General Motors (NYSE:GM) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC lowered its position in General Motors (NYSE:GM) (TSE:GMM.U) by 19.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,557,423 shares of the auto manufacturer’s stock after selling 610,897 shares during the period. Clearbridge Investments LLC owned 0.26% of General Motors worth $136,234,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new position in General Motors during the fourth quarter worth about $25,000. Crews Bank & Trust purchased a new position in General Motors in the 4th quarter worth approximately $26,000. Compass Planning Associates Inc acquired a new position in shares of General Motors during the 4th quarter worth approximately $27,000. Whittier Trust Co. grew its position in shares of General Motors by 551.9% in the fourth quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer’s stock valued at $27,000 after purchasing an additional 425 shares in the last quarter. Finally, Duncker Streett & Co. Inc. lifted its position in General Motors by 9,960.0% during the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock worth $27,000 after buying an additional 498 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analyst Ratings Changes

GM has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft raised General Motors from a “hold” rating to a “buy” rating and raised their target price for the stock from $56.00 to $60.00 in a research note on Tuesday, January 21st. The Goldman Sachs Group set a $73.00 target price on shares of General Motors in a research note on Saturday, March 1st. Morgan Stanley raised shares of General Motors from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $46.00 to $54.00 in a research note on Tuesday, December 10th. UBS Group reaffirmed a “buy” rating on shares of General Motors in a research report on Monday, February 3rd. Finally, Cowen started coverage on General Motors in a research report on Thursday, March 6th. They issued a “buy” rating for the company. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $62.11.

Insider Buying and Selling

In other General Motors news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the stock in a transaction dated Thursday, January 30th. The stock was acquired at an average cost of $50.66 per share, with a total value of $607,920.00. Following the transaction, the director now owns 13,714 shares in the company, valued at $694,751.24. The trade was a 700.12 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.72% of the stock is owned by insiders.

General Motors Stock Performance

Shares of GM stock opened at $46.65 on Monday. General Motors has a 52 week low of $38.96 and a 52 week high of $61.24. The firm has a 50 day moving average of $48.89 and a two-hundred day moving average of $50.61. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $46.42 billion, a PE ratio of 7.59, a P/E/G ratio of 0.67 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, topping the consensus estimate of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. On average, research analysts predict that General Motors will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were paid a $0.12 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.03%. General Motors’s dividend payout ratio is currently 7.80%.

General Motors declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 26th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to repurchase up to 12.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

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.