General Motors (NYSE:GM) Shares Sold by Cannell & Spears LLC

Cannell & Spears LLC lessened its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 28.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 785,942 shares of the auto manufacturer’s stock after selling 315,587 shares during the period. Cannell & Spears LLC owned approximately 0.08% of General Motors worth $41,867,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of GM. Geode Capital Management LLC grew its stake in shares of General Motors by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 23,620,533 shares of the auto manufacturer’s stock worth $1,055,395,000 after purchasing an additional 106,878 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of General Motors by 6.1% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer’s stock valued at $774,766,000 after purchasing an additional 989,750 shares during the period. Norges Bank purchased a new stake in General Motors during the fourth quarter worth about $592,321,000. ACR Alpine Capital Research LLC grew its position in General Motors by 39.8% during the fourth quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer’s stock worth $394,060,000 after buying an additional 2,104,528 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its holdings in General Motors by 6.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 5,798,131 shares of the auto manufacturer’s stock valued at $259,988,000 after buying an additional 358,507 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Buying and Selling at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. bought 12,000 shares of General Motors stock in a transaction that occurred on Thursday, January 30th. The shares were acquired at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the acquisition, the director now owns 13,714 shares of the company’s stock, valued at $694,751.24. The trade was a 700.12 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.72% of the stock is currently owned by corporate insiders.

General Motors Stock Down 1.2 %

Shares of NYSE GM opened at $46.65 on Monday. The stock has a market capitalization of $46.42 billion, a PE ratio of 7.59, a P/E/G ratio of 0.67 and a beta of 1.42. 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 fifty day moving average of $48.89 and a 200-day moving average of $50.61. 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 results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. On average, analysts anticipate that General Motors will post 11.44 EPS for the current year.

General Motors declared that its Board of Directors has approved a share buyback program 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 programs are typically an indication that the company’s board of directors believes its stock is undervalued.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were issued a $0.12 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.48 annualized dividend and a yield of 1.03%. General Motors’s payout ratio is 7.80%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on GM shares. StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Mizuho raised their price target on General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. JPMorgan Chase & Co. cut their price target on General Motors from $64.00 to $53.00 and set an “overweight” rating for the company in a research note on Thursday. HSBC downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price for the company. in a report on Wednesday, December 11th. Finally, Cowen started coverage on General Motors in a research note on Thursday, March 6th. They issued a “buy” rating on the stock. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $62.11.

General Motors Company 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.