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Douglas Lane & Associates LLC Cuts Holdings in General Motors Company (GM)

Douglas Lane & Associates LLC Cuts Holdings in General Motors Company (GM)

General Motors Company (NYSE:GM) early Tuesday posted better than expected third quarter earnings results, despite a sharp drop in revenue, and reiterated its full-year outlook. Short shares grew from 37,516,223 to 37,954,007 over that timeframe. Alpha Cubed Investments LLC's holdings in Ford Motor were worth $947,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Summit X LLC acquired a new position in General Motors in the 3rd quarter valued at about $209,000. Finally, Ffcm LLC boosted its stake in General Motors by 2,008.1% during the 2nd quarter. Balasa Dinverno & Foltz LLC grew its stake in General Motors by 11.5% in the 3rd quarter. Investors helped drive the share price up in premarket trading on Tuesday by 3% after news of the quarterly results was released. Finally, PGGM Investments grew its stake in General Motors by 16.6% in the 3rd quarter. The firm owned 2,356,074 shares of the auto manufacturer's stock after selling 50,284 shares during the quarter. The stock was sold at an average price of $37.00, for a total transaction of $370,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alicia S. Boler-Davis sold 10,000 shares of the firm's stock in a transaction on Friday, October 6th. The 50 day moving average moved up $3.62 whereas the 200 day average was up by +24.09%. The disclosure for this sale can be found here. Atalanta Sosnoff Lc holds 0.04% of its portfolio in General Motors Company (NYSE:GM) for 35,662 shares.

Now insiders hold 2,492,271 shares in the business which makes up 0.17% of shares.

GM has been the topic of a number of analyst reports. Piper Jaffray Companies reissued a "buy" rating and issued a $44.00 price target on shares of General Motors in a research report on Wednesday, July 12th. The rating was downgraded by Standpoint Research to "Hold" on Thursday, September 14. On Thursday, August 13 the stock rating was upgraded by Vetr to "Buy".

These are 2 Sell Ratings, 10 Hold Ratings, 10 Buy Ratings, 1 Strong Buy Rating. General Motors Company now has an average rating of "Hold" and a consensus price target of $35.25. First Interstate Financial Bank reported 0.01% in General Motors Company (NYSE:GM). If you are reading this piece on another site, it was stolen and republished in violation of United States & worldwide trademark & copyright legislation. General Motors Company has a 1-year low of $30.21 and a 1-year high of $46.76.




Among 27 analysts covering General Motors Company (NYSE:GM), 14 have Buy rating, 2 Sell and 11 Hold. 16,718,797 shares of the company's stock traded hands. Institute For Wealth Ltd Company has invested 0.34% in Ford Motor Company (NYSE:F).

The company's P/E ratio is 7.85 and market capitalization is 65.79B.

"With an aggressive vehicle launch cadence through the fourth quarter and an ongoing intense focus on costs, we project strong results through the end of the year", said Chuck Stevens, Executive Vice President and CFO of GM. General Motors Company had a return on equity of 23.22% and a net margin of 8.58%. The business had revenue of $30.48 billion during the quarter, compared to analysts' expectations of $29.93 billion.

The automaker generated auto operating cash flow of $1.1B during the quarter vs. $6.1B a year ago. The business's quarterly revenue was down 16.6% compared to the same quarter a year ago. Analysts surveyed by Thomson Reuters were expecting the company to earn $1.12 per share.

On 10/23/2017 announced a quarterly dividend of $0.38 with an ex dividend date of which will be payable on 12/8/2017. Shareholders must be on record as of December 8, 2017 to receive the dividend. This dividend represents a yield of $3.35 which is the dividend as a percentage of the current share price.

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