Wintrust Investments LLC Sells 5,043 Shares of General Motors (NYSE:GM)
Wintrust Investments LLC lowered its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 19.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,917 shares of the auto manufacturer’s stock after selling 5,043 shares during the period. Wintrust Investments LLC’s holdings in General Motors were worth $806,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the company. Securian Asset Management Inc raised its stake in General Motors by 1.5% in the 2nd quarter. Securian Asset Management Inc now owns 136,085 shares of the auto manufacturer’s stock valued at $5,243,000 after acquiring an additional 2,003 shares during the period. Perigon Wealth Management LLC raised its stake in General Motors by 1.8% in the 2nd quarter. Perigon Wealth Management LLC now owns 18,026 shares of the auto manufacturer’s stock valued at $695,000 after acquiring an additional 316 shares during the period. Brave Asset Management Inc. bought a new stake in General Motors in the 2nd quarter valued at $224,000. Greenline Partners LLC bought a new stake in General Motors in the 2nd quarter valued at $407,000. Finally, Meeder Asset Management Inc. raised its stake in General Motors by 56.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 257,902 shares of the auto manufacturer’s stock valued at $9,937,000 after acquiring an additional 93,236 shares during the period. Institutional investors own 74.75% of the company’s stock.
Shares of GM traded up $0.24 during trading hours on Wednesday, hitting $37.20. 91,969 shares of the company were exchanged, compared to its average volume of 8,070,865. The company has a market cap of $53.05 billion, a price-to-earnings ratio of 5.69, a P/E/G ratio of 0.61 and a beta of 1.39. General Motors has a fifty-two week low of $30.56 and a fifty-two week high of $41.90. The company has a quick ratio of 0.83, a current ratio of 0.96 and a debt-to-equity ratio of 1.56. The firm’s fifty day moving average is $39.10 and its 200 day moving average is $38.20.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.52 annualized dividend and a dividend yield of 4.09%. General Motors’s dividend payout ratio is currently 23.24%.
In related news, President Mark L. Reuss sold 275,944 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $40.03, for a total transaction of $11,046,038.32. Following the completion of the sale, the president now directly owns 479,413 shares in the company, valued at approximately $19,190,902.39. The sale was disclosed in a filing with the SEC, which is available through this link. 0.51% of the stock is owned by corporate insiders.
A number of research firms recently weighed in on GM. Royal Bank of Canada increased their price target on General Motors to $52.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. They noted that the move was a valuation call. Morgan Stanley set a $46.00 price objective on General Motors and gave the company a “buy” rating in a report on Monday, August 12th. Citigroup upped their price objective on General Motors from $67.00 to $68.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Evercore ISI set a $50.00 price objective on General Motors and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, Credit Suisse Group initiated coverage on General Motors in a report on Wednesday, June 26th. They issued an “outperform” rating and a $48.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. General Motors has an average rating of “Buy” and an average target price of $47.62.
About General Motors
General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
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