General Motors Company (GM) Shares Sold by Summit Financial Wealth Advisors LLC

Summit Financial Wealth Advisors LLC lessened its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) by 57.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,555 shares of the auto manufacturer’s stock after selling 33,550 shares during the period. Summit Financial Wealth Advisors LLC’s holdings in General Motors were worth $992,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Intrust Bank NA boosted its stake in General Motors by 32.7% in the third quarter. Intrust Bank NA now owns 9,519 shares of the auto manufacturer’s stock valued at $384,000 after acquiring an additional 2,345 shares in the last quarter. Lehman Financial Resources Inc. boosted its stake in General Motors by 6.4% in the third quarter. Lehman Financial Resources Inc. now owns 67,653 shares of the auto manufacturer’s stock valued at $2,731,000 after acquiring an additional 4,050 shares in the last quarter. YHB Investment Advisors Inc. boosted its stake in General Motors by 7.8% in the third quarter. YHB Investment Advisors Inc. now owns 67,800 shares of the auto manufacturer’s stock valued at $2,738,000 after acquiring an additional 4,900 shares in the last quarter. Sei Investments Co. boosted its stake in General Motors by 32.0% in the third quarter. Sei Investments Co. now owns 1,273,738 shares of the auto manufacturer’s stock valued at $51,435,000 after acquiring an additional 308,502 shares in the last quarter. Finally, FDx Advisors Inc. boosted its stake in General Motors by 4.9% in the third quarter. FDx Advisors Inc. now owns 67,813 shares of the auto manufacturer’s stock valued at $2,738,000 after acquiring an additional 3,156 shares in the last quarter. Institutional investors own 74.51% of the company’s stock.

General Motors Company (NYSE:GM) traded up $0.63 during mid-day trading on Monday, hitting $43.29. 4,293,239 shares of the stock traded hands, compared to its average volume of 13,461,068. The firm has a market capitalization of $61,420.00, a price-to-earnings ratio of 6.89, a PEG ratio of 0.74 and a beta of 1.56. General Motors Company has a twelve month low of $31.92 and a twelve month high of $46.76. The company has a quick ratio of 0.79, a current ratio of 0.94 and a debt-to-equity ratio of 1.54.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, October 24th. The auto manufacturer reported $1.32 EPS for the quarter, beating the consensus estimate of $1.07 by $0.25. The business had revenue of $30.48 billion for the quarter, compared to analyst estimates of $29.93 billion. General Motors had a net margin of 2.00% and a return on equity of 20.95%. The company’s quarterly revenue was down 16.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.72 earnings per share. sell-side analysts expect that General Motors Company will post 6.24 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Friday, December 8th will be given a $0.38 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $1.52 annualized dividend and a dividend yield of 3.51%. General Motors’s dividend payout ratio is presently 32.90%.

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GM has been the subject of a number of research reports. BidaskClub raised shares of General Motors from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Vetr raised shares of General Motors from a “hold” rating to a “buy” rating and set a $37.42 target price for the company in a report on Monday, July 24th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $44.00 target price on shares of General Motors in a report on Tuesday, September 12th. Deutsche Bank AG raised shares of General Motors from a “hold” rating to a “buy” rating and upped their target price for the company from $36.00 to $51.00 in a report on Monday, September 25th. Finally, Citigroup Inc. reaffirmed a “buy” rating and issued a $53.00 target price on shares of General Motors in a report on Monday, October 2nd. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. General Motors currently has a consensus rating of “Hold” and a consensus price target of $43.61.

In other news, insider Alan S. Batey sold 8,144 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $35.57, for a total value of $289,682.08. Following the sale, the insider now directly owns 66,748 shares in the company, valued at $2,374,226.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Thomas S. Timko sold 44,791 shares of the stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $44.46, for a total transaction of $1,991,407.86. Following the completion of the sale, the chief accounting officer now owns 66,838 shares in the company, valued at $2,971,617.48. The disclosure for this sale can be found here. Insiders sold 979,266 shares of company stock worth $40,917,634 over the last quarter. Company insiders own 0.04% of the company’s stock.

About General Motors

General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.

Institutional Ownership by Quarter for General Motors (NYSE:GM)

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