Claro Advisors LLC Cuts Stake in General Motors (NYSE:GM)

Claro Advisors LLC cut its holdings in General Motors (NYSE:GMFree Report) (TSE:GMM.U) by 15.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,127 shares of the auto manufacturer’s stock after selling 1,088 shares during the quarter. Claro Advisors LLC’s holdings in General Motors were worth $220,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of GM. VisionPoint Advisory Group LLC purchased a new position in shares of General Motors in the second quarter valued at $25,000. SouthState Corp grew its holdings in shares of General Motors by 173.8% in the third quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock valued at $25,000 after purchasing an additional 485 shares in the last quarter. Penserra Capital Management LLC lifted its position in General Motors by 85.8% in the first quarter. Penserra Capital Management LLC now owns 613 shares of the auto manufacturer’s stock worth $26,000 after buying an additional 283 shares during the last quarter. BluePath Capital Management LLC bought a new stake in General Motors in the third quarter worth $33,000. Finally, Blue Trust Inc. lifted its position in General Motors by 135.3% in the fourth quarter. Blue Trust Inc. now owns 1,412 shares of the auto manufacturer’s stock worth $47,000 after buying an additional 812 shares during the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Price Performance

GM opened at $44.89 on Wednesday. The business’s 50-day moving average is $39.88 and its two-hundred day moving average is $34.79. General Motors has a 1 year low of $26.30 and a 1 year high of $45.73. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.08 and a quick ratio of 0.90. The firm has a market capitalization of $51.82 billion, a PE ratio of 6.14, a price-to-earnings-growth ratio of 0.56 and a beta of 1.51.

General Motors (NYSE:GMGet Free Report) (TSE:GMM.U) last posted its earnings results on Tuesday, January 30th. The auto manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.08. General Motors had a return on equity of 14.34% and a net margin of 5.89%. The company had revenue of $42.98 billion for the quarter, compared to analyst estimates of $38.81 billion. During the same quarter in the previous year, the firm earned $2.12 earnings per share. The firm’s quarterly revenue was down .3% compared to the same quarter last year. Research analysts anticipate that General Motors will post 9 earnings per share for the current fiscal year.

General Motors Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Friday, March 1st were paid a dividend of $0.12 per share. This is a positive change from General Motors’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, February 29th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.07%. General Motors’s payout ratio is presently 6.57%.

Insider Transactions at General Motors

In other news, CAO Christopher Hatto sold 15,510 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $40.02, for a total transaction of $620,710.20. Following the sale, the chief accounting officer now owns 21,507 shares in the company, valued at $860,710.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Gerald Johnson sold 27,122 shares of General Motors stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the completion of the sale, the executive vice president now owns 71,506 shares of the company’s stock, valued at $3,236,361.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Christopher Hatto sold 15,510 shares of General Motors stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $40.02, for a total value of $620,710.20. Following the sale, the chief accounting officer now directly owns 21,507 shares of the company’s stock, valued at approximately $860,710.14. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 86,248 shares of company stock worth $3,614,078. Insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GM. Tigress Financial raised their price target on General Motors from $86.00 to $88.00 and gave the stock a “strong-buy” rating in a research report on Thursday, February 15th. TheStreet upgraded General Motors from a “c+” rating to a “b-” rating in a research report on Tuesday, March 19th. Wolfe Research upgraded General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 target price for the company in a research report on Thursday, January 4th. The Goldman Sachs Group lifted their target price on General Motors from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Finally, Piper Sandler assumed coverage on General Motors in a research report on Friday, March 15th. They set a “neutral” rating and a $44.00 target price for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $50.63.

Check Out Our Latest Report on General Motors

About General Motors

(Free Report)

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.

See Also

Institutional Ownership by Quarter for General Motors (NYSE:GM)

Receive News & Ratings for General Motors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Motors and related companies with MarketBeat.com's FREE daily email newsletter.