General Motors (NYSE:GM) Shares Sold by Simplicity Solutions LLC

Simplicity Solutions LLC cut its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 13.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,724 shares of the auto manufacturer’s stock after selling 3,832 shares during the quarter. Simplicity Solutions LLC’s holdings in General Motors were worth $888,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in GM. Norges Bank acquired a new stake in General Motors during the 4th quarter worth approximately $493,248,000. Price T Rowe Associates Inc. MD raised its holdings in shares of General Motors by 80.4% in the 1st 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 purchasing an additional 6,548,022 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of General Motors by 454.3% in the 3rd quarter. Acadian Asset Management LLC now owns 5,216,283 shares of the auto manufacturer’s stock valued at $171,961,000 after purchasing an additional 4,275,293 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of General Motors by 1,257.3% in the 1st quarter. Renaissance Technologies LLC now owns 2,368,500 shares of the auto manufacturer’s stock valued at $103,598,000 after purchasing an additional 2,194,000 shares in the last quarter. Finally, AQR Capital Management LLC raised 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 purchasing an additional 2,049,412 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Trading Down 0.1 %

Shares of General Motors stock opened at $42.65 on Wednesday. General Motors has a 1 year low of $26.30 and a 1 year high of $46.04. 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 company has a market capitalization of $49.24 billion, a P/E ratio of 5.83, a PEG ratio of 0.53 and a beta of 1.51. The company’s fifty day moving average is $41.42 and its two-hundred day moving average is $35.64.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, January 30th. The auto manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping 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 company had revenue of $42.98 billion for the quarter, compared to the consensus estimate of $38.81 billion. During the same period last year, the firm posted $2.12 EPS. General Motors’s revenue for the quarter was down .3% on a year-over-year basis. Analysts forecast that General Motors will post 9.08 earnings per share for the current year.

General Motors Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Friday, March 1st were issued a $0.12 dividend. This is an increase from General Motors’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, February 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.13%. General Motors’s payout ratio is presently 6.57%.

Insider Activity

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 value of $528,706.24. Following the sale, the executive vice president now owns 87,567 shares of the company’s stock, valued at $3,348,562.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CAO Christopher Hatto sold 3,500 shares of General Motors stock in a transaction dated Thursday, March 28th. The shares were 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 of the company’s stock, valued at $540,315. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Julian G. Blissett sold 13,826 shares of the firm’s 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 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. Insiders have sold a total of 86,248 shares of company stock valued at $3,614,078 over the last quarter. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley raised their price objective on shares of General Motors from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, April 10th. Tigress Financial raised their price objective on shares of General Motors from $86.00 to $88.00 and gave the company a “strong-buy” rating in a report on Thursday, February 15th. Barclays raised their price objective on shares of General Motors from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Redburn Atlantic assumed coverage on shares of General Motors in a research note on Wednesday, January 24th. They set a “neutral” rating and a $40.00 price target on the stock. Finally, The Goldman Sachs Group lifted their price target on shares of General Motors from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.57.

About General Motors

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.