BTC Capital Management Inc. Has $6.46 Million Position in General Motors (NYSE:GM)

BTC Capital Management Inc. lessened its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 121,407 shares of the auto manufacturer’s stock after selling 2,723 shares during the period. BTC Capital Management Inc.’s holdings in General Motors were worth $6,458,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of GM. Strategic Investment Solutions Inc. IL purchased a new stake in General Motors in the 2nd quarter worth approximately $25,000. Crews Bank & Trust acquired a new position in shares of General Motors in the fourth quarter worth $26,000. Catalyst Capital Advisors LLC purchased a new stake in shares of General Motors during the third quarter worth $27,000. Truvestments Capital LLC acquired a new stake in General Motors during the third quarter valued at $27,000. Finally, Sugar Maple Asset Management LLC purchased a new position in General Motors in the fourth quarter valued at about $31,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Buying and Selling at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the stock in a transaction on Thursday, January 30th. The stock was bought at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the acquisition, the director now directly owns 13,714 shares of the company’s stock, valued at $694,751.24. The trade was a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Rory Harvey sold 8,919 shares of General Motors stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $60.01, for a total value of $535,229.19. Following the transaction, the executive vice president now owns 8,513 shares in the company, valued at $510,865.13. This trade represents a 51.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 514,344 shares of company stock valued at $28,977,691. 0.72% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

GM has been the subject of several analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Hsbc Global Res cut General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Wedbush increased their price objective on General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Mizuho boosted their target price on General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Finally, Wells Fargo & Company lifted their price target on shares of General Motors from $35.00 to $37.00 and gave the company an “underweight” rating in a research report on Wednesday. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $61.28.

General Motors Price Performance

Shares of GM stock opened at $49.39 on Friday. General Motors has a 1 year low of $37.60 and a 1 year high of $61.24. The company has a current ratio of 1.13, a quick ratio of 1.03 and a debt-to-equity ratio of 1.38. The firm’s 50 day moving average is $52.82 and its 200-day moving average is $49.95. The firm has a market capitalization of $49.15 billion, a price-to-earnings ratio of 8.03, a PEG ratio of 0.28 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. Sell-side analysts forecast that General Motors will post 11.45 EPS for the current fiscal year.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 0.97%. General Motors’s dividend payout ratio is presently 7.80%.

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.