Desjardins Global Asset Management Inc. Sells 48,667 Shares of General Motors (NYSE:GM)

Desjardins Global Asset Management Inc. reduced its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 28.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 122,107 shares of the auto manufacturer’s stock after selling 48,667 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in General Motors were worth $4,386,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Penserra Capital Management LLC lifted its holdings in 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 acquiring an additional 283 shares during the period. Highlander Capital Management LLC purchased a new stake in General Motors in the fourth quarter worth $27,000. SouthState Corp increased its position in General Motors by 173.8% in the third quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock worth $25,000 after buying an additional 485 shares during the last quarter. Tennessee Valley Asset Management Partners purchased a new stake in General Motors in the fourth quarter worth $36,000. Finally, BluePath Capital Management LLC purchased a new stake in General Motors in the third quarter worth $33,000. 92.67% of the stock is currently owned by institutional investors.

General Motors Stock Up 0.4 %

Shares of NYSE:GM traded up $0.15 during trading on Tuesday, hitting $42.84. The stock had a trading volume of 7,634,381 shares, compared to its average volume of 17,485,850. General Motors has a 12 month low of $26.30 and a 12 month high of $46.04. The company has a market capitalization of $49.46 billion, a PE ratio of 5.84, a PEG ratio of 0.53 and a beta of 1.51. The firm’s fifty day moving average is $41.33 and its 200 day moving average is $35.57. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 1.21.

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

General Motors Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Friday, March 1st were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.12%. This is an increase from General Motors’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, February 29th. General Motors’s dividend payout ratio (DPR) is currently 6.57%.

Analysts Set New Price Targets

GM has been the subject of a number of recent research reports. Redburn Atlantic initiated coverage on General Motors in a research report on Wednesday, January 24th. They issued a “neutral” rating and a $40.00 target price for the company. Wolfe Research upgraded General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective on the stock in a research note on Thursday, January 4th. TheStreet upgraded General Motors from a “c+” rating to a “b-” rating in a research note on Tuesday, March 19th. Morgan Stanley boosted their price objective on General Motors from $43.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10th. Finally, Piper Sandler began coverage on General Motors in a research note on Friday, March 15th. They set a “neutral” rating and a $44.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $51.57.

Insider Buying and Selling at General Motors

In other news, EVP Julian G. Blissett sold 13,826 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total value of $528,706.24. Following the transaction, the executive vice president now directly owns 87,567 shares in the company, valued at approximately $3,348,562.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CAO Christopher Hatto sold 15,510 shares of General Motors stock in a transaction 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 transaction, the chief accounting officer now directly owns 21,507 shares in the company, valued at $860,710.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Julian G. Blissett sold 13,826 shares of General Motors stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total value of $528,706.24. Following the transaction, the executive vice president now owns 87,567 shares in the company, valued at $3,348,562.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,248 shares of company stock worth $3,614,078. Insiders own 0.54% of the company’s stock.

General Motors Company 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.