Glenmede Trust Co. NA Purchases 30,377 Shares of General Motors (NYSE:GM)

Glenmede Trust Co. NA grew its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 7.4% in the third quarter, Holdings Channel reports. The fund owned 442,171 shares of the auto manufacturer’s stock after buying an additional 30,377 shares during the quarter. Glenmede Trust Co. NA’s holdings in General Motors were worth $19,827,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL bought a new stake in General Motors during the second quarter valued at about $25,000. Catalyst Capital Advisors LLC acquired a new position in General Motors in the 3rd quarter valued at $27,000. Truvestments Capital LLC acquired a new position in General Motors in the 3rd quarter valued at $27,000. Wellington Shields Capital Management LLC acquired a new position in General Motors in the 2nd quarter valued at $28,000. Finally, Fortitude Family Office LLC raised its stake 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 during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Stock Performance

Shares of GM stock opened at $55.50 on Thursday. The stock has a fifty day moving average price of $51.29 and a 200 day moving average price of $47.94. The stock has a market cap of $61.03 billion, a PE ratio of 5.92, a P/E/G ratio of 0.45 and a beta of 1.40. General Motors has a 1 year low of $28.33 and a 1 year high of $61.24. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. The company had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.28 earnings per share. Sell-side analysts forecast that General Motors will post 10.35 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Friday, December 6th. General Motors’s dividend payout ratio (DPR) is presently 5.12%.

Analyst Upgrades and Downgrades

GM has been the subject of several recent research reports. Morgan Stanley downgraded General Motors from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $47.00 to $42.00 in a research note on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $53.00 target price on shares of General Motors in a report on Tuesday, September 10th. Nomura Securities upgraded General Motors to a “strong sell” rating in a report on Monday, August 5th. Barclays upped their target price on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. upped their target price on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, General Motors presently has a consensus rating of “Hold” and a consensus price target of $56.92.

Insider Buying and Selling at General Motors

In related news, EVP Rory Harvey sold 9,307 shares of General Motors stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $54.01, for a total value of $502,671.07. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at approximately $459,787.13. This trade represents a 52.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Craig B. Glidden sold 383,142 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the sale, the executive vice president now directly owns 122,465 shares in the company, valued at $6,935,192.95. This trade represents a 75.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,030,475 shares of company stock valued at $56,509,286. Company 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.