General Motors (NYSE:GM) Stake Lowered by Wynn Capital LLC

Wynn Capital LLC reduced its stake in shares of General Motors (NYSE:GMFree Report) (TSE:GMM.U) by 12.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,550 shares of the auto manufacturer’s stock after selling 950 shares during the period. Wynn Capital LLC’s holdings in General Motors were worth $297,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Highlander Capital Management LLC acquired a new position in General Motors during the 4th quarter worth $27,000. Cape Investment Advisory Inc. lifted 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 last quarter. Sachetta LLC acquired a new position in General Motors during the 4th quarter worth $33,000. Bfsg LLC acquired a new position in shares of General Motors during the fourth quarter valued at about $35,000. Finally, Tennessee Valley Asset Management Partners acquired a new position in shares of General Motors during the fourth quarter valued at about $36,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GM has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of General Motors from $44.00 to $50.00 and gave the company a “hold” rating in a research report on Tuesday, April 23rd. StockNews.com raised shares of General Motors from a “hold” rating to a “buy” rating in a research report on Saturday, June 1st. Morgan Stanley increased their price target on shares of General Motors from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 10th. Sanford C. Bernstein began coverage on shares of General Motors in a research report on Thursday, April 25th. They issued an “outperform” rating and a $55.00 price target for the company. Finally, Barclays increased their price target on shares of General Motors from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $54.81.

Check Out Our Latest Research Report on General Motors

Insider Transactions at General Motors

In other news, EVP Gerald Johnson sold 27,122 shares of General Motors 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 of the company’s stock, valued at $3,236,361.56. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Mary T. Barra sold 626,316 shares of General Motors stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the transaction, the chief executive officer now directly owns 1,198,648 shares of the company’s stock, valued at $52,093,242.08. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 completion of the sale, the executive vice president now directly owns 71,506 shares in the company, valued at $3,236,361.56. The disclosure for this sale can be found here. Insiders have sold a total of 1,183,243 shares of company stock valued at $53,203,153 over the last three months. 0.72% of the stock is currently owned by corporate insiders.

General Motors Trading Down 0.1 %

GM stock traded down $0.05 during midday trading on Friday, reaching $47.72. The company’s stock had a trading volume of 16,737,261 shares, compared to its average volume of 13,246,204. General Motors has a 52 week low of $26.30 and a 52 week high of $49.35. The stock has a market cap of $54.45 billion, a PE ratio of 5.83, a price-to-earnings-growth ratio of 0.55 and a beta of 1.46. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 1.22. The business’s 50-day simple moving average is $45.20 and its 200-day simple moving average is $40.89.

General Motors (NYSE:GMGet Free Report) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $41.09 billion. During the same period last year, the firm earned $2.21 earnings per share. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, sell-side analysts expect that General Motors will post 9.44 EPS for the current year.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Friday, June 7th were issued a $0.12 dividend. The ex-dividend date was Friday, June 7th. This represents a $0.48 annualized dividend and a yield of 1.01%. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

General Motors announced that its board has approved a stock repurchase plan on Tuesday, June 11th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the auto manufacturer to purchase up to 10.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

General Motors Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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