General Motors (NYSE:GM) Shares Sold by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC trimmed its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 8.9% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 11,289 shares of the auto manufacturer’s stock after selling 1,105 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in General Motors were worth $506,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in GM. Strategic Investment Solutions Inc. IL acquired a new stake in shares of General Motors during the second quarter worth $25,000. Catalyst Capital Advisors LLC purchased a new position in General Motors during the third quarter worth about $27,000. Wellington Shields Capital Management LLC purchased a new stake in General Motors in the 2nd quarter valued at approximately $28,000. Fortitude Family Office LLC boosted its holdings in 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 in the last quarter. Finally, EdgeRock Capital LLC acquired a new position in General Motors during the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Trading Down 1.0 %

GM traded down $0.58 during trading on Friday, hitting $57.04. 12,624,965 shares of the company’s stock were exchanged, compared to its average volume of 14,909,852. General Motors has a 1 year low of $27.42 and a 1 year high of $59.39. The firm has a market cap of $62.72 billion, a P/E ratio of 6.08, a price-to-earnings-growth ratio of 0.44 and a beta of 1.40. 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 50 day moving average price of $49.72 and a 200 day moving average price of $47.28.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results 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. The company had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The company’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.28 earnings per share. As a group, analysts expect that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio (DPR) is currently 5.12%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on GM shares. JPMorgan Chase & Co. upped their price objective on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Barclays raised their price objective on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company lifted their price target on shares of General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a research report on Wednesday, October 23rd. Wolfe Research started coverage on General Motors in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Finally, The Goldman Sachs Group upped their target price on General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Four analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, General Motors presently has an average rating of “Hold” and an average price target of $56.92.

Insider Buying and Selling

In other General Motors news, President Mark L. Reuss sold 122,283 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the sale, the president now owns 126,907 shares in the company, valued at $7,000,190.12. This represents a 49.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total value of $108,907.62. Following the completion of the sale, the executive vice president now owns 10,356 shares of the company’s stock, valued at $489,942.36. This trade represents a 18.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 653,511 shares of company stock worth $35,012,844. Insiders own 0.72% of the company’s stock.

General Motors Company 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.