Amalgamated Bank Sells 9,657 Shares of General Motors (NYSE:GM)

Amalgamated Bank reduced its position in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 4.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 221,095 shares of the auto manufacturer's stock after selling 9,657 shares during the quarter. Amalgamated Bank's holdings in General Motors were worth $9,914,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Strategic Investment Solutions Inc. IL acquired a new stake in shares of General Motors during the second quarter worth $25,000. Catalyst Capital Advisors LLC acquired a new position in shares of General Motors during the 3rd quarter worth about $27,000. Wellington Shields Capital Management LLC bought a new stake in shares of General Motors in the 2nd quarter valued at about $28,000. Fortitude Family Office LLC raised its position in shares of General Motors by 56.1% in the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer's stock valued at $29,000 after acquiring an additional 225 shares during the period. Finally, Montag A & Associates Inc. acquired a new position in General Motors during the first quarter valued at approximately $30,000. Institutional investors own 92.67% of the company's stock.

Insiders Place Their Bets

In related news, EVP Rory Harvey sold 2,302 shares of the company's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $47.31, for a total value of $108,907.62. Following the transaction, the executive vice president now owns 10,356 shares in the company, valued at approximately $489,942.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Mary T. Barra sold 506,824 shares of the business'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 completion of the sale, the chief executive officer now owns 694,548 shares of the company's stock, valued at approximately $37,040,244.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the sale, the executive vice president now owns 10,356 shares of the company's stock, valued at $489,942.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 531,228 shares of company stock valued at $28,267,714 over the last ninety days. 0.72% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GM. Morgan Stanley cut shares of General Motors from an "equal weight" rating to an "underweight" rating and reduced their price target for the stock from $47.00 to $42.00 in a research report on Wednesday, September 25th. UBS Group boosted their target price on General Motors from $58.00 to $62.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Nomura lowered General Motors from a "neutral" rating to a "reduce" rating and set a $34.00 price target on the stock. in a research report on Monday, August 5th. StockNews.com lowered General Motors from a "buy" rating to a "hold" rating in a research report on Wednesday, July 24th. Finally, DZ Bank downgraded shares of General Motors from a "buy" rating to a "hold" rating and set a $49.00 target price on the stock. in a report on Friday, October 11th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $56.92.

General Motors Stock Performance

Shares of GM traded up $1.35 during midday trading on Wednesday, reaching $55.05. The stock had a trading volume of 19,145,473 shares, compared to its average volume of 15,008,628. The firm has a market cap of $60.53 billion, a PE ratio of 5.87, a P/E/G ratio of 0.39 and a beta of 1.40. The firm has a 50 day simple moving average of $48.58 and a 200-day simple moving average of $46.72. General Motors has a one year low of $26.30 and a one year high of $55.38. 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 (NYSE:GM - Get Free Report) TSE: GMM.U last posted its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping analysts' consensus estimates of $2.49 by $0.47. The business had revenue of $48.76 billion during the quarter, compared to analysts' expectations of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. General Motors's quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the company posted $2.28 earnings per share. As a group, sell-side analysts anticipate that General Motors will post 10.34 EPS for the current year.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Friday, December 6th. General Motors's dividend payout ratio (DPR) is presently 5.12%.

General Motors 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.