.21, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The business had revenue of $48.76 billion during the quarter, compared to analyst estimates of $44.67 billion. During the same quarter in the previous year, the firm earned $2.28 earnings per share. The business’s revenue was up 10.5% compared to the same quarter last year. On average, analysts anticipate that General Motors will post 10.05 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. Stockholders of record on Friday, December 6th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, December 6th. This represents a $0.48 annualized dividend and a dividend yield of 0.93%. General Motors’s payout ratio is 5.12%.

Insider Buying and Selling

In other General Motors news, EVP Rory Harvey sold 9,307 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $54.01, for a total transaction of $502,671.07. Following the sale, the executive vice president now owns 8,513 shares in the company, valued at $459,787.13. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total value of $27,028,923.92. Following the transaction, the chief executive officer now directly owns 694,548 shares in the company, valued at approximately $37,040,244.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Rory Harvey sold 9,307 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total transaction of $502,671.07. Following the sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at approximately $459,787.13. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 531,228 shares of company stock worth $28,267,714. Corporate insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GM. UBS Group lifted their target price on General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Wells Fargo & Company lifted their price objective on General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group increased their target price 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. Morgan Stanley lowered shares of General Motors from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $47.00 to $42.00 in a report on Wednesday, September 25th. Finally, Nomura downgraded shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective for the company. in a research note on Monday, August 5th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $56.92.

General Motors Profile

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.