Douglas Lane & Associates LLC Sells 178,875 Shares of General Motors (NYSE:GM)

Douglas Lane & Associates LLC lessened its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 18.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 796,584 shares of the auto manufacturer’s stock after selling 178,875 shares during the period. Douglas Lane & Associates LLC owned about 0.07% of General Motors worth $42,434,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of GM. Chicago Partners Investment Group LLC grew its position in General Motors by 15.9% in the 3rd 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 period. 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 in the last quarter. Foster & Motley Inc. boosted 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 purchasing an additional 25,869 shares during the period. Stoneridge Investment Partners LLC increased its holdings in shares of General Motors by 115.1% in the 3rd quarter. Stoneridge Investment Partners LLC now owns 178,443 shares of the auto manufacturer’s stock worth $8,001,000 after buying an additional 95,484 shares during the last quarter. Finally, Olstein Capital Management L.P. lifted its holdings in shares of General Motors by 14.9% in the 3rd 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 last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at General Motors

In other General Motors news, EVP Craig B. Glidden sold 383,142 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the completion of the transaction, the executive vice president now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mary T. Barra sold 506,824 shares of the company’s stock in a transaction dated 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 owns 694,548 shares in the company, valued at approximately $37,040,244.84. This trade represents a 42.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,030,475 shares of company stock valued at $56,509,286 in the last quarter. Insiders own 0.72% of the company’s stock.

General Motors Trading Down 2.1 %

Shares of GM stock traded down $1.08 on Wednesday, reaching $50.90. 4,061,702 shares of the stock were exchanged, compared to its average volume of 8,371,647. The firm has a 50 day moving average of $53.96 and a two-hundred day moving average of $49.42. General Motors has a 1-year low of $34.32 and a 1-year high of $61.24. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. The stock has a market cap of $55.97 billion, a P/E ratio of 5.43, a price-to-earnings-growth ratio of 0.40 and a beta of 1.42.

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

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, December 6th were issued a $0.12 dividend. The ex-dividend date was Friday, December 6th. This represents a $0.48 annualized dividend and a dividend yield of 0.94%. General Motors’s dividend payout ratio (DPR) is 5.12%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GM. Sanford C. Bernstein boosted their price objective on shares of General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research report on Friday, October 25th. Morgan Stanley upgraded General Motors from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $46.00 to $54.00 in a research report on Tuesday, December 10th. Wedbush lifted their target price on General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. increased their price objective on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, The Goldman Sachs Group lifted their price objective on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Three analysts have rated the stock with a sell rating, ten have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, General Motors has an average rating of “Hold” and an average target price of $59.58.

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.