Kingsview Wealth Management LLC Trims Holdings in General Motors Company (NYSE:GM)

Kingsview Wealth Management LLC decreased its holdings in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 64.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,925 shares of the auto manufacturer's stock after selling 9,012 shares during the quarter. Kingsview Wealth Management LLC's holdings in General Motors were worth $232,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC increased its position in shares of General Motors by 456.1% during the 4th quarter. Brighton Jones LLC now owns 38,717 shares of the auto manufacturer's stock valued at $2,062,000 after purchasing an additional 31,755 shares during the last quarter. LPL Financial LLC increased its position in shares of General Motors by 8.5% during the 4th quarter. LPL Financial LLC now owns 640,491 shares of the auto manufacturer's stock valued at $34,119,000 after purchasing an additional 50,031 shares during the last quarter. TIAA Trust National Association increased its position in shares of General Motors by 25.4% during the 4th quarter. TIAA Trust National Association now owns 8,008 shares of the auto manufacturer's stock valued at $427,000 after purchasing an additional 1,624 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of General Motors by 1.6% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 18,742 shares of the auto manufacturer's stock valued at $998,000 after purchasing an additional 290 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in shares of General Motors by 48.9% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,274,671 shares of the auto manufacturer's stock valued at $67,902,000 after purchasing an additional 418,380 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company's stock.

General Motors Trading Up 2.0%

GM traded up $1.04 during trading on Friday, reaching $53.38. The company had a trading volume of 6,483,783 shares, compared to its average volume of 10,352,842. The stock has a market cap of $50.82 billion, a P/E ratio of 8.47, a PEG ratio of 1.13 and a beta of 1.32. The business has a 50 day simple moving average of $50.23 and a 200-day simple moving average of $48.72. General Motors Company has a 52 week low of $38.96 and a 52 week high of $61.24. The company has a quick ratio of 1.04, a current ratio of 1.22 and a debt-to-equity ratio of 1.42.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.52 by $0.01. The company had revenue of $47.12 billion during the quarter, compared to the consensus estimate of $45.87 billion. General Motors had a return on equity of 12.98% and a net margin of 2.54%. General Motors's revenue was down 1.8% on a year-over-year basis. During the same period last year, the company earned $3.06 earnings per share. On average, equities analysts anticipate that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, September 5th will be given a $0.15 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.60 dividend on an annualized basis and a yield of 1.12%. General Motors's dividend payout ratio is presently 9.52%.

Analyst Ratings Changes

GM has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft lowered shares of General Motors from a "buy" rating to a "hold" rating and set a $43.00 target price for the company. in a report on Monday, April 14th. Royal Bank Of Canada upped their price target on General Motors from $55.00 to $57.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Mizuho upped their price target on General Motors from $53.00 to $58.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. UBS Group upped their price target on General Motors from $50.00 to $56.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. Finally, Benchmark initiated coverage on General Motors in a research note on Monday, July 21st. They issued a "buy" rating and a $65.00 price target for the company. Four equities research analysts have rated the stock with a sell rating, ten 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, the company presently has an average rating of "Hold" and an average price target of $56.35.

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.