Heritage Investors Management Corp Sells 2,346 Shares of General Motors (NYSE:GM)

Heritage Investors Management Corp lowered its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 4.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,407 shares of the auto manufacturer’s stock after selling 2,346 shares during the quarter. Heritage Investors Management Corp’s holdings in General Motors were worth $1,703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Acadian Asset Management LLC raised its holdings in shares of General Motors by 454.3% in the third quarter. Acadian Asset Management LLC now owns 5,216,283 shares of the auto manufacturer’s stock worth $171,961,000 after buying an additional 4,275,293 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of General Motors by 32.6% during the third quarter. AQR Capital Management LLC now owns 8,326,682 shares of the auto manufacturer’s stock worth $274,531,000 after purchasing an additional 2,049,412 shares during the last quarter. Vanguard Group Inc. boosted its holdings in General Motors by 1.4% in the third quarter. Vanguard Group Inc. now owns 111,460,756 shares of the auto manufacturer’s stock valued at $3,674,861,000 after purchasing an additional 1,580,681 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in General Motors by 518.4% during the third quarter. EP Wealth Advisors LLC now owns 1,274,574 shares of the auto manufacturer’s stock worth $42,023,000 after acquiring an additional 1,068,474 shares during the period. Finally, Canada Pension Plan Investment Board lifted its holdings in General Motors by 175.2% in the third quarter. Canada Pension Plan Investment Board now owns 1,615,483 shares of the auto manufacturer’s stock valued at $53,262,000 after acquiring an additional 1,028,508 shares during the period. 92.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GM has been the subject of a number of recent analyst reports. Wedbush boosted their price objective on General Motors from $45.00 to $55.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Redburn Atlantic began coverage on shares of General Motors in a research report on Wednesday, January 24th. They issued a “neutral” rating and a $40.00 target price on the stock. Piper Sandler lifted their price objective on General Motors from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Royal Bank of Canada lifted their price target on shares of General Motors from $54.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, April 23rd. Finally, Sanford C. Bernstein initiated coverage on General Motors in a research report on Thursday, April 25th. They issued an “outperform” rating and a $55.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, General Motors has a consensus rating of “Moderate Buy” and an average price target of $54.65.

General Motors Stock Up 0.7 %

GM traded up $0.31 on Thursday, reaching $45.36. The company’s stock had a trading volume of 9,346,970 shares, compared to its average volume of 16,824,982. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 1.22. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $46.17. The stock has a 50 day moving average of $43.14 and a two-hundred day moving average of $37.16. The company has a market capitalization of $51.75 billion, a price-to-earnings ratio of 5.55, a P/E/G ratio of 0.53 and a beta of 1.49.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The firm had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. During the same period in the previous year, the company earned $2.21 earnings per share. General Motors’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, analysts forecast that General Motors will post 9.44 EPS for the current fiscal year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, June 7th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.06%. General Motors’s payout ratio is 5.87%.

Insider Buying and Selling

In other General Motors news, CAO Christopher Hatto sold 15,510 shares of General Motors stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $40.02, for a total value of $620,710.20. Following the transaction, the chief accounting officer now directly owns 21,507 shares in the company, valued at approximately $860,710.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Christopher Hatto sold 15,510 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $40.02, for a total transaction of $620,710.20. Following the completion of the transaction, the chief accounting officer now directly owns 21,507 shares of the company’s stock, valued at approximately $860,710.14. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Gerald Johnson sold 15,190 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $40.03, for a total value of $608,055.70. Following the completion of the transaction, the executive vice president now owns 98,628 shares of the company’s stock, valued at approximately $3,948,078.84. The disclosure for this sale can be found here. Insiders sold a total of 86,248 shares of company stock worth $3,614,078 in the last 90 days. Company insiders own 0.72% of the company’s stock.

General Motors Profile

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.