General Motors Company (NYSE:GM) Stake Cut by Levin Capital Strategies L.P.

Levin Capital Strategies L.P. cut its position in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 39.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 230,367 shares of the auto manufacturer’s stock after selling 151,096 shares during the period. Levin Capital Strategies L.P.’s holdings in General Motors were worth $10,834,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Measured Risk Portfolios Inc. purchased a new stake in shares of General Motors during the 4th quarter worth about $27,000. Costello Asset Management INC bought a new position in shares of General Motors in the 1st quarter valued at approximately $32,000. Transce3nd LLC bought a new position in shares of General Motors in the 4th quarter valued at approximately $34,000. North Capital Inc. bought a new position in shares of General Motors in the 1st quarter valued at approximately $40,000. Finally, Ossiam bought a new position in shares of General Motors in the 4th quarter valued at approximately $44,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Price Performance

Shares of NYSE:GM opened at $52.78 on Tuesday. General Motors Company has a 1-year low of $38.96 and a 1-year high of $61.24. The firm has a market capitalization of $50.25 billion, a PE ratio of 8.38, a PEG ratio of 1.11 and a beta of 1.36. The business’s 50 day moving average is $50.63 and its 200-day moving average is $48.78. The company has a current ratio of 1.22, a quick ratio of 1.05 and a debt-to-equity ratio of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 EPS for the quarter, beating the consensus estimate of $2.52 by $0.01. The business had revenue of $47.12 billion for the quarter, compared to analyst estimates of $45.87 billion. General Motors had a return on equity of 12.98% and a net margin of 2.54%. General Motors’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.06 EPS. Sell-side analysts predict that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, September 5th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.60 annualized dividend and a yield of 1.1%. General Motors’s payout ratio is currently 9.52%.

Wall Street Analysts Forecast Growth

GM has been the topic of a number of recent analyst reports. Wedbush reissued an “outperform” rating and issued a $55.00 price objective on shares of General Motors in a research note on Wednesday, July 23rd. Piper Sandler reissued a “neutral” rating and issued a $48.00 price objective (up from $43.00) on shares of General Motors in a research note on Thursday, May 22nd. Barclays raised their price objective on General Motors from $45.00 to $55.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 16th. BNP Paribas raised General Motors to a “strong-buy” rating in a research note on Monday, May 5th. Finally, Wells Fargo & Company raised their price objective on General Motors from $34.00 to $38.00 and gave the company an “underweight” rating in a research note on Wednesday, July 23rd. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.35.

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.