General Motors (NYSE:GM) Shares Sold by Perigon Wealth Management LLC

Perigon Wealth Management LLC lowered its position in General Motors (NYSE:GM) (TSE:GMM.U) by 34.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,243 shares of the auto manufacturer’s stock after selling 12,676 shares during the quarter. Perigon Wealth Management LLC’s holdings in General Motors were worth $871,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Penserra Capital Management LLC lifted its holdings in General Motors by 85.8% in the 1st quarter. Penserra Capital Management LLC now owns 613 shares of the auto manufacturer’s stock worth $26,000 after buying an additional 283 shares in the last quarter. VisionPoint Advisory Group LLC acquired a new position in General Motors in the 2nd quarter worth $25,000. Highlander Capital Management LLC acquired a new stake in shares of General Motors in the 4th quarter valued at about $27,000. SouthState Corp raised its stake in shares of General Motors by 173.8% in the 3rd quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock valued at $25,000 after purchasing an additional 485 shares in the last quarter. Finally, BluePath Capital Management LLC acquired a new stake in shares of General Motors in the 3rd quarter valued at about $33,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Gerald Johnson sold 27,122 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the transaction, the executive vice president now owns 71,506 shares in the company, valued at approximately $3,236,361.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Gerald Johnson sold 27,122 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the transaction, the executive vice president now owns 71,506 shares in the company, valued at approximately $3,236,361.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Christopher Hatto sold 3,500 shares of the 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 transaction, the chief accounting officer now owns 12,007 shares in the company, valued at approximately $540,315. The disclosure for this sale can be found here. Insiders sold a total of 86,248 shares of company stock worth $3,614,078 in the last quarter. 0.54% of the stock is currently owned by corporate insiders.

General Motors Price Performance

NYSE GM opened at $43.08 on Friday. General Motors has a 52 week low of $26.30 and a 52 week high of $46.04. 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 market cap of $49.73 billion, a price-to-earnings ratio of 5.89, a price-to-earnings-growth ratio of 0.53 and a beta of 1.51. The company has a 50-day moving average price of $41.23 and a two-hundred day moving average price of $35.48.

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

General Motors Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Friday, March 1st were given a $0.12 dividend. This is an increase from General Motors’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.48 dividend on an annualized basis and a yield of 1.11%. General Motors’s dividend payout ratio is presently 6.57%.

Analyst Ratings Changes

GM has been the topic of a number of recent analyst reports. Mizuho upped their target price on shares of General Motors from $44.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, March 25th. Wedbush upped their target price on shares of General Motors from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Wolfe Research upgraded shares of General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a research note on Thursday, January 4th. Piper Sandler initiated coverage on shares of General Motors in a research note on Friday, March 15th. They issued a “neutral” rating and a $44.00 target price on the stock. Finally, Tigress Financial upped their target price on shares of General Motors from $86.00 to $88.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, General Motors currently has a consensus rating of “Moderate Buy” and an average target price of $51.57.

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.