Raymond James Financial Services Advisors Inc. Reduces Position in General Motors Company (GM)

Raymond James Financial Services Advisors Inc. lessened its holdings in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 13.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 158,733 shares of the auto manufacturer’s stock after selling 23,908 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in General Motors were worth $6,410,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Berkshire Hathaway Inc. boosted its holdings in General Motors by 20.0% in the 2nd quarter. Berkshire Hathaway Inc. now owns 60,000,000 shares of the auto manufacturer’s stock valued at $2,095,800,000 after purchasing an additional 10,000,000 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in General Motors by 290.9% in the 2nd quarter. Janus Henderson Group PLC now owns 10,247,171 shares of the auto manufacturer’s stock valued at $357,944,000 after purchasing an additional 7,625,809 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in General Motors in the 3rd quarter valued at about $202,352,000. Vanguard Group Inc. boosted its holdings in General Motors by 4.0% in the 2nd quarter. Vanguard Group Inc. now owns 93,414,041 shares of the auto manufacturer’s stock valued at $3,262,952,000 after purchasing an additional 3,560,717 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its holdings in General Motors by 72.9% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 4,210,479 shares of the auto manufacturer’s stock valued at $147,072,000 after purchasing an additional 1,775,924 shares during the last quarter. 73.50% of the stock is owned by institutional investors.

In related news, CAO Thomas S. Timko sold 44,791 shares of the stock in a transaction on Friday, October 27th. The shares were sold at an average price of $44.46, for a total value of $1,991,407.86. Following the transaction, the chief accounting officer now directly owns 66,838 shares of the company’s stock, valued at approximately $2,971,617.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Alicia S. Boler-Davis sold 10,000 shares of the stock in a transaction on Friday, October 6th. The shares were sold at an average price of $45.00, for a total transaction of $450,000.00. The disclosure for this sale can be found here. Insiders sold a total of 971,122 shares of company stock worth $40,627,952 over the last ninety days. Insiders own 0.04% of the company’s stock.

Shares of General Motors Company (GM) opened at $44.88 on Tuesday. General Motors Company has a 52-week low of $31.92 and a 52-week high of $46.76. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.94 and a quick ratio of 0.79. The company has a market cap of $63,750.00, a P/E ratio of 7.09, a price-to-earnings-growth ratio of 0.76 and a beta of 1.56.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, October 24th. The auto manufacturer reported $1.32 EPS for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.25. General Motors had a net margin of 2.00% and a return on equity of 20.95%. The company had revenue of $30.48 billion for the quarter, compared to the consensus estimate of $29.93 billion. During the same period in the prior year, the firm posted $1.72 EPS. The company’s quarterly revenue was down 16.6% compared to the same quarter last year. equities research analysts anticipate that General Motors Company will post 6.24 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Friday, December 8th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend is Thursday, December 7th. General Motors’s dividend payout ratio (DPR) is 32.90%.

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GM has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of General Motors from a “hold” rating to a “strong sell” rating in a report on Monday, July 24th. Vetr upgraded shares of General Motors from a “hold” rating to a “buy” rating and set a $37.42 target price on the stock in a report on Monday, July 24th. BidaskClub lowered shares of General Motors from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Royal Bank Of Canada boosted their target price on shares of General Motors from $37.00 to $38.00 and gave the company a “sector perform” rating in a report on Wednesday, July 26th. Finally, ValuEngine upgraded shares of General Motors from a “buy” rating to a “strong-buy” rating in a report on Friday, July 28th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $43.61.

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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