Beaconlight Capital LLC Trims Stock Position in General Motors (NYSE:GM)

Beaconlight Capital LLC decreased its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 34.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 171,145 shares of the auto manufacturer’s stock after selling 90,239 shares during the quarter. General Motors accounts for about 3.1% of Beaconlight Capital LLC’s investment portfolio, making the stock its 15th largest position. Beaconlight Capital LLC’s holdings in General Motors were worth $7,674,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in GM. RPg Family Wealth Advisory LLC bought a new stake in General Motors during the third quarter valued at about $58,000. Blueshift Asset Management LLC grew its stake in shares of General Motors by 229.0% during the 3rd quarter. Blueshift Asset Management LLC now owns 56,950 shares of the auto manufacturer’s stock valued at $2,554,000 after acquiring an additional 39,641 shares during the period. Glenmede Trust Co. NA increased its holdings in General Motors by 7.4% in the 3rd quarter. Glenmede Trust Co. NA now owns 442,171 shares of the auto manufacturer’s stock worth $19,827,000 after acquiring an additional 30,377 shares in the last quarter. Townsquare Capital LLC raised its stake in General Motors by 10.4% during the 3rd quarter. Townsquare Capital LLC now owns 71,693 shares of the auto manufacturer’s stock worth $3,215,000 after acquiring an additional 6,729 shares during the period. Finally, Avestar Capital LLC boosted its position in shares of General Motors by 2.3% in the third quarter. Avestar Capital LLC now owns 9,592 shares of the auto manufacturer’s stock worth $430,000 after purchasing an additional 213 shares during the period. 92.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on GM shares. Wells Fargo & Company raised their price objective 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. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $53.00 price objective on shares of General Motors in a research report on Tuesday, September 10th. Barclays increased their target price on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Nomura Securities raised General Motors to a “strong sell” rating in a report on Monday, August 5th. Finally, 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. Four equities research 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $56.92.

Insider Buying and Selling at General Motors

In other news, CEO Mary T. Barra sold 506,824 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total value of $27,028,923.92. Following the transaction, the chief executive officer now directly owns 694,548 shares in the company, valued at approximately $37,040,244.84. This represents a 42.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Craig B. Glidden sold 383,142 shares of General Motors 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 sale, the executive vice president now owns 122,465 shares of the company’s stock, valued at $6,935,192.95. The trade was a 75.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,021,556 shares of company stock worth $55,974,057 over the last 90 days. Company insiders own 0.72% of the company’s stock.

General Motors Trading Up 1.8 %

Shares of NYSE:GM traded up $0.98 during trading on Wednesday, hitting $55.77. The company had a trading volume of 1,332,154 shares, compared to its average volume of 14,898,002. The stock has a market cap of $61.32 billion, a price-to-earnings ratio of 5.84, a price-to-earnings-growth ratio of 0.45 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 company has a fifty day simple moving average of $51.15 and a two-hundred day simple moving average of $47.88. General Motors has a one year low of $28.33 and a one year high of $61.24.

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

General Motors Dividend Announcement

The company 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. This represents a $0.48 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s 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.