Atlantic Union Bankshares Corp Has $772,000 Position in General Motors (NYSE:GM)

Atlantic Union Bankshares Corp lessened its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 8.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,227 shares of the auto manufacturer’s stock after selling 1,673 shares during the period. Atlantic Union Bankshares Corp’s holdings in General Motors were worth $772,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in GM. Chicago Partners Investment Group LLC increased its position in General Motors by 15.9% during the 3rd 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 during the period. Donald Smith & CO. Inc. increased its position in shares of General Motors by 12.1% during the third quarter. Donald Smith & CO. Inc. now owns 1,629,573 shares of the auto manufacturer’s stock worth $73,070,000 after buying an additional 175,860 shares during the period. Foster & Motley Inc. raised its stake in General Motors by 121.5% during the third quarter. Foster & Motley Inc. now owns 47,169 shares of the auto manufacturer’s stock worth $2,115,000 after buying an additional 25,869 shares during the last quarter. Stoneridge Investment Partners LLC lifted its holdings in General Motors by 115.1% in the third quarter. Stoneridge Investment Partners LLC now owns 178,443 shares of the auto manufacturer’s stock valued at $8,001,000 after buying an additional 95,484 shares during the period. Finally, Olstein Capital Management L.P. boosted its position in General Motors by 14.9% during the third quarter. Olstein Capital Management L.P. now owns 162,000 shares of the auto manufacturer’s stock valued at $7,264,000 after acquiring an additional 21,000 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Stock Performance

Shares of General Motors stock opened at $55.62 on Friday. The company has a market cap of $61.16 billion, a PE ratio of 5.93, a price-to-earnings-growth ratio of 0.42 and a beta of 1.40. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. General Motors has a 52 week low of $31.52 and a 52 week high of $61.24. The business has a 50 day moving average price of $51.56 and a 200-day moving average price of $48.06.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.47. The business had revenue of $48.76 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.28 EPS. Equities analysts anticipate that General Motors will post 10.35 earnings per share for the current fiscal year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors 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 0.86%. The ex-dividend date is Friday, December 6th. General Motors’s dividend payout ratio (DPR) is presently 5.12%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Wolfe Research initiated coverage on General Motors in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Morgan Stanley cut General Motors from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $47.00 to $42.00 in a report on Wednesday, September 25th. UBS Group raised their price objective on shares of General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Barclays increased their target price on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, DZ Bank cut shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target 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 given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $56.92.

Insiders Place Their Bets

In other news, EVP Craig B. Glidden sold 383,142 shares of General Motors stock in a transaction on Monday, November 18th. The stock was sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the sale, the executive vice president now directly owns 122,465 shares in the company, valued at $6,935,192.95. The trade was a 75.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Rory Harvey sold 8,919 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $60.01, for a total transaction of $535,229.19. Following the transaction, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $510,865.13. The trade was a 51.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,030,475 shares of company stock valued at $56,509,286. Corporate insiders own 0.72% of the company’s stock.

About General Motors

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.