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

Cannell & Co. decreased its position in General Motors (NYSE:GM) (TSE:GMM.U) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 170,135 shares of the auto manufacturer’s stock after selling 3,405 shares during the period. Cannell & Co.’s holdings in General Motors were worth $6,111,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SouthState Corp raised its position in shares of General Motors by 173.8% during the 3rd quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock valued at $25,000 after acquiring an additional 485 shares during the last quarter. Highlander Capital Management LLC bought a new stake in General Motors in the fourth quarter valued at about $27,000. BluePath Capital Management LLC acquired a new position in General Motors in the third quarter valued at about $33,000. Bfsg LLC bought a new position in General Motors during the fourth quarter worth about $35,000. Finally, Tennessee Valley Asset Management Partners acquired a new position in shares of General Motors during the 4th quarter worth about $36,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Price Performance

NYSE:GM opened at $44.47 on Thursday. The stock’s 50-day simple moving average is $42.63 and its 200 day simple moving average is $36.63. General Motors has a 52-week low of $26.30 and a 52-week high of $46.17. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.97 and a current ratio of 1.16. The company has a market cap of $50.73 billion, a P/E ratio of 5.44, a P/E/G ratio of 0.52 and a beta of 1.49.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The company had revenue of $43.01 billion for the quarter, compared to analysts’ expectations of $41.09 billion. During the same quarter in the prior year, the business posted $2.21 EPS. The business’s revenue was up 7.6% compared to the same quarter last year. As a group, sell-side analysts forecast that General Motors will post 9.44 EPS 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. Stockholders of record on Friday, June 7th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Friday, June 7th. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Redburn Atlantic assumed coverage on shares of General Motors in a research note on Wednesday, January 24th. They set a “neutral” rating and a $40.00 price objective on the stock. 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 research report on Wednesday, April 24th. Citigroup upped their price objective on shares of General Motors from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. UBS Group raised their price objective on General Motors from $56.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, Barclays increased their price target on General Motors from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.65.

Insider Transactions at General Motors

In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total value of $528,706.24. Following the sale, the executive vice president now owns 87,567 shares in the company, valued at $3,348,562.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Julian G. Blissett sold 13,826 shares of General Motors stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total transaction 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 SEC, which is accessible through the SEC website. Also, CAO Christopher Hatto sold 3,500 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $45.00, for a total transaction of $157,500.00. Following the completion of the sale, the chief accounting officer now directly owns 12,007 shares of the company’s stock, valued at approximately $540,315. The disclosure for this sale can be found here. Insiders have sold 86,248 shares of company stock worth $3,614,078 in the last ninety days. Insiders own 0.54% of the company’s stock.

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.