Bleakley Financial Group LLC Sells 3,811 Shares of General Motors (NYSE:GM)

Bleakley Financial Group LLC reduced its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 18.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,897 shares of the auto manufacturer’s stock after selling 3,811 shares during the quarter. Bleakley Financial Group LLC’s holdings in General Motors were worth $607,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of General Motors by 1.4% in the third quarter. Vanguard Group Inc. now owns 111,460,756 shares of the auto manufacturer’s stock valued at $3,674,861,000 after purchasing an additional 1,580,681 shares during the last quarter. State Street Corp increased its holdings in shares of General Motors by 0.7% in the first quarter. State Street Corp now owns 56,981,032 shares of the auto manufacturer’s stock valued at $2,090,060,000 after purchasing an additional 383,957 shares during the last quarter. Morgan Stanley increased its holdings in shares of General Motors by 1.3% in the third quarter. Morgan Stanley now owns 15,212,672 shares of the auto manufacturer’s stock valued at $501,562,000 after purchasing an additional 201,080 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of General Motors by 80.4% in the first 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 during the last quarter. Finally, Norges Bank acquired a new position in shares of General Motors in the fourth quarter valued at $493,248,000. 92.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GM. Wedbush upped their price target on shares of General Motors from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Redburn Atlantic began coverage on shares of General Motors in a research note on Wednesday, January 24th. They issued a “neutral” rating and a $40.00 price target on the stock. Royal Bank of Canada upped their price target on shares of General Motors from $52.00 to $54.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Mizuho upped their price target on shares of General Motors from $44.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, March 25th. Finally, Tigress Financial upped their price target on shares of General Motors from $86.00 to $88.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $51.57.

General Motors Stock Down 1.7 %

GM stock opened at $43.08 on Friday. The stock has a market capitalization of $49.73 billion, a P/E ratio of 5.89, a price-to-earnings-growth ratio of 0.54 and a beta of 1.51. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 1.21. General Motors has a 12 month low of $26.30 and a 12 month high of $46.04. The firm has a 50-day moving average price of $41.23 and a 200-day moving average price of $35.48.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, January 30th. The auto manufacturer reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.08. The firm had revenue of $42.98 billion during the quarter, compared to analysts’ expectations of $38.81 billion. General Motors had a net margin of 5.89% and a return on equity of 14.34%. The business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.12 earnings per share. As a group, equities research analysts anticipate that General Motors will post 9.08 EPS for the current fiscal year.

General Motors Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Friday, March 1st were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Thursday, February 29th. This is a positive change from General Motors’s previous quarterly dividend of $0.09. General Motors’s dividend payout ratio (DPR) is 6.57%.

Insider Activity at General Motors

In related news, CAO Christopher Hatto sold 15,510 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $40.02, for a total value of $620,710.20. Following the completion of the transaction, the chief accounting officer now owns 21,507 shares in the company, valued at approximately $860,710.14. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CAO Christopher Hatto sold 15,510 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $40.02, for a total value of $620,710.20. Following the completion of the transaction, the chief accounting officer now owns 21,507 shares in the company, valued at approximately $860,710.14. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Gerald Johnson sold 27,122 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the sale, the executive vice president now directly owns 71,506 shares of the company’s stock, valued at approximately $3,236,361.56. The disclosure for this sale can be found here. Insiders sold a total of 86,248 shares of company stock worth $3,614,078 in the last quarter. 0.54% of the stock is owned by insiders.

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.