Cannell & Co. Sells 3,405 Shares of General Motors (NYSE:GM)

Cannell & Co. reduced its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 170,135 shares of the auto manufacturer’s stock after selling 3,405 shares during the quarter. Cannell & Co.’s holdings in General Motors were worth $6,111,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of GM. Highlander Capital Management LLC purchased a new position in shares of General Motors in the fourth quarter worth $27,000. SouthState Corp grew its holdings in General Motors by 173.8% in the 3rd quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock worth $25,000 after acquiring an additional 485 shares during the last quarter. Bfsg LLC purchased a new position in shares of General Motors in the fourth quarter valued at about $35,000. Tennessee Valley Asset Management Partners bought a new position in shares of General Motors during the fourth quarter valued at about $36,000. Finally, BluePath Capital Management LLC purchased a new stake in shares of General Motors during the third quarter worth about $33,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Activity

In related news, EVP Julian G. Blissett sold 13,826 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total value of $528,706.24. Following the completion of the sale, the executive vice president now directly owns 87,567 shares of the company’s stock, valued at approximately $3,348,562.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Julian G. Blissett sold 13,826 shares of General Motors stock in a transaction on 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 owns 87,567 shares in the company, valued at approximately $3,348,562.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Gerald Johnson sold 27,122 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $45.26, for a total value 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 approximately $3,236,361.56. The disclosure for this sale can be found here. Insiders have sold a total of 86,248 shares of company stock valued at $3,614,078 in the last ninety days. Corporate insiders own 0.54% of the company’s stock.

General Motors Stock Performance

Shares of NYSE GM opened at $44.47 on Thursday. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 1.22. General Motors has a 12-month low of $26.30 and a 12-month high of $46.17. The firm has a market capitalization of $50.73 billion, a price-to-earnings ratio of 5.44, a price-to-earnings-growth ratio of 0.52 and a beta of 1.49. The firm has a 50 day moving average of $42.63 and a 200 day moving average of $36.63.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $43.01 billion during the quarter, compared to the consensus estimate of $41.09 billion. During the same quarter in the previous year, the firm posted $2.21 EPS. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, research analysts anticipate that General Motors will post 9.44 earnings per share for the current year.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, June 7th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Friday, June 7th. General Motors’s dividend payout ratio (DPR) is currently 5.87%.

Wall Street Analyst Weigh In

A number of research analysts have commented on GM shares. Barclays upped their price target on General Motors from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Deutsche Bank Aktiengesellschaft upped their target price on General Motors from $44.00 to $50.00 and gave the company a “hold” rating in a report on Tuesday, April 23rd. Wolfe Research upgraded shares of General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a report on Thursday, January 4th. Mizuho upped their price objective on shares of General Motors from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, Sanford C. Bernstein assumed coverage on General Motors in a research note on Thursday, April 25th. They set an “outperform” rating and a $55.00 target price on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.65.

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.