Carret Asset Management LLC Sells 1,423 Shares of General Motors (NYSE:GM)

Carret Asset Management LLC trimmed its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 8.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,296 shares of the auto manufacturer’s stock after selling 1,423 shares during the period. Carret Asset Management LLC’s holdings in General Motors were worth $585,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Pacifica Partners Inc. grew its position in General Motors by 10.1% in the fourth quarter. Pacifica Partners Inc. now owns 3,288 shares of the auto manufacturer’s stock valued at $107,000 after acquiring an additional 301 shares in the last quarter. RWA Wealth Partners LLC increased its stake in General Motors by 5.0% during the 4th quarter. RWA Wealth Partners LLC now owns 6,740 shares of the auto manufacturer’s stock valued at $242,000 after buying an additional 319 shares during the period. Cornerstone Wealth Management LLC grew its holdings in General Motors by 6.6% during the fourth quarter. Cornerstone Wealth Management LLC now owns 6,481 shares of the auto manufacturer’s stock worth $233,000 after acquiring an additional 404 shares during the period. CX Institutional boosted its stake in shares of General Motors by 4.2% during the 3rd quarter. CX Institutional now owns 10,675 shares of the auto manufacturer’s stock worth $352,000 after acquiring an additional 431 shares in the last quarter. Finally, Graypoint LLC grew its position in General Motors by 2.8% during the 4th quarter. Graypoint LLC now owns 16,397 shares of the auto manufacturer’s stock worth $589,000 after purchasing an additional 447 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

General Motors Trading Up 0.6 %

General Motors stock traded up $0.27 during mid-day trading on Thursday, hitting $45.35. The company’s stock had a trading volume of 5,895,769 shares, compared to its average volume of 17,408,008. The firm has a market capitalization of $52.35 billion, a PE ratio of 5.52, a price-to-earnings-growth ratio of 0.53 and a beta of 1.51. The company has a current ratio of 1.16, a quick ratio of 0.90 and a debt-to-equity ratio of 1.22. General Motors has a 1 year low of $26.30 and a 1 year high of $46.04. The stock’s fifty day moving average is $42.00 and its two-hundred day moving average is $36.12.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The business had revenue of $43.01 billion for the quarter, compared to analyst estimates of $41.09 billion. During the same quarter last year, the company earned $2.21 EPS. The business’s quarterly revenue was up 7.6% on a year-over-year basis. On average, analysts anticipate that General Motors will post 9.26 EPS for the current year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Friday, June 7th. General Motors’s dividend payout ratio is currently 5.87%.

Insider Buying and Selling at General Motors

In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of the business’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 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Julian G. Blissett sold 13,826 shares of the business’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 sale, the executive vice president now directly owns 87,567 shares in the company, valued at approximately $3,348,562.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Christopher Hatto sold 3,500 shares of General Motors stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $45.00, for a total value of $157,500.00. Following the transaction, the chief accounting officer now 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 have sold 86,248 shares of company stock worth $3,614,078. 0.54% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Tigress Financial raised their target price on General Motors from $86.00 to $88.00 and gave the company a “strong-buy” rating in a report on Thursday, February 15th. TheStreet upgraded General Motors from a “c+” rating to a “b-” rating in a research report on Tuesday, March 19th. Wedbush lifted their price objective on General Motors from $45.00 to $55.00 and gave the stock an “outperform” rating in a research note on Wednesday. Wolfe Research raised General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 target price for the company in a research note on Thursday, January 4th. Finally, Royal Bank of Canada upped their target price on shares of General Motors from $54.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $54.38.

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.