Signet Financial Management LLC Decreases Stock Holdings in General Motors (NYSE:GM)

Signet Financial Management LLC reduced its position in General Motors (NYSE:GM) (TSE:GMM.U) by 19.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,355 shares of the auto manufacturer’s stock after selling 5,506 shares during the quarter. Signet Financial Management LLC’s holdings in General Motors were worth $803,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. SouthState Corp increased its stake in shares of 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 increased its stake in shares of 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. Highlander Capital Management LLC acquired a new stake in shares of General Motors in the 4th quarter worth $27,000. BluePath Capital Management LLC acquired a new stake in shares of General Motors in the 3rd quarter worth $33,000. Finally, Tennessee Valley Asset Management Partners acquired a new stake in shares of General Motors in the 4th quarter worth $36,000. 92.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at General Motors

In other General Motors news, EVP Gerald Johnson sold 27,122 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the completion of the transaction, the executive vice president now directly owns 71,506 shares in the company, valued at approximately $3,236,361.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Christopher Hatto sold 15,510 shares of General Motors stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $40.02, for a total transaction of $620,710.20. Following the completion of the sale, the chief accounting officer now directly owns 21,507 shares in the company, valued at $860,710.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Gerald Johnson sold 27,122 shares of General Motors stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the sale, the executive vice president now owns 71,506 shares of the company’s stock, valued at $3,236,361.56. The disclosure for this sale can be found here. In the last three months, insiders sold 86,248 shares of company stock worth $3,614,078. 0.54% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Piper Sandler assumed coverage on General Motors in a research report on Friday, March 15th. They set a “neutral” rating and a $44.00 price objective for the company. Royal Bank of Canada raised their price objective on General Motors from $52.00 to $54.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Mizuho raised their target price on General Motors from $44.00 to $48.00 and gave the company a “buy” rating in a report on Monday, March 25th. Wedbush raised their target price on General Motors from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Finally, Wells Fargo & Company raised their target price on General Motors from $27.00 to $28.00 and gave the company an “underweight” rating in a report on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.57.

General Motors Stock Down 0.1 %

Shares of NYSE GM opened at $42.65 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 1.21. General Motors has a 52 week low of $26.30 and a 52 week high of $46.04. The firm has a 50-day moving average price of $41.42 and a 200 day moving average price of $35.64. The stock has a market capitalization of $49.24 billion, a price-to-earnings ratio of 5.83, a price-to-earnings-growth ratio of 0.52 and a beta of 1.51.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, January 30th. The auto manufacturer reported $1.24 EPS for the quarter, beating 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 firm had revenue of $42.98 billion during the quarter, compared to analysts’ expectations of $38.81 billion. During the same quarter last year, the business 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 9.08 EPS for the current fiscal year.

General Motors Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Friday, March 1st were issued a dividend of $0.12 per share. This is an increase from General Motors’s previous quarterly dividend of $0.09. This represents a $0.48 annualized dividend and a yield of 1.13%. The ex-dividend date was Thursday, February 29th. General Motors’s dividend payout ratio (DPR) is 6.57%.

General Motors Profile

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.