Allspring Global Investments Holdings LLC Trims Position in General Motors (NYSE:GM)

Allspring Global Investments Holdings LLC trimmed its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 22.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,104,115 shares of the auto manufacturer’s stock after selling 326,552 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.10% of General Motors worth $56,836,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in GM. Golden State Wealth Management LLC acquired a new position in General Motors during the fourth quarter worth about $25,000. Crews Bank & Trust purchased a new stake in shares of General Motors in the fourth quarter valued at about $26,000. Catalyst Capital Advisors LLC purchased a new stake in shares of General Motors in the third quarter valued at about $27,000. Truvestments Capital LLC purchased a new stake in shares of General Motors in the third quarter valued at about $27,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of General Motors during the fourth quarter valued at approximately $28,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GM has been the topic of several recent analyst reports. StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Mizuho upped their price objective on shares of General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Deutsche Bank Aktiengesellschaft raised shares of General Motors from a “hold” rating to a “buy” rating and increased their price target for the stock from $56.00 to $60.00 in a research note on Tuesday, January 21st. Hsbc Global Res downgraded shares of General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Finally, Royal Bank of Canada increased their price target on shares of General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $61.28.

General Motors Price Performance

General Motors stock opened at $47.90 on Friday. General Motors has a 52-week low of $38.05 and a 52-week high of $61.24. The firm has a fifty day moving average of $51.37 and a 200-day moving average of $49.96. The firm has a market capitalization of $47.66 billion, a P/E ratio of 7.79, a PEG ratio of 0.68 and a beta of 1.40. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. As a group, analysts predict that General Motors will post 11.28 EPS for the current year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Friday, March 7th. General Motors’s payout ratio is 7.80%.

Insider Activity at General Motors

In other news, EVP Craig B. Glidden sold 383,142 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $56.63, for a total value of $21,697,331.46. Following the completion of the sale, the executive vice president now owns 122,465 shares of the company’s stock, valued at approximately $6,935,192.95. The trade was a 75.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Rory Harvey sold 8,919 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $60.01, for a total transaction of $535,229.19. Following the completion of the sale, the executive vice president now owns 8,513 shares in the company, valued at approximately $510,865.13. This trade represents a 51.16 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

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.