General Motors (NYSE:GM) Shares Sold by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC lowered its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 2.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 14,924 shares of the auto manufacturer’s stock after selling 315 shares during the quarter. Verdence Capital Advisors LLC’s holdings in General Motors were worth $536,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in General Motors by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 111,460,756 shares of the auto manufacturer’s stock worth $3,674,861,000 after buying an additional 1,580,681 shares during the last quarter. Morgan Stanley boosted its holdings in General Motors by 1.3% in the third quarter. Morgan Stanley now owns 15,212,672 shares of the auto manufacturer’s stock worth $501,562,000 after purchasing an additional 201,080 shares during the period. Northern Trust Corp increased its stake in General Motors by 1.8% during the third quarter. Northern Trust Corp now owns 13,196,412 shares of the auto manufacturer’s stock valued at $435,086,000 after purchasing an additional 237,359 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of General Motors by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 9,768,787 shares of the auto manufacturer’s stock worth $322,077,000 after purchasing an additional 197,750 shares during the period. Finally, LSV Asset Management boosted its holdings in shares of General Motors by 1.7% in the 3rd quarter. LSV Asset Management now owns 8,617,870 shares of the auto manufacturer’s stock valued at $284,131,000 after buying an additional 144,886 shares during the period. Institutional investors own 92.67% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on GM. Royal Bank of Canada increased their price objective on shares of General Motors from $52.00 to $54.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Piper Sandler initiated coverage on General Motors in a research report on Friday, March 15th. They set a “neutral” rating and a $44.00 price objective for the company. Morgan Stanley raised their target price on General Motors from $43.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10th. TheStreet upgraded shares of General Motors from a “c+” rating to a “b-” rating in a research report on Tuesday, March 19th. Finally, Wolfe Research upgraded shares of General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective on the stock in a research report on Thursday, January 4th. One analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $51.57.

General Motors Price Performance

Shares of NYSE GM opened at $43.25 on Tuesday. General Motors has a twelve month low of $26.30 and a twelve month high of $46.04. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 1.21. The firm has a 50-day moving average of $41.73 and a two-hundred day moving average of $35.96. The company has a market capitalization of $49.93 billion, a price-to-earnings ratio of 5.92, a PEG ratio of 0.50 and a beta of 1.51.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, January 30th. The auto manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.08. General Motors had a net margin of 5.89% and a return on equity of 14.34%. The firm had revenue of $42.98 billion for the quarter, compared to analyst estimates of $38.81 billion. During the same quarter in the previous year, the business posted $2.12 earnings per share. The firm’s quarterly revenue was down .3% compared to the same quarter last year. As a group, analysts expect that General Motors will post 9.12 earnings per share for the current fiscal year.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.11%. General Motors’s payout ratio is 6.57%.

Insider Buying and Selling

In other General Motors news, CAO Christopher Hatto sold 3,500 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $45.00, for a total value of $157,500.00. Following the completion of the sale, the chief accounting officer now owns 12,007 shares in the company, valued at approximately $540,315. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total value of $528,706.24. Following the transaction, the executive vice president now owns 87,567 shares in the company, valued at $3,348,562.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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. In the last ninety days, insiders sold 86,248 shares of company stock valued at $3,614,078. Corporate insiders own 0.54% 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.