Bank of Montreal Can Sells 236,241 Shares of General Motors (NYSE:GM)

Bank of Montreal Can decreased its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 14.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,383,689 shares of the auto manufacturer’s stock after selling 236,241 shares during the quarter. Bank of Montreal Can’s holdings in General Motors were worth $64,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Strategic Investment Solutions Inc. IL bought a new stake in General Motors during the 2nd quarter valued at $25,000. Catalyst Capital Advisors LLC purchased a new position in shares of General Motors during the 3rd quarter valued at $27,000. Truvestments Capital LLC purchased a new position in shares of General Motors during the 3rd quarter valued at $27,000. Wellington Shields Capital Management LLC purchased a new position in shares of General Motors during the 2nd quarter valued at $28,000. Finally, Fortitude Family Office LLC grew its position in shares of General Motors by 56.1% during the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after purchasing an additional 225 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

Insider Activity

In related news, EVP Rory Harvey sold 9,307 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total value of $502,671.07. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $459,787.13. This represents a 52.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Mary T. Barra sold 506,824 shares of the 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 completion of the transaction, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. The trade was a 42.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,030,475 shares of company stock valued at $56,509,286. Insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on GM. Wedbush boosted their price target on shares of General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company boosted 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. UBS Group boosted their price target on shares of General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Wolfe Research began coverage on shares of General Motors in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Finally, Royal Bank of Canada upped their target price on shares of General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, General Motors currently has an average rating of “Hold” and an average price target of $56.92.

General Motors Stock Performance

Shares of NYSE:GM opened at $55.50 on Thursday. The company has a market cap of $61.03 billion, a price-to-earnings ratio of 5.92, a price-to-earnings-growth ratio of 0.45 and a beta of 1.40. The company has a 50-day moving average price of $51.29 and a 200-day moving average price of $47.94. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24. General Motors has a 12 month low of $28.33 and a 12 month high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, beating the consensus estimate 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 net margin of 6.06% and a return on equity of 16.30%. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.28 earnings per share. As a group, equities 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 will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Friday, December 6th. 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.