Janney Montgomery Scott LLC Has $18.47 Million Holdings in General Motors (NYSE:GM)

Janney Montgomery Scott LLC reduced its position in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 2.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 411,812 shares of the auto manufacturer's stock after selling 11,450 shares during the period. Janney Montgomery Scott LLC's holdings in General Motors were worth $18,466,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Chicago Partners Investment Group LLC grew its position in General Motors by 15.9% during the third quarter. Chicago Partners Investment Group LLC now owns 11,382 shares of the auto manufacturer's stock valued at $510,000 after purchasing an additional 1,559 shares in the last quarter. GHP Investment Advisors Inc. increased its stake in shares of General Motors by 35.6% in the third quarter. GHP Investment Advisors Inc. now owns 1,827 shares of the auto manufacturer's stock worth $82,000 after acquiring an additional 480 shares during the last quarter. ACR Alpine Capital Research LLC raised its holdings in shares of General Motors by 8.4% during the first quarter. ACR Alpine Capital Research LLC now owns 6,337,547 shares of the auto manufacturer's stock worth $287,408,000 after acquiring an additional 492,693 shares in the last quarter. BDF Gestion acquired a new stake in General Motors during the second quarter valued at $2,886,000. Finally, Donald Smith & CO. Inc. grew its stake in General Motors by 12.1% in the third quarter. Donald Smith & CO. Inc. now owns 1,629,573 shares of the auto manufacturer's stock valued at $73,070,000 after purchasing an additional 175,860 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company's stock.

General Motors Price Performance

Shares of General Motors stock traded up $1.35 during mid-day trading on Wednesday, reaching $55.05. 19,145,473 shares of the stock were exchanged, compared to its average volume of 15,008,628. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $55.38. The company has a market cap of $60.53 billion, a price-to-earnings ratio of 5.87, a price-to-earnings-growth 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. 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 released its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, beating analysts' consensus estimates of $2.49 by $0.47. The firm 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%. The business's revenue was up 10.5% on a year-over-year basis. During the same period last year, the firm posted $2.28 EPS. On average, sell-side analysts predict that General Motors will post 10.34 EPS for the current fiscal year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Friday, December 6th. General Motors's dividend payout ratio is 5.12%.

Insider Buying and Selling at General Motors

In related news, CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction dated Wednesday, October 23rd. The stock was 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 directly owns 694,548 shares in the company, valued at $37,040,244.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other General Motors news, EVP Rory Harvey sold 9,307 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $54.01, for a total value of $502,671.07. Following the transaction, the executive vice president now owns 8,513 shares of the company's stock, valued at approximately $459,787.13. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Mary T. Barra sold 506,824 shares of the company'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 directly owns 694,548 shares of the company's stock, valued at approximately $37,040,244.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 531,228 shares of company stock worth $28,267,714. Insiders own 0.72% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wells Fargo & Company boosted their target price on shares of General Motors from $33.00 to $38.00 and gave the stock an "underweight" rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $53.00 price objective on shares of General Motors in a report on Tuesday, September 10th. Wolfe Research began coverage on General Motors in a report on Thursday, September 5th. They set a "peer perform" rating on the stock. Wedbush increased their price objective on General Motors from $55.00 to $60.00 and gave the company an "outperform" rating in a report on Wednesday, October 23rd. Finally, DZ Bank lowered General Motors from a "buy" rating to a "hold" rating and set a $49.00 target price for the company. in a report on Friday, October 11th. Four 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $56.92.

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.