Clear Creek Financial Management LLC Sells 1,419 Shares of General Motors (NYSE:GM)

Clear Creek Financial Management LLC trimmed its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 15.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,881 shares of the auto manufacturer’s stock after selling 1,419 shares during the quarter. Clear Creek Financial Management LLC’s holdings in General Motors were worth $353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Fullcircle Wealth LLC raised its position in shares of General Motors by 16.1% during the third quarter. Fullcircle Wealth LLC now owns 15,552 shares of the auto manufacturer’s stock worth $697,000 after acquiring an additional 2,159 shares during the last quarter. Chicago Partners Investment Group LLC raised its position in shares of General Motors by 15.9% during the third quarter. Chicago Partners Investment Group LLC now owns 11,382 shares of the auto manufacturer’s stock worth $510,000 after acquiring an additional 1,559 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of General Motors by 20.4% during the third quarter. Farther Finance Advisors LLC now owns 6,021 shares of the auto manufacturer’s stock worth $270,000 after acquiring an additional 1,019 shares during the last quarter. Gladstone Institutional Advisory LLC increased its holdings in General Motors by 3.5% in the third quarter. Gladstone Institutional Advisory LLC now owns 14,150 shares of the auto manufacturer’s stock worth $635,000 after purchasing an additional 478 shares in the last quarter. Finally, Cordatus Wealth Management LLC bought a new stake in General Motors in the third quarter worth approximately $239,000. 92.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GM shares. Morgan Stanley downgraded General Motors from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $47.00 to $42.00 in a report on Wednesday, September 25th. StockNews.com downgraded General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. The Goldman Sachs Group lifted their target price on General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Barclays lifted their target price on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lifted their target price on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $56.92.

General Motors Stock Up 1.6 %

Shares of NYSE:GM opened at $51.80 on Tuesday. The company has a market capitalization of $56.96 billion, a PE ratio of 5.52, a price-to-earnings-growth ratio of 0.38 and a beta of 1.40. 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 business has a fifty day moving average price of $48.37 and a two-hundred day moving average price of $46.58. General Motors has a 1 year low of $26.30 and a 1 year high of $54.29.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.47. The firm 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 business’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.28 EPS. Analysts forecast that General Motors will post 10.34 earnings per share for the current year.

General Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be paid a $0.12 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.93%. General Motors’s dividend payout ratio (DPR) is presently 5.12%.

Insider Activity

In other news, EVP Rory Harvey sold 2,302 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the transaction, the executive vice president now owns 10,356 shares of the company’s stock, valued at $489,942.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Mary T. Barra sold 506,824 shares of the company’s 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 owns 694,548 shares of the company’s stock, valued at $37,040,244.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Rory Harvey sold 2,302 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total value of $108,907.62. Following the sale, the executive vice president now directly owns 10,356 shares in the company, valued at $489,942.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 531,228 shares of company stock valued at $28,267,714 in the last 90 days. 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.