Intrust Bank NA Decreases Stock Holdings in General Motors (NYSE:GM)

Intrust Bank NA trimmed its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 12.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,507 shares of the auto manufacturer’s stock after selling 1,997 shares during the period. Intrust Bank NA’s holdings in General Motors were worth $521,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Handelsbanken Fonder AB boosted its position in General Motors by 18.5% during the fourth quarter. Handelsbanken Fonder AB now owns 475,061 shares of the auto manufacturer’s stock worth $17,064,000 after purchasing an additional 74,194 shares in the last quarter. Cerity Partners LLC raised its position in General Motors by 361.1% during the fourth quarter. Cerity Partners LLC now owns 119,714 shares of the auto manufacturer’s stock worth $4,300,000 after acquiring an additional 93,754 shares during the last quarter. Foundry Partners LLC grew its position in shares of General Motors by 15.0% in the third quarter. Foundry Partners LLC now owns 394,047 shares of the auto manufacturer’s stock valued at $12,992,000 after purchasing an additional 51,336 shares during the last quarter. Public Sector Pension Investment Board increased its stake in shares of General Motors by 10.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 147,383 shares of the auto manufacturer’s stock worth $4,859,000 after purchasing an additional 14,002 shares in the last quarter. Finally, AM Squared Ltd raised its position in shares of General Motors by 195.0% during the 4th quarter. AM Squared Ltd now owns 41,300 shares of the auto manufacturer’s stock worth $1,483,000 after purchasing an additional 27,300 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Transactions at General Motors

In other General Motors news, EVP Gerald Johnson sold 27,122 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 71,506 shares in the company, valued at $3,236,361.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other General Motors news, EVP Gerald Johnson sold 27,122 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the sale, the executive vice president now directly owns 71,506 shares of the company’s stock, valued at $3,236,361.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Christopher Hatto sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $45.00, for a total value of $157,500.00. Following the transaction, the chief accounting officer now directly owns 12,007 shares of the company’s stock, valued at $540,315. The disclosure for this sale can be found here. In the last 90 days, insiders sold 86,248 shares of company stock valued at $3,614,078. Insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

GM has been the subject of a number of analyst reports. The Goldman Sachs Group boosted their price target on General Motors from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Wells Fargo & Company lifted their price target on shares of General Motors from $28.00 to $30.00 and gave the stock an “underweight” rating in a report on Wednesday, April 24th. Barclays raised their target price on shares of General Motors from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Wolfe Research upgraded General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 price target for the company in a report on Thursday, January 4th. Finally, Piper Sandler raised their price objective on General Motors from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $54.65.

General Motors Stock Performance

Shares of NYSE:GM opened at $44.53 on Wednesday. The company has a market cap of $50.81 billion, a P/E ratio of 5.44, a PEG ratio of 0.54 and a beta of 1.51. General Motors has a one year low of $26.30 and a one year high of $46.17. The business’s 50-day simple moving average is $42.53 and its 200 day simple moving average is $36.57. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.97 and a current ratio of 1.16.

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

General Motors Dividend Announcement

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

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.