Shell Asset Management Co. Lowers Stock Holdings in General Motors (NYSE:GM)

Shell Asset Management Co. reduced its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 10.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 32,996 shares of the auto manufacturer’s stock after selling 3,665 shares during the quarter. Shell Asset Management Co.’s holdings in General Motors were worth $1,758,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Sherbrooke Park Advisers LLC grew its holdings in General Motors by 28.8% during the 4th quarter. Sherbrooke Park Advisers LLC now owns 6,758 shares of the auto manufacturer’s stock valued at $360,000 after purchasing an additional 1,510 shares during the last quarter. Rafferty Asset Management LLC boosted its position in General Motors by 10.5% in the 4th quarter. Rafferty Asset Management LLC now owns 102,228 shares of the auto manufacturer’s stock valued at $5,446,000 after buying an additional 9,697 shares during the period. Raiffeisen Bank International AG purchased a new stake in General Motors in the 4th quarter valued at about $732,000. Point72 Italy S.r.l. boosted its position in General Motors by 180.5% in the 4th quarter. Point72 Italy S.r.l. now owns 220,775 shares of the auto manufacturer’s stock valued at $11,761,000 after buying an additional 142,068 shares during the period. Finally, ProShare Advisors LLC boosted its position in General Motors by 9.1% in the 4th quarter. ProShare Advisors LLC now owns 198,543 shares of the auto manufacturer’s stock valued at $10,576,000 after buying an additional 16,555 shares during the period. 92.67% of the stock is currently owned by institutional investors.

General Motors Trading Up 0.5%

NYSE GM opened at $50.36 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. The firm has a market cap of $48.42 billion, a PE ratio of 8.19, a price-to-earnings-growth ratio of 0.67 and a beta of 1.36. The company has a 50 day moving average price of $46.85 and a 200 day moving average price of $50.02. General Motors has a 52 week low of $38.96 and a 52 week high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, April 29th. The auto manufacturer reported $2.78 EPS for the quarter, topping the consensus estimate of $2.63 by $0.15. The firm had revenue of $44.02 billion during the quarter, compared to analyst estimates of $42.64 billion. General Motors had a net margin of 3.21% and a return on equity of 15.29%. General Motors’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.62 EPS. As a group, sell-side analysts forecast that General Motors will post 11.44 EPS for the current fiscal year.

General Motors declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to buy up to 12.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

General Motors Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.15 per share. This is a positive change from General Motors’s previous quarterly dividend of $0.12. The ex-dividend date is Friday, June 6th. This represents a $0.60 dividend on an annualized basis and a yield of 1.19%. General Motors’s dividend payout ratio is presently 8.65%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GM. BNP Paribas raised shares of General Motors to a “strong-buy” rating in a research report on Monday, May 5th. Mizuho upped their price target on shares of General Motors from $53.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday. The Goldman Sachs Group lowered their price target on shares of General Motors from $73.00 to $63.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Deutsche Bank Aktiengesellschaft cut shares of General Motors from a “buy” rating to a “hold” rating and set a $43.00 price target for the company. in a research report on Monday, April 14th. Finally, Sanford C. Bernstein set a $36.00 price target on shares of General Motors in a research report on Monday, May 5th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $54.56.

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.