Coastline Trust Co Has $327,000 Stock Holdings in General Motors (NYSE:GM)

Coastline Trust Co reduced its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 33.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,300 shares of the auto manufacturer’s stock after selling 3,750 shares during the period. Coastline Trust Co’s holdings in General Motors were worth $327,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Empirical Finance LLC boosted its stake in shares of General Motors by 0.9% in the 3rd quarter. Empirical Finance LLC now owns 44,499 shares of the auto manufacturer’s stock valued at $1,995,000 after purchasing an additional 404 shares in the last quarter. CIBC Asset Management Inc lifted its stake in General Motors by 8.0% in the 3rd quarter. CIBC Asset Management Inc now owns 170,693 shares of the auto manufacturer’s stock valued at $7,654,000 after purchasing an additional 12,649 shares during the last quarter. Neumann Capital Management LLC boosted its position in General Motors by 1.2% in the third quarter. Neumann Capital Management LLC now owns 51,350 shares of the auto manufacturer’s stock valued at $2,303,000 after buying an additional 600 shares in the last quarter. ING Groep NV bought a new stake in shares of General Motors during the third quarter worth $19,780,000. Finally, Metis Global Partners LLC increased its holdings in shares of General Motors by 0.6% during the third quarter. Metis Global Partners LLC now owns 36,240 shares of the auto manufacturer’s stock worth $1,625,000 after buying an additional 230 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. raised 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. Sanford C. Bernstein lifted their price target on General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. UBS Group upped their price objective on General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Nomura Securities upgraded shares of General Motors to a “strong sell” rating in a research report on Monday, August 5th. Finally, Wells Fargo & Company upped 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. 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $56.92.

Insider Buying and Selling

In related news, President Mark L. Reuss sold 122,283 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total value of $6,745,130.28. Following the completion of the sale, the president now directly owns 126,907 shares of the company’s stock, valued at approximately $7,000,190.12. This represents a 49.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the transaction, 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 disclosure for this sale can be found here. Insiders have sold 653,511 shares of company stock worth $35,012,844 in the last quarter. Insiders own 0.72% of the company’s stock.

General Motors Price Performance

GM stock opened at $57.04 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. The company’s 50-day moving average is $49.72 and its 200-day moving average is $47.30. The stock has a market capitalization of $62.72 billion, a PE ratio of 6.08, a price-to-earnings-growth ratio of 0.44 and a beta of 1.40. General Motors has a 1 year low of $27.42 and a 1 year high of $59.39.

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

General Motors Dividend Announcement

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

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.