Quent Capital LLC Cuts Stake in General Motors (NYSE:GM)

Quent Capital LLC cut its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 7.8% in the 4th quarter, Holdings Channel reports. The fund owned 3,167 shares of the auto manufacturer’s stock after selling 268 shares during the period. Quent Capital LLC’s holdings in General Motors were worth $169,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Golden State Wealth Management LLC acquired a new position in General Motors in the fourth quarter worth about $25,000. Crews Bank & Trust bought a new stake in shares of General Motors during the fourth quarter valued at approximately $26,000. Catalyst Capital Advisors LLC bought a new stake in shares of General Motors during the third quarter valued at approximately $27,000. Truvestments Capital LLC bought a new stake in shares of General Motors during the third quarter valued at approximately $27,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of General Motors during the fourth quarter valued at approximately $28,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Trading Up 2.2 %

NYSE GM opened at $47.71 on Thursday. General Motors has a twelve month low of $37.83 and a twelve month high of $61.24. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. The stock has a market cap of $47.47 billion, a price-to-earnings ratio of 7.76, a PEG ratio of 0.68 and a beta of 1.40. The firm’s 50 day moving average price is $51.49 and its two-hundred day moving average price is $49.98.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. Equities analysts anticipate that General Motors will post 11.28 EPS for the current year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Friday, March 7th. General Motors’s dividend payout ratio is currently 7.80%.

Insider Activity

In other news, EVP Craig B. Glidden sold 383,142 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the transaction, the executive vice president now directly owns 122,465 shares in the company, valued at $6,935,192.95. The trade was a 75.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the stock in a transaction dated Thursday, January 30th. The shares were bought at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the acquisition, the director now owns 13,714 shares in the company, valued at $694,751.24. This represents a 700.12 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.72% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada lifted their price target on General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. UBS Group boosted their target price on General Motors from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Wedbush boosted their target price on General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Mizuho boosted their target price on General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Finally, Hsbc Global Res cut General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, General Motors currently has a consensus rating of “Hold” and an average target price of $61.28.

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.