Patten & Patten Inc. TN Sells 436 Shares of General Motors (NYSE:GM)

Patten & Patten Inc. TN lowered its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 1.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,494 shares of the auto manufacturer’s stock after selling 436 shares during the quarter. Patten & Patten Inc. TN’s holdings in General Motors were worth $1,358,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Golden State Wealth Management LLC bought a new stake in General Motors during the 4th quarter valued at $25,000. Crews Bank & Trust purchased a new position in General Motors during the 4th quarter worth $26,000. Truvestments Capital LLC purchased a new position in General Motors during the 3rd quarter worth $27,000. Compass Planning Associates Inc purchased a new position in General Motors during the 4th quarter worth $27,000. Finally, Duncker Streett & Co. Inc. boosted its holdings in General Motors by 9,960.0% during the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock worth $27,000 after acquiring an additional 498 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. UBS Group reaffirmed a “buy” rating on shares of General Motors in a report on Monday, February 3rd. Wells Fargo & Company reaffirmed an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. Mizuho boosted their price target on shares of General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. The Goldman Sachs Group set a $73.00 price target on shares of General Motors in a report on Saturday, March 1st. Finally, HSBC downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a report on Wednesday, December 11th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $62.89.

Insider Activity

In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were bought at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the transaction, the director now owns 13,714 shares in the company, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.72% of the company’s stock.

General Motors Trading Up 2.6 %

Shares of GM opened at $48.34 on Monday. The business’s 50-day moving average price is $49.23 and its 200-day moving average price is $50.48. General Motors has a twelve month low of $38.96 and a twelve month high of $61.24. The stock has a market cap of $48.10 billion, a PE ratio of 7.86, a P/E/G ratio of 0.67 and a beta of 1.42. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, beating 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, equities analysts forecast that General Motors will post 11.44 EPS for the current fiscal 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 given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Friday, March 7th. General Motors’s dividend payout ratio is presently 7.80%.

General Motors declared that its board has authorized a stock buyback program on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

General Motors Profile

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.