Meeder Advisory Services Inc. Trims Stock Holdings in General Motors (NYSE:GM)

Meeder Advisory Services Inc. cut its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 8.0% during the third quarter, HoldingsChannel.com reports. The fund owned 26,318 shares of the auto manufacturer’s stock after selling 2,299 shares during the quarter. Meeder Advisory Services Inc.’s holdings in General Motors were worth $1,180,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the business. Capital World Investors grew its position in General Motors by 14.6% during the 1st quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock worth $2,211,609,000 after purchasing an additional 6,201,777 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of General Motors by 1.1% during the second quarter. Bank of New York Mellon Corp now owns 12,951,561 shares of the auto manufacturer’s stock worth $601,730,000 after buying an additional 135,717 shares during the last quarter. Dimensional Fund Advisors LP increased its position in General Motors by 9.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock valued at $600,291,000 after acquiring an additional 1,091,137 shares during the period. Diamond Hill Capital Management Inc. raised its stake in General Motors by 3.9% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 11,113,063 shares of the auto manufacturer’s stock valued at $498,310,000 after acquiring an additional 421,989 shares during the last quarter. Finally, LSV Asset Management lifted its position in General Motors by 2.6% during the 2nd quarter. LSV Asset Management now owns 8,847,440 shares of the auto manufacturer’s stock worth $411,052,000 after acquiring an additional 223,260 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GM has been the subject of several analyst reports. Royal Bank of Canada upped their price target on General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $53.00 target price on shares of General Motors in a research note on Tuesday, September 10th. DZ Bank lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target on the stock. in a research note on Friday, October 11th. Wells Fargo & Company lifted their price objective on General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a report on Wednesday, October 23rd. Finally, StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $56.92.

Insider Activity

In other news, EVP Rory Harvey sold 2,302 shares of the company’s 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 completion of the sale, the executive vice president now owns 10,356 shares of the company’s stock, valued at $489,942.36. This represents a 18.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Mark L. Reuss sold 122,283 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total value of $6,745,130.28. Following the sale, the president now owns 126,907 shares in the company, valued at approximately $7,000,190.12. The trade was a 49.07 % 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 valued at $35,012,844 in the last three months. Corporate insiders own 0.72% of the company’s stock.

General Motors Stock Down 1.4 %

Shares of NYSE GM opened at $56.26 on Tuesday. The firm has a market cap of $61.86 billion, a P/E ratio of 6.00, a price-to-earnings-growth ratio of 0.43 and a beta of 1.40. 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 has a 1 year low of $27.70 and a 1 year high of $59.39. The firm’s 50 day moving average price is $49.90 and its 200 day moving average price is $47.40.

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 for the quarter, topping the consensus estimate of $2.49 by $0.47. The business had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The company’s revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.28 EPS. As a group, sell-side analysts anticipate that General Motors will post 10.35 earnings per share for the current year.

General Motors Announces Dividend

The company 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 $0.12 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.85%. General Motors’s dividend payout ratio (DPR) is 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.