First Trust Advisors LP Reduces Holdings in General Motors (GM)

First Trust Advisors LP trimmed its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 21.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 476,005 shares of the auto manufacturer’s stock after selling 130,423 shares during the period. First Trust Advisors LP’s holdings in General Motors were worth $16,027,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Vicus Capital raised its holdings in shares of General Motors by 15.8% during the second quarter. Vicus Capital now owns 25,558 shares of the auto manufacturer’s stock worth $1,007,000 after purchasing an additional 3,483 shares during the period. Nikko Asset Management Americas Inc. grew its position in shares of General Motors by 21.6% during the third quarter. Nikko Asset Management Americas Inc. now owns 346,829 shares of the auto manufacturer’s stock worth $11,868,000 after acquiring an additional 61,723 shares during the last quarter. Trilogy Capital Inc. grew its position in shares of General Motors by 32.3% during the second quarter. Trilogy Capital Inc. now owns 21,586 shares of the auto manufacturer’s stock worth $850,000 after acquiring an additional 5,265 shares during the last quarter. Covenant Multifamily Offices LLC grew its position in shares of General Motors by 82.6% during the second quarter. Covenant Multifamily Offices LLC now owns 144,404 shares of the auto manufacturer’s stock worth $5,690,000 after acquiring an additional 65,343 shares during the last quarter. Finally, Pegasus Partners Ltd. grew its position in shares of General Motors by 13.3% during the second quarter. Pegasus Partners Ltd. now owns 41,923 shares of the auto manufacturer’s stock worth $1,652,000 after acquiring an additional 4,934 shares during the last quarter. 73.90% of the stock is currently owned by institutional investors.

GM has been the subject of several recent research reports. Zacks Investment Research upgraded shares of General Motors from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. Bank of America restated a “buy” rating and set a $60.00 price target on shares of General Motors in a research report on Wednesday, September 12th. Guggenheim restated a “buy” rating and set a $52.00 price target on shares of General Motors in a research report on Friday, July 20th. JPMorgan Chase & Co. lowered their price target on shares of General Motors from $58.00 to $54.00 and set an “overweight” rating for the company in a research report on Friday, July 27th. Finally, Jefferies Financial Group restated a “hold” rating and set a $39.00 price target on shares of General Motors in a research report on Friday, July 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $46.38.

Shares of GM opened at $35.70 on Friday. The stock has a market capitalization of $52.05 billion, a P/E ratio of 5.46, a P/E/G ratio of 0.70 and a beta of 1.25. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.89 and a quick ratio of 0.76. General Motors has a 52-week low of $30.56 and a 52-week high of $45.52.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Wednesday, October 31st. The auto manufacturer reported $1.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.62. The firm had revenue of $35.79 billion during the quarter, compared to analyst estimates of $34.85 billion. General Motors had a net margin of 0.56% and a return on equity of 25.81%. General Motors’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.32 EPS. Equities research analysts expect that General Motors will post 6.17 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 20th. Investors of record on Friday, December 7th will be given a $0.38 dividend. The ex-dividend date is Thursday, December 6th. This represents a $1.52 dividend on an annualized basis and a yield of 4.26%. General Motors’s dividend payout ratio is presently 22.96%.

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General Motors Profile

General Motors Company, together with its subsidiaries, designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

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

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