Cutter & CO Brokerage Inc. Sells 2,223 Shares of General Motors (NYSE:GM)

Cutter & CO Brokerage Inc. cut its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 35.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,075 shares of the auto manufacturer’s stock after selling 2,223 shares during the quarter. Cutter & CO Brokerage Inc.’s holdings in General Motors were worth $217,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Trust Point Inc. lifted its stake in shares of General Motors by 2.7% in the 4th quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer’s stock valued at $386,000 after purchasing an additional 193 shares during the last quarter. Allworth Financial LP lifted its position in General Motors by 2.3% in the third quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer’s stock worth $412,000 after buying an additional 205 shares during the last quarter. Avestar Capital LLC boosted its stake in General Motors by 2.3% during the third quarter. Avestar Capital LLC now owns 9,592 shares of the auto manufacturer’s stock worth $430,000 after buying an additional 213 shares during the period. Continuum Advisory LLC boosted its stake in General Motors by 7.9% during the third quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer’s stock worth $131,000 after buying an additional 213 shares during the period. Finally, Holistic Planning LLC increased its position in General Motors by 3.9% during the fourth quarter. Holistic Planning LLC now owns 5,759 shares of the auto manufacturer’s stock valued at $307,000 after acquiring an additional 214 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insiders Place Their Bets

In other news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the stock in a transaction on Thursday, January 30th. The stock was bought at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the purchase, the director now directly owns 13,714 shares in the company, valued at approximately $694,751.24. The trade was a 700.12 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.72% of the stock is currently owned by corporate insiders.

General Motors Price Performance

NYSE GM opened at $48.39 on Thursday. The company has a market cap of $48.14 billion, a PE ratio of 7.87, a P/E/G ratio of 0.67 and a beta of 1.40. The firm’s 50 day moving average price is $50.45 and its 200-day moving average price is $50.33. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. General Motors has a 52-week low of $38.94 and a 52-week high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. Sell-side analysts forecast that General Motors will post 11.44 EPS for the current fiscal year.

General Motors announced that its board has authorized a share buyback program on Wednesday, February 26th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be paid a $0.12 dividend. The ex-dividend date is Friday, March 7th. This represents a $0.48 annualized dividend and a yield of 0.99%. General Motors’s dividend payout ratio (DPR) is presently 7.80%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on GM shares. Hsbc Global Res lowered shares of General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. UBS Group reissued a “buy” rating on shares of General Motors in a research note on Monday, February 3rd. Deutsche Bank Aktiengesellschaft raised General Motors from a “hold” rating to a “buy” rating and upped their target price for the company from $56.00 to $60.00 in a research note on Tuesday, January 21st. Morgan Stanley raised General Motors from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $46.00 to $54.00 in a research note on Tuesday, December 10th. Finally, Mizuho upped their price objective on General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, General Motors presently has a consensus rating of “Hold” and a consensus price target of $59.71.

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.