General Motors (NYSE:GM) Holdings Cut by Raymond James & Associates

Raymond James & Associates cut its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 1.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,419,394 shares of the auto manufacturer’s stock after selling 27,284 shares during the quarter. Raymond James & Associates owned approximately 0.12% of General Motors worth $64,369,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Highlander Capital Management LLC bought a new stake in shares of General Motors during the fourth quarter valued at approximately $27,000. SouthState Corp increased its position in General Motors by 173.8% in the 3rd quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock valued at $25,000 after acquiring an additional 485 shares during the period. Riverview Trust Co bought a new stake in General Motors during the 1st quarter valued at $38,000. Cape Investment Advisory Inc. boosted its position in General Motors by 75.9% during the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after acquiring an additional 359 shares during the period. Finally, Sachetta LLC bought a new position in shares of General Motors in the fourth quarter worth $33,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at General Motors

In other General Motors news, CAO Christopher Hatto sold 15,510 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $40.02, for a total value of $620,710.20. Following the completion of the sale, the chief accounting officer now directly owns 21,507 shares of the company’s stock, valued at $860,710.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Julian G. Blissett sold 13,826 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total value of $528,706.24. Following the completion of the sale, the executive vice president now directly owns 87,567 shares in the company, valued at approximately $3,348,562.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Christopher Hatto sold 15,510 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $40.02, for a total value of $620,710.20. Following the transaction, the chief accounting officer now owns 21,507 shares in the company, valued at approximately $860,710.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 86,248 shares of company stock valued at $3,614,078. 0.54% of the stock is owned by corporate insiders.

General Motors Trading Up 0.4 %

NYSE GM traded up $0.19 on Friday, hitting $44.86. 10,046,006 shares of the stock were exchanged, compared to its average volume of 14,174,765. The company’s 50-day moving average price is $42.84 and its two-hundred day moving average price is $36.79. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 0.97. General Motors has a 52-week low of $26.30 and a 52-week high of $46.17. The company has a market capitalization of $51.18 billion, a price-to-earnings ratio of 5.48, a P/E/G ratio of 0.52 and a beta of 1.49.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.60. The company had revenue of $43.01 billion for the quarter, compared to analysts’ expectations of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.21 EPS. Research analysts predict that General Motors will post 9.44 EPS for the current year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, June 7th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Friday, June 7th. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company upped their price objective on shares of General Motors from $28.00 to $30.00 and gave the stock an “underweight” rating in a report on Wednesday, April 24th. Citigroup raised their price objective on shares of General Motors from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. StockNews.com upgraded General Motors from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. Tigress Financial lifted their price target on General Motors from $86.00 to $88.00 and gave the company a “strong-buy” rating in a research report on Thursday, February 15th. Finally, Redburn Atlantic began coverage on General Motors in a report on Wednesday, January 24th. They issued a “neutral” rating and a $40.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, General Motors currently has a consensus rating of “Moderate Buy” and an average target price of $54.65.

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.