Mutual of America Capital Management LLC Sells 9,266 Shares of General Motors (NYSE:GM)

Mutual of America Capital Management LLC decreased its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 4.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 183,498 shares of the auto manufacturer’s stock after selling 9,266 shares during the quarter. Mutual of America Capital Management LLC’s holdings in General Motors were worth $6,591,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in GM. VisionPoint Advisory Group LLC acquired a new stake in shares of General Motors during the second quarter worth about $25,000. SouthState Corp raised its position in shares of General Motors by 173.8% during the third quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock worth $25,000 after purchasing an additional 485 shares during the period. Penserra Capital Management LLC raised its position in shares of General Motors by 85.8% during the first quarter. Penserra Capital Management LLC now owns 613 shares of the auto manufacturer’s stock worth $26,000 after purchasing an additional 283 shares during the period. Highlander Capital Management LLC acquired a new stake in General Motors in the 4th quarter valued at approximately $27,000. Finally, BluePath Capital Management LLC acquired a new stake in General Motors in the 3rd quarter valued at approximately $33,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insider Transactions at General Motors

In related news, CAO Christopher Hatto sold 3,500 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $45.00, for a total transaction of $157,500.00. Following the sale, the chief accounting officer now owns 12,007 shares in the company, valued at approximately $540,315. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other General Motors news, CAO Christopher Hatto sold 3,500 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $45.00, for a total value of $157,500.00. Following the sale, the chief accounting officer now owns 12,007 shares in the company, valued at approximately $540,315. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Gerald Johnson sold 27,122 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $45.26, for a total value of $1,227,541.72. Following the completion of the sale, the executive vice president now owns 71,506 shares in the company, valued at approximately $3,236,361.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 86,248 shares of company stock valued at $3,614,078. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GM. Royal Bank of Canada lifted their target price on General Motors from $52.00 to $54.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Redburn Atlantic began coverage on General Motors in a research report on Wednesday, January 24th. They issued a “neutral” rating and a $40.00 target price on the stock. Barclays lifted their target price on General Motors from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Thursday. Wedbush raised their price target on General Motors from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Finally, Morgan Stanley raised their price target on General Motors from $43.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $51.57.

General Motors Stock Performance

NYSE:GM opened at $43.08 on Friday. The stock has a market cap of $49.73 billion, a P/E ratio of 5.89, a PEG ratio of 0.54 and a beta of 1.51. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 1.21. The stock has a 50 day simple moving average of $41.23 and a 200 day simple moving average of $35.46. General Motors has a 1-year low of $26.30 and a 1-year high of $46.04.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, January 30th. The auto manufacturer reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.08. The firm had revenue of $42.98 billion during the quarter, compared to analysts’ expectations of $38.81 billion. General Motors had a return on equity of 14.34% and a net margin of 5.89%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.12 EPS. Research analysts anticipate that General Motors will post 9.08 earnings per share for the current year.

General Motors Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Friday, March 1st were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.11%. This is a boost from General Motors’s previous quarterly dividend of $0.09. General Motors’s payout ratio is 6.57%.

General Motors 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.