General Motors (NYSE:GM) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC reduced 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 & Exchange Commission. The institutional investor owned 266,189 shares of the auto manufacturer’s stock after selling 13,513 shares during the quarter. Corient Private Wealth LLC’s holdings in General Motors were worth $9,562,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Highlander Capital Management LLC acquired a new position in General Motors in the 4th quarter valued at $27,000. SouthState Corp grew its position in shares of General Motors by 173.8% in the third quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock valued at $25,000 after purchasing an additional 485 shares during the period. Sachetta LLC acquired a new position in General Motors in the fourth quarter valued at $33,000. Bfsg LLC purchased a new position in General Motors during the fourth quarter worth about $35,000. Finally, Tennessee Valley Asset Management Partners acquired a new stake in General Motors in the 4th quarter worth about $36,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Price Performance

GM opened at $44.11 on Friday. General Motors has a twelve month low of $26.30 and a twelve month high of $46.17. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 1.22. The firm has a market cap of $50.33 billion, a price-to-earnings ratio of 5.39, a PEG ratio of 0.51 and a beta of 1.49. The company has a fifty day simple moving average of $44.30 and a 200 day simple moving average of $38.54.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.60. The company had revenue of $43.01 billion during the quarter, compared to the consensus estimate of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The company’s revenue was up 7.6% on a year-over-year basis. During the same period last year, the firm earned $2.21 earnings per share. Equities research analysts expect that General Motors will post 9.4 EPS for the current fiscal year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, June 7th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Friday, June 7th. General Motors’s payout ratio is currently 5.87%.

Insider Buying and Selling

In other General Motors news, CAO Christopher Hatto sold 15,510 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $40.02, for a total transaction of $620,710.20. Following the transaction, the chief accounting officer now directly owns 21,507 shares in the company, valued at approximately $860,710.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other General Motors news, CAO Christopher Hatto sold 15,510 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $40.02, for a total transaction of $620,710.20. Following the sale, the chief accounting officer now owns 21,507 shares in the company, valued at $860,710.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Rory Harvey sold 5,100 shares of General Motors stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $43.04, for a total value of $219,504.00. Following the completion of the transaction, the executive vice president now owns 12,658 shares of the company’s stock, valued at approximately $544,800.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,422 shares of company stock worth $3,085,372. Insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Citigroup increased their price objective on shares of General Motors from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a research note on Friday. Wedbush lifted their price target on shares of General Motors from $45.00 to $55.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. TheStreet upgraded General Motors from a “c+” rating to a “b-” rating in a report on Tuesday, March 19th. Finally, Mizuho lifted their target price on General Motors from $48.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $54.65.

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.