General Motors (NYSE:GM) Shares Sold by Carret Asset Management LLC

Carret Asset Management LLC cut its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 3.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 15,796 shares of the auto manufacturer’s stock after selling 500 shares during the quarter. Carret Asset Management LLC’s holdings in General Motors were worth $716,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of GM. Vanguard Group Inc. grew its holdings in shares of General Motors by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 111,460,756 shares of the auto manufacturer’s stock worth $3,674,861,000 after acquiring an additional 1,580,681 shares during the last quarter. Putnam Investments LLC boosted its position in General Motors by 16.8% during the fourth quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock valued at $726,942,000 after purchasing an additional 2,905,689 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in General Motors by 21.9% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock valued at $650,062,000 after purchasing an additional 3,247,050 shares during the last quarter. Norges Bank acquired a new stake in General Motors during the fourth quarter valued at $602,280,000. Finally, Morgan Stanley boosted its position in General Motors by 1.3% during the third quarter. Morgan Stanley now owns 15,212,672 shares of the auto manufacturer’s stock valued at $501,562,000 after purchasing an additional 201,080 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Mary T. Barra sold 626,316 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total value 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 approximately $52,093,242.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, President Mark L. Reuss sold 14,858 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $46.01, for a total value of $683,616.58. Following the transaction, the president now directly owns 162,049 shares of the company’s stock, valued at approximately $7,455,874.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mary T. Barra sold 626,316 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total value 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. In the last ninety days, insiders have sold 1,152,621 shares of company stock worth $51,818,111. Company insiders own 0.72% of the company’s stock.

General Motors Trading Down 0.6 %

Shares of GM opened at $46.68 on Thursday. General Motors has a 12-month low of $26.30 and a 12-month high of $49.35. 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 firm has a market capitalization of $53.26 billion, a price-to-earnings ratio of 5.71, a P/E/G ratio of 0.50 and a beta of 1.43. The stock’s 50-day moving average price is $45.70 and its 200 day moving average price is $41.61.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The firm had revenue of $43.01 billion for the quarter, compared to analyst estimates of $41.09 billion. During the same period in the previous year, the company posted $2.21 earnings per share. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, research analysts predict that General Motors will post 9.43 earnings per share for the current year.

General Motors declared that its board has initiated a stock repurchase program on Tuesday, June 11th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the auto manufacturer to buy up to 10.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Friday, June 7th were paid a $0.12 dividend. The ex-dividend date was Friday, June 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.03%. General Motors’s dividend payout ratio is currently 5.87%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on GM shares. Wedbush lifted 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. TheStreet raised General Motors from a “c+” rating to a “b-” rating in a research report on Tuesday, March 19th. Wells Fargo & Company boosted their price target on General Motors from $30.00 to $32.00 and gave the stock an “underweight” rating in a research report on Tuesday, June 25th. Sanford C. Bernstein began coverage on 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, Mizuho boosted their price target on General Motors from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, General Motors currently has an average rating of “Moderate Buy” and an average target price of $54.91.

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.