Planning Capital Management Corp Cuts Holdings in General Motors (NYSE:GM)

Planning Capital Management Corp cut its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 55.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,515 shares of the auto manufacturer’s stock after selling 6,776 shares during the quarter. Planning Capital Management Corp’s holdings in General Motors were worth $247,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL bought a new stake in General Motors in the second quarter worth about $25,000. Catalyst Capital Advisors LLC bought a new stake in shares of General Motors in the third quarter valued at approximately $27,000. Wellington Shields Capital Management LLC bought a new stake in shares of General Motors in the second quarter valued at approximately $28,000. Fortitude Family Office LLC raised its position in shares of General Motors by 56.1% in the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after purchasing an additional 225 shares during the period. Finally, EdgeRock Capital LLC bought a new stake in shares of General Motors in the second quarter valued at approximately $33,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

General Motors Price Performance

Shares of General Motors stock opened at $57.72 on Thursday. General Motors has a 52-week low of $27.41 and a 52-week high of $58.42. The stock has a market capitalization of $63.47 billion, a price-to-earnings ratio of 6.15, a price-to-earnings-growth ratio of 0.43 and a beta of 1.40. The company has a fifty day moving average of $49.33 and a 200-day moving average of $47.13. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, beating the consensus estimate 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 net margin of 6.06% and a return on equity of 16.30%. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.28 EPS. Equities research analysts expect that General Motors will post 10.35 EPS for the current year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, December 6th. This represents a $0.48 annualized dividend and a yield of 0.83%. General Motors’s payout ratio is currently 5.12%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GM. Wolfe Research began coverage on shares of General Motors in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Morgan Stanley lowered shares of General Motors from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $47.00 to $42.00 in a research report on Wednesday, September 25th. JPMorgan Chase & Co. upped their target price on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. DZ Bank lowered 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. Finally, Wedbush upped their target price on shares of General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, General Motors presently has a consensus rating of “Hold” and an average price target of $56.92.

Insider Buying and Selling at General Motors

In other General Motors news, President Mark L. Reuss sold 122,283 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the completion of the sale, the president now owns 126,907 shares of the company’s stock, valued at $7,000,190.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Mary T. Barra sold 506,824 shares of the 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 transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Mark L. Reuss sold 122,283 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the completion of the transaction, the president now owns 126,907 shares of the company’s stock, valued at approximately $7,000,190.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 653,511 shares of company stock valued at $35,012,844 in the last quarter. Company insiders own 0.72% of the company’s stock.

General Motors Company 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.