Waters Parkerson & CO. LLC Reduces Stock Position in General Motors (NYSE:GM)

Waters Parkerson & CO. LLC lowered its holdings in shares of General Motors (NYSE:GMFree Report) (TSE:GMM.U) by 3.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 384,520 shares of the auto manufacturer’s stock after selling 11,867 shares during the period. Waters Parkerson & CO. LLC’s holdings in General Motors were worth $12,678,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. VisionPoint Advisory Group LLC bought a new stake in General Motors in the 2nd quarter worth $25,000. SouthState Corp grew its holdings in General Motors by 173.8% in the 3rd quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock worth $25,000 after acquiring an additional 485 shares during the last quarter. Penserra Capital Management LLC grew its holdings in General Motors by 85.8% in the 1st quarter. Penserra Capital Management LLC now owns 613 shares of the auto manufacturer’s stock worth $26,000 after acquiring an additional 283 shares during the last quarter. JNBA Financial Advisors grew its holdings in General Motors by 149.1% in the 2nd quarter. JNBA Financial Advisors now owns 730 shares of the auto manufacturer’s stock worth $28,000 after acquiring an additional 437 shares during the last quarter. Finally, Northwest Capital Management Inc bought a new stake in shares of General Motors during the 2nd quarter valued at about $31,000. Institutional investors own 79.62% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on GM shares. Wedbush lifted their target price on shares of General Motors from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Wolfe Research raised shares of General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a research note on Thursday, January 4th. Benchmark reaffirmed a “buy” rating and set a $60.00 target price on shares of General Motors in a research note on Wednesday, October 25th. The Goldman Sachs Group lifted their target price on shares of General Motors from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Finally, Morgan Stanley lowered their price target on shares of General Motors from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.55.

Get Our Latest Analysis on General Motors

General Motors Stock Up 0.9 %

General Motors stock traded up $0.36 during trading hours on Monday, hitting $38.92. The stock had a trading volume of 932,337 shares, compared to its average volume of 18,877,881. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $44.93 billion, a P/E ratio of 5.27, a price-to-earnings-growth ratio of 0.47 and a beta of 1.49. General Motors has a 12-month low of $26.30 and a 12-month high of $43.63. The stock’s 50-day moving average price is $35.82 and its 200-day moving average price is $33.16.

General Motors (NYSE:GMGet Free Report) (TSE:GMM.U) last issued its earnings results on Tuesday, January 30th. The auto manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.08. General Motors had a net margin of 5.89% and a return on equity of 14.34%. The business had revenue of $42.98 billion during the quarter, compared to analysts’ expectations of $38.81 billion. During the same period in the previous year, the company earned $2.12 earnings per share. The business’s revenue for the quarter was down .3% compared to the same quarter last year. Equities research analysts anticipate that General Motors will post 9.01 EPS for the current fiscal year.

General Motors Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 14th. Stockholders of record on Friday, March 1st will be paid a $0.12 dividend. The ex-dividend date of this dividend is Thursday, February 29th. This is a positive change from General Motors’s previous quarterly dividend of $0.09. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.23%. General Motors’s payout ratio is currently 4.92%.

General Motors Profile

(Free Report)

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.

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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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