Brighton Jones LLC Reduces Stock Position in General Motors (NYSE:GM)

Brighton Jones LLC reduced its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 8.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 6,913 shares of the auto manufacturer’s stock after selling 634 shares during the period. Brighton Jones LLC’s holdings in General Motors were worth $248,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of GM. SouthState Corp boosted its holdings in shares of General Motors by 173.8% during the third quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock worth $25,000 after purchasing an additional 485 shares during the period. Highlander Capital Management LLC purchased a new stake in General Motors in the fourth quarter worth about $27,000. BluePath Capital Management LLC purchased a new stake in General Motors in the third quarter worth about $33,000. Bfsg LLC bought a new stake in General Motors during the 4th quarter valued at approximately $35,000. Finally, Tennessee Valley Asset Management Partners bought a new stake in General Motors during the 4th quarter valued at approximately $36,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on GM. Barclays lifted their price objective on General Motors from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Sanford C. Bernstein began coverage on General Motors in a research report on Thursday, April 25th. They set an “outperform” rating and a $55.00 price objective on the stock. TheStreet raised General Motors from a “c+” rating to a “b-” rating in a research report on Tuesday, March 19th. Deutsche Bank Aktiengesellschaft lifted their price objective on General Motors from $44.00 to $50.00 and gave the company a “hold” rating in a research report on Tuesday, April 23rd. Finally, 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $54.65.

General Motors Stock Performance

Shares of GM opened at $44.86 on Friday. General Motors has a 52 week low of $26.30 and a 52 week high of $46.17. The stock has a market cap of $51.18 billion, a P/E ratio of 5.48, a P/E/G ratio of 0.52 and a beta of 1.49. The business’s 50 day moving average price is $42.74 and its 200-day moving average price is $36.69. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 1.22.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The company had revenue of $43.01 billion during the quarter, compared to analyst estimates of $41.09 billion. During the same period in the previous year, the business earned $2.21 EPS. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. Equities research analysts anticipate that General Motors will post 9.44 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be issued a $0.12 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.07%. General Motors’s payout ratio is currently 5.87%.

Insider Buying and Selling

In related news, CAO Christopher Hatto sold 15,510 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $40.02, for a total value of $620,710.20. Following the completion of the transaction, the chief accounting officer now directly owns 21,507 shares in the company, valued at approximately $860,710.14. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other General Motors news, CAO Christopher Hatto sold 15,510 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $40.02, for a total transaction of $620,710.20. Following the completion of the sale, the chief accounting officer now directly owns 21,507 shares in the company, valued at approximately $860,710.14. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Gerald Johnson sold 15,190 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $40.03, for a total transaction of $608,055.70. Following the sale, the executive vice president now owns 98,628 shares of the company’s stock, valued at $3,948,078.84. The disclosure for this sale can be found here. Insiders sold a total of 86,248 shares of company stock worth $3,614,078 in the last three months. Insiders own 0.54% of the company’s stock.

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.