General Motors (NYSE:GM) Position Trimmed by Procyon Advisors LLC

Procyon Advisors LLC cut its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 15.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 23,576 shares of the auto manufacturer’s stock after selling 4,263 shares during the period. Procyon Advisors LLC’s holdings in General Motors were worth $847,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of GM. Blair William & Co. IL lifted its holdings in shares of General Motors by 10.6% in the 1st quarter. Blair William & Co. IL now owns 157,520 shares of the auto manufacturer’s stock worth $6,890,000 after purchasing an additional 15,117 shares during the last quarter. Aviva PLC grew its stake in shares of General Motors by 32.7% in the 1st quarter. Aviva PLC now owns 278,485 shares of the auto manufacturer’s stock worth $12,181,000 after purchasing an additional 68,683 shares during the last quarter. Moors & Cabot Inc. lifted its position in shares of General Motors by 12.8% during the 1st quarter. Moors & Cabot Inc. now owns 10,767 shares of the auto manufacturer’s stock valued at $471,000 after acquiring an additional 1,225 shares during the last quarter. Brighton Jones LLC boosted its position in shares of General Motors by 13.9% in the 1st quarter. Brighton Jones LLC now owns 4,768 shares of the auto manufacturer’s stock valued at $208,000 after purchasing an additional 581 shares during the period. Finally, Candriam Luxembourg S.C.A. boosted its holdings in shares of General Motors by 5.3% in the first quarter. Candriam Luxembourg S.C.A. now owns 103,800 shares of the auto manufacturer’s stock worth $4,540,000 after buying an additional 5,184 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Stock Up 1.3 %

NYSE GM traded up $0.58 on Thursday, reaching $45.17. The company had a trading volume of 2,618,546 shares, compared to its average volume of 18,300,623. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.90 and a current ratio of 1.08. The firm has a market capitalization of $52.15 billion, a price-to-earnings ratio of 6.10, a price-to-earnings-growth ratio of 0.54 and a beta of 1.50. General Motors has a 1-year low of $26.30 and a 1-year high of $45.54. The company’s fifty day moving average is $39.08 and its 200-day moving average is $34.46.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, January 30th. The auto manufacturer reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.08. The company had revenue of $42.98 billion during the quarter, compared to the consensus estimate of $38.81 billion. General Motors had a net margin of 5.89% and a return on equity of 14.34%. The company’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the prior year, the business posted $2.12 EPS. On average, research analysts forecast 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. Investors of record on Friday, March 1st were issued a dividend of $0.12 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.48 dividend on an annualized basis and a yield of 1.06%. This is a boost from General Motors’s previous quarterly dividend of $0.09. General Motors’s dividend payout ratio (DPR) is presently 6.57%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Wedbush boosted their price objective on shares of General Motors from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Wolfe Research upgraded shares of General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective for the company in a report on Thursday, January 4th. The Goldman Sachs Group raised their price objective on General Motors from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Mizuho boosted their target price on shares of General Motors from $44.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Barclays raised their price objective on shares of General Motors from $37.00 to $44.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, General Motors presently has a consensus rating of “Moderate Buy” and an average target price of $50.63.

Insiders Place Their Bets

In related news, EVP Julian G. Blissett sold 13,826 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total value of $528,706.24. Following the transaction, the executive vice president now owns 87,567 shares in the company, valued at approximately $3,348,562.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Julian G. Blissett sold 13,826 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total transaction of $528,706.24. Following the transaction, the executive vice president now directly owns 87,567 shares of the company’s stock, valued at $3,348,562.08. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Gerald Johnson sold 15,190 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $40.03, for a total value of $608,055.70. Following the sale, the executive vice president now directly owns 98,628 shares in the company, valued at $3,948,078.84. The disclosure for this sale can be found here. Insiders have sold a total of 55,626 shares of company stock valued at $2,229,036 over the last 90 days. 0.54% of the stock is currently owned by insiders.

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.