Vanguard Group Inc. Sells 1,421,201 Shares of General Motors (NYSE:GM)

Vanguard Group Inc. cut its holdings in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 92,945,961 shares of the auto manufacturer's stock after selling 1,421,201 shares during the quarter. Vanguard Group Inc. owned 9.34% of General Motors worth $4,951,231,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. LPL Financial LLC increased its position in General Motors by 8.5% in the 4th quarter. LPL Financial LLC now owns 640,491 shares of the auto manufacturer's stock valued at $34,119,000 after buying an additional 50,031 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of General Motors during the fourth quarter valued at approximately $28,298,000. Knights of Columbus Asset Advisors LLC increased its holdings in shares of General Motors by 1.9% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 189,240 shares of the auto manufacturer's stock valued at $10,081,000 after acquiring an additional 3,579 shares in the last quarter. Hillsdale Investment Management Inc. raised its position in shares of General Motors by 4.4% during the fourth quarter. Hillsdale Investment Management Inc. now owns 16,750 shares of the auto manufacturer's stock worth $892,000 after purchasing an additional 700 shares during the period. Finally, Runnymede Capital Advisors Inc. bought a new position in shares of General Motors in the fourth quarter valued at $46,000. 92.67% of the stock is currently owned by institutional investors.

Remove Ads

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GM. StockNews.com lowered shares of General Motors from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Cowen initiated coverage on General Motors in a research report on Thursday, March 6th. They set a "buy" rating on the stock. Hsbc Global Res lowered General Motors from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 11th. TD Cowen started coverage on shares of General Motors in a report on Friday, March 7th. They set a "buy" rating and a $105.00 price objective on the stock. Finally, HSBC lowered shares of General Motors from a "buy" rating to a "hold" rating and set a $58.00 target price for the company. in a research note on Wednesday, December 11th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $62.11.

Insiders Place Their Bets

In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the firm's stock in a transaction that occurred on Thursday, January 30th. The shares were bought at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the purchase, the director now owns 13,714 shares in the company, valued at $694,751.24. This trade represents a 700.12 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.72% of the company's stock.

General Motors Stock Performance

Shares of NYSE GM traded down $0.55 during trading on Friday, reaching $46.65. 18,815,180 shares of the stock traded hands, compared to its average volume of 13,329,083. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The stock has a market capitalization of $46.42 billion, a P/E ratio of 7.59, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. General Motors has a 52-week low of $38.96 and a 52-week high of $61.24. The company has a 50-day moving average of $48.89 and a 200-day moving average of $50.53.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. Analysts forecast that General Motors will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, March 7th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.03%. General Motors's payout ratio is 7.80%.

General Motors announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 26th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the auto manufacturer to purchase up to 12.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

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.