Moors & Cabot Inc. reduced its stake in shares of General Motors (NYSE:GM – Get Rating) (TSE:GMM.U) by 20.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,205 shares of the auto manufacturer’s stock after selling 2,092 shares during the period. Moors & Cabot Inc.’s holdings in General Motors were worth $276,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Penserra Capital Management LLC boosted its holdings in General Motors by 85.8% in the first quarter. Penserra Capital Management LLC now owns 613 shares of the auto manufacturer’s stock worth $26,000 after purchasing an additional 283 shares in the last quarter. Elequin Securities LLC bought a new stake in General Motors in the fourth quarter worth $35,000. Affiance Financial LLC bought a new stake in General Motors in the fourth quarter worth $36,000. Rock Creek Group LP boosted its holdings in General Motors by 108.1% in the third quarter. Rock Creek Group LP now owns 1,384 shares of the auto manufacturer’s stock worth $44,000 after purchasing an additional 719 shares in the last quarter. Finally, Guardian Wealth Advisors LLC bought a new stake in General Motors in the third quarter worth $46,000. 78.92% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities research analysts have issued reports on GM shares. Barclays decreased their price target on shares of General Motors from $45.00 to $42.00 in a report on Wednesday, April 26th. Berenberg Bank cut shares of General Motors from a “buy” rating to a “hold” rating and decreased their price target for the company from $45.00 to $41.00 in a report on Monday, January 30th. Mizuho decreased their price target on shares of General Motors from $39.00 to $37.00 in a report on Wednesday, April 26th. Bank of America decreased their price target on shares of General Motors from $80.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, February 1st. Finally, Morgan Stanley upgraded shares of General Motors from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $35.00 to $38.00 in a report on Monday, May 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.06.
General Motors Stock Performance
General Motors (NYSE:GM – Get Rating) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, April 25th. The auto manufacturer reported $2.21 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.68. The company had revenue of $39.99 billion during the quarter, compared to analyst estimates of $39.38 billion. General Motors had a net margin of 5.84% and a return on equity of 15.74%. The company’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business posted $2.09 earnings per share. Research analysts anticipate that General Motors will post 6.68 earnings per share for the current fiscal year.
General Motors Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Friday, June 2nd will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Thursday, June 1st. General Motors’s payout ratio is 5.56%.
About General Motors
General Motors Co engages in the designing, manufacturing, and selling of trucks, crossovers, cars, and automobile parts and in providing software-enabled services and subscriptions. It operates through the following segments: GMNA, GMI, Cruise, and GM Financial. The company was founded by William C.
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