Lbp Am Sa Decreases Position in General Motors (NYSE:GM)

Lbp Am Sa reduced its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 88.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 45,726 shares of the auto manufacturer’s stock after selling 335,359 shares during the quarter. Lbp Am Sa’s holdings in General Motors were worth $2,074,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Public Employees Retirement Association of Colorado boosted its stake in shares of General Motors by 1,213.0% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 2,203,771 shares of the auto manufacturer’s stock valued at $79,159,000 after purchasing an additional 2,035,925 shares during the period. Handelsbanken Fonder AB grew its stake in shares of General Motors by 18.5% during the fourth quarter. Handelsbanken Fonder AB now owns 475,061 shares of the auto manufacturer’s stock valued at $17,064,000 after acquiring an additional 74,194 shares in the last quarter. US Bancorp DE increased its position in shares of General Motors by 59.3% during the fourth quarter. US Bancorp DE now owns 86,888 shares of the auto manufacturer’s stock worth $3,121,000 after acquiring an additional 32,331 shares during the last quarter. GSA Capital Partners LLP lifted its stake in shares of General Motors by 317.6% in the fourth quarter. GSA Capital Partners LLP now owns 67,807 shares of the auto manufacturer’s stock worth $2,436,000 after acquiring an additional 51,571 shares in the last quarter. Finally, Cerity Partners LLC boosted its holdings in General Motors by 361.1% in the fourth quarter. Cerity Partners LLC now owns 119,714 shares of the auto manufacturer’s stock valued at $4,300,000 after purchasing an additional 93,754 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analyst Ratings Changes

GM has been the subject of a number of research analyst reports. Morgan Stanley lowered shares of General Motors from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $46.00 to $47.00 in a research note on Wednesday, July 24th. Bank of America reaffirmed a “buy” rating and issued a $75.00 price objective on shares of General Motors in a report on Wednesday, June 12th. Wedbush reissued an “outperform” rating and set a $55.00 target price on shares of General Motors in a report on Wednesday, July 24th. Piper Sandler boosted their price objective on shares of General Motors from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Finally, UBS Group raised their target price on shares of General Motors from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, General Motors currently has an average rating of “Moderate Buy” and a consensus price target of $56.38.

General Motors Trading Down 2.1 %

Shares of NYSE:GM traded down $0.95 during midday trading on Thursday, reaching $43.37. The company had a trading volume of 15,905,470 shares, compared to its average volume of 15,957,373. The company has a fifty day simple moving average of $46.47 and a two-hundred day simple moving average of $43.19. The firm has a market cap of $48.74 billion, a price-to-earnings ratio of 5.42, a price-to-earnings-growth ratio of 0.45 and a beta of 1.43. General Motors has a 1-year low of $26.30 and a 1-year high of $50.50. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, topping the consensus estimate of $2.67 by $0.39. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The company had revenue of $47.97 billion during the quarter, compared to analysts’ expectations of $45.13 billion. During the same period last year, the company posted $1.91 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. Research analysts predict that General Motors will post 9.91 earnings per share for the current year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, September 6th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.11%. General Motors’s payout ratio is currently 5.87%.

General Motors declared that its board has approved a share repurchase program on Tuesday, June 11th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the auto manufacturer to buy up to 10.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Transactions at General Motors

In other General Motors news, President Mark L. Reuss sold 150,000 shares of General Motors stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the transaction, the president now owns 176,907 shares of the company’s stock, valued at approximately $7,684,840.08. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other General Motors news, President Mark L. Reuss sold 150,000 shares of General Motors stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the completion of the sale, the president now owns 176,907 shares of the company’s stock, valued at approximately $7,684,840.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mary T. Barra sold 626,316 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the completion of the transaction, the chief executive officer now directly owns 1,198,648 shares in the company, valued at $52,093,242.08. The disclosure for this sale can be found here. Insiders sold a total of 1,152,621 shares of company stock valued at $51,818,111 over the last quarter. Company insiders own 0.72% of the company’s stock.

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.