Argyle Capital Management Inc. Sells 6,875 Shares of General Motors (NYSE:GM)

Argyle Capital Management Inc. decreased its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 9.8% in the fourth quarter, Holdings Channel reports. The fund owned 63,100 shares of the auto manufacturer’s stock after selling 6,875 shares during the period. Argyle Capital Management Inc.’s holdings in General Motors were worth $2,267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of GM. Pacifica Partners Inc. lifted its position in shares of General Motors by 10.1% during the 4th quarter. Pacifica Partners Inc. now owns 3,288 shares of the auto manufacturer’s stock worth $107,000 after buying an additional 301 shares during the period. RWA Wealth Partners LLC raised its stake in General Motors by 5.0% during the 4th quarter. RWA Wealth Partners LLC now owns 6,740 shares of the auto manufacturer’s stock worth $242,000 after buying an additional 319 shares during the period. Cornerstone Wealth Management LLC raised its holdings in shares of General Motors by 6.6% during the fourth quarter. Cornerstone Wealth Management LLC now owns 6,481 shares of the auto manufacturer’s stock worth $233,000 after acquiring an additional 404 shares during the period. CX Institutional boosted its position in shares of General Motors by 4.2% during the third quarter. CX Institutional now owns 10,675 shares of the auto manufacturer’s stock worth $352,000 after buying an additional 431 shares during the period. Finally, Graypoint LLC lifted its position in shares of General Motors by 2.8% in the fourth quarter. Graypoint LLC now owns 16,397 shares of the auto manufacturer’s stock worth $589,000 after purchasing an additional 447 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CAO Christopher Hatto sold 3,500 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $45.00, for a total transaction of $157,500.00. Following the transaction, the chief accounting officer now directly owns 12,007 shares of the company’s stock, valued at $540,315. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Gerald Johnson sold 27,122 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the transaction, the executive vice president now directly owns 71,506 shares in the company, valued at approximately $3,236,361.56. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Christopher Hatto sold 3,500 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $45.00, for a total value of $157,500.00. Following the sale, the chief accounting officer now directly owns 12,007 shares of the company’s stock, valued at $540,315. The disclosure for this sale can be found here. Over the last three months, insiders sold 86,248 shares of company stock worth $3,614,078. Corporate insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

GM has been the topic of a number of analyst reports. Wedbush upped their price objective on General Motors from $45.00 to $55.00 and gave the stock an “outperform” rating in a research note on Wednesday. Piper Sandler raised their price target on General Motors from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday. Mizuho upped their target price on General Motors from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday. The Goldman Sachs Group increased their target price on General Motors from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Finally, Tigress Financial lifted their price target on General Motors from $86.00 to $88.00 and gave the stock a “strong-buy” rating in a research report on Thursday, February 15th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, General Motors has a consensus rating of “Moderate Buy” and an average target price of $54.65.

General Motors Stock Performance

Shares of NYSE GM traded up $0.22 during trading on Friday, reaching $45.84. 12,153,282 shares of the company traded hands, compared to its average volume of 13,652,336. The stock has a market cap of $52.30 billion, a P/E ratio of 5.60, a PEG ratio of 0.53 and a beta of 1.51. General Motors has a 12-month low of $26.30 and a 12-month high of $46.17. The firm’s fifty day simple moving average is $42.27 and its 200 day simple moving average is $36.36. The company has a current ratio of 1.16, a quick ratio of 0.90 and a debt-to-equity ratio of 1.22.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, beating the consensus estimate of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The firm had revenue of $43.01 billion for the quarter, compared to analyst estimates of $41.09 billion. During the same quarter in the prior year, the company posted $2.21 earnings per share. General Motors’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, research analysts anticipate that General Motors will post 9.45 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be paid a $0.12 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.05%. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

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.