Romano Brothers AND Company Reduces Stock Holdings in General Motors (NYSE:GM)

Romano Brothers AND Company lessened its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 11.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,927 shares of the auto manufacturer’s stock after selling 758 shares during the quarter. Romano Brothers AND Company’s holdings in General Motors were worth $213,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of GM. Norges Bank purchased a new stake in shares of General Motors in the 4th quarter valued at about $493,248,000. Price T Rowe Associates Inc. MD lifted its stake in General Motors by 80.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,687,738 shares of the auto manufacturer’s stock valued at $538,747,000 after buying an additional 6,548,022 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of General Motors by 454.3% in the third quarter. Acadian Asset Management LLC now owns 5,216,283 shares of the auto manufacturer’s stock valued at $171,961,000 after acquiring an additional 4,275,293 shares during the period. Renaissance Technologies LLC grew its position in shares of General Motors by 1,257.3% during the first quarter. Renaissance Technologies LLC now owns 2,368,500 shares of the auto manufacturer’s stock worth $103,598,000 after acquiring an additional 2,194,000 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of General Motors by 32.6% in the 3rd quarter. AQR Capital Management LLC now owns 8,326,682 shares of the auto manufacturer’s stock valued at $274,531,000 after acquiring an additional 2,049,412 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insider Activity at General Motors

In other news, EVP Julian G. Blissett sold 13,826 shares of General Motors stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total transaction of $528,706.24. Following the completion of the sale, the executive vice president now directly owns 87,567 shares in the company, valued at $3,348,562.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CAO Christopher Hatto sold 15,510 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $40.02, for a total value of $620,710.20. Following the sale, the chief accounting officer now directly owns 21,507 shares of the company’s stock, valued at $860,710.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Julian G. Blissett sold 13,826 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total transaction of $528,706.24. Following the transaction, the executive vice president now directly owns 87,567 shares of the company’s stock, valued at approximately $3,348,562.08. 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. 0.54% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on GM shares. Tigress Financial raised their price objective on shares of General Motors from $86.00 to $88.00 and gave the stock a “strong-buy” rating in a research report on Thursday, February 15th. Royal Bank of Canada boosted their price target on General Motors from $52.00 to $54.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. TheStreet raised General Motors from a “c+” rating to a “b-” rating in a research report on Tuesday, March 19th. The Goldman Sachs Group boosted their target price on General Motors from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Finally, Wolfe Research raised General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 price target for the company in a report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $51.57.

General Motors Stock Performance

Shares of GM stock opened at $43.08 on Monday. The stock has a fifty day moving average price of $41.23 and a 200 day moving average price of $35.50. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.90 and a current ratio of 1.08. The stock has a market cap of $49.73 billion, a PE ratio of 5.89, a P/E/G ratio of 0.53 and a beta of 1.51. 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 posted its earnings results 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. General Motors had a net margin of 5.89% and a return on equity of 14.34%. The firm had revenue of $42.98 billion during the quarter, compared to the consensus estimate of $38.81 billion. During the same period last year, the firm posted $2.12 EPS. The firm’s revenue for the quarter was down .3% on a year-over-year basis. Sell-side analysts forecast that General Motors will post 9.08 earnings per share for the current fiscal year.

General Motors Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Friday, March 1st were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Thursday, February 29th. This is a boost from General Motors’s previous quarterly dividend of $0.09. General Motors’s dividend payout ratio (DPR) is currently 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.