General Motors (NYSE:GM) Shares Sold by Symmetry Partners LLC

Symmetry Partners LLC reduced its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 14.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,178 shares of the auto manufacturer’s stock after selling 1,904 shares during the quarter. Symmetry Partners LLC’s holdings in General Motors were worth $519,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of GM. LifeSteps Financial Inc. bought a new stake in shares of General Motors during the first quarter valued at about $25,000. Fortitude Family Office LLC raised its position in General Motors by 56.1% in the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after acquiring an additional 225 shares in the last quarter. Cape Investment Advisory Inc. raised its position in General Motors by 75.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after acquiring an additional 359 shares in the last quarter. Montag A & Associates Inc. bought a new stake in General Motors in the first quarter worth about $30,000. Finally, YHB Investment Advisors Inc. bought a new stake in General Motors in the first quarter worth about $32,000. 92.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Barclays boosted their price target on shares of General Motors from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Citigroup lifted their price target on General Motors from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. JPMorgan Chase & Co. lifted their price target on General Motors from $60.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, Piper Sandler lifted their price target on General Motors from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.27.

Insider Transactions at General Motors

In other news, President Mark L. Reuss sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the transaction, the president now directly owns 176,907 shares in the company, valued at $7,684,840.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Mary T. Barra sold 626,316 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $43.46, for a total value of $27,219,693.36. Following the transaction, the chief executive officer now directly owns 1,198,648 shares in the company, valued at $52,093,242.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Mark L. Reuss sold 150,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the completion of the transaction, the president now owns 176,907 shares in the company, valued at $7,684,840.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,152,621 shares of company stock worth $51,818,111. Insiders own 0.72% of the company’s stock.

General Motors Stock Performance

Shares of NYSE GM traded up $0.81 during trading hours on Friday, reaching $43.54. The stock had a trading volume of 9,570,999 shares, compared to its average volume of 15,976,860. The business’s fifty day moving average is $46.21 and its two-hundred day moving average is $43.39. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99. The company has a market cap of $49.68 billion, a price-to-earnings ratio of 5.26, a PEG ratio of 0.44 and a beta of 1.43. General Motors has a twelve month low of $26.30 and a twelve month high of $50.50.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $0.39. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The firm had revenue of $47.97 billion for the quarter, compared to analysts’ expectations of $45.13 billion. During the same period in the prior year, the business posted $1.91 earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year. As a group, research analysts expect that General Motors will post 9.94 EPS for the current year.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Friday, September 6th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Friday, September 6th. General Motors’s dividend payout ratio (DPR) is 5.87%.

General Motors announced that its Board of Directors has initiated a stock buyback program on Tuesday, June 11th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the auto manufacturer to buy up to 10.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

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.