Ninety One UK Ltd Reduces Holdings in General Motors (NYSE:GM)

Ninety One UK Ltd cut its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 7.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,087,347 shares of the auto manufacturer’s stock after selling 329,631 shares during the quarter. Ninety One UK Ltd’s holdings in General Motors were worth $146,818,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. SouthState Corp lifted 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 valued at $25,000 after purchasing an additional 485 shares during the last quarter. Penserra Capital Management LLC raised its stake in General Motors by 85.8% during the first quarter. Penserra Capital Management LLC now owns 613 shares of the auto manufacturer’s stock valued at $26,000 after buying an additional 283 shares during the last quarter. Highlander Capital Management LLC bought a new position in shares of General Motors during the fourth quarter valued at $27,000. BluePath Capital Management LLC bought a new position in General Motors in the 3rd quarter worth about $33,000. Finally, Tennessee Valley Asset Management Partners purchased a new position in General Motors in the fourth quarter worth about $36,000. 92.67% of the stock is currently owned by institutional investors.

General Motors Trading Down 0.7 %

Shares of GM traded down $0.28 during midday trading on Thursday, hitting $42.18. The stock had a trading volume of 5,091,063 shares, compared to its average volume of 17,292,275. The firm has a market cap of $48.69 billion, a PE ratio of 5.81, a price-to-earnings-growth ratio of 0.52 and a beta of 1.51. General Motors has a 1 year low of $26.30 and a 1 year high of $46.04. The stock’s 50 day moving average is $41.50 and its 200 day moving average is $35.68. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.08 and a quick ratio of 0.90.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, January 30th. The auto manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.08. The firm had revenue of $42.98 billion during the quarter, compared to analyst estimates of $38.81 billion. General Motors had a return on equity of 14.34% and a net margin of 5.89%. General Motors’s quarterly revenue was down .3% compared to the same quarter last year. During the same period last year, the company earned $2.12 EPS. As a group, analysts forecast that General Motors will post 9.08 EPS for the current fiscal year.

General Motors Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Friday, March 1st were paid a $0.12 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.48 annualized dividend and a yield of 1.14%. This is a boost from General Motors’s previous quarterly dividend of $0.09. General Motors’s dividend payout ratio is 6.57%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GM. Redburn Atlantic started coverage on shares of General Motors in a report on Wednesday, January 24th. They issued a “neutral” rating and a $40.00 price objective for the company. TheStreet raised General Motors from a “c+” rating to a “b-” rating in a research report on Tuesday, March 19th. The Goldman Sachs Group increased their price target on General Motors from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Morgan Stanley increased their price objective on shares of General Motors from $43.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 10th. Finally, Royal Bank of Canada increased their price target on shares of General Motors from $52.00 to $54.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $51.57.

Insiders Place Their Bets

In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of the 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 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 hyperlink. In related news, EVP Julian G. Blissett sold 13,826 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total transaction of $528,706.24. Following the sale, the executive vice president now owns 87,567 shares of the company’s stock, valued at $3,348,562.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Christopher Hatto sold 3,500 shares of the 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 sale, 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 ninety days, insiders sold 86,248 shares of company stock worth $3,614,078. 0.54% of the stock is currently owned by company 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.