Gotham Asset Management LLC Sells 80,484 Shares of General Motors (NYSE:GM)

Gotham Asset Management LLC reduced its position in General Motors (NYSE:GM) (TSE:GMM.U) by 16.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 396,491 shares of the auto manufacturer’s stock after selling 80,484 shares during the period. Gotham Asset Management LLC’s holdings in General Motors were worth $21,121,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Trust Point Inc. raised its holdings in shares of General Motors by 2.7% during the 4th quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer’s stock worth $386,000 after acquiring an additional 193 shares in the last quarter. Holistic Planning LLC raised its stake in General Motors by 3.9% during the fourth quarter. Holistic Planning LLC now owns 5,759 shares of the auto manufacturer’s stock valued at $307,000 after purchasing an additional 214 shares in the last quarter. Nemes Rush Group LLC raised its stake in General Motors by 18.7% during the fourth quarter. Nemes Rush Group LLC now owns 1,379 shares of the auto manufacturer’s stock valued at $73,000 after purchasing an additional 217 shares in the last quarter. Operose Advisors LLC grew its stake in shares of General Motors by 18.7% in the 4th quarter. Operose Advisors LLC now owns 1,413 shares of the auto manufacturer’s stock worth $75,000 after buying an additional 223 shares in the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of General Motors by 0.4% in the 4th quarter. Bessemer Group Inc. now owns 53,619 shares of the auto manufacturer’s stock worth $2,856,000 after buying an additional 226 shares during the last quarter. 92.67% of the stock is owned by institutional investors.

General Motors Stock Up 0.3 %

Shares of NYSE:GM opened at $47.51 on Friday. The business’s 50 day moving average is $46.63 and its 200 day moving average is $50.10. The stock has a market cap of $45.68 billion, a P/E ratio of 7.73, a price-to-earnings-growth ratio of 0.67 and a beta of 1.36. General Motors has a 52-week low of $38.96 and a 52-week high of $61.24. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.63 by $0.15. General Motors had a return on equity of 15.29% and a net margin of 3.21%. The business had revenue of $44.02 billion for the quarter, compared to the consensus estimate of $42.64 billion. During the same quarter in the prior year, the company earned $2.62 EPS. The business’s revenue was up 2.3% compared to the same quarter last year. Sell-side analysts predict that General Motors will post 11.44 EPS for the current year.

General Motors Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Friday, June 6th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Friday, June 6th. This is a boost from General Motors’s previous quarterly dividend of $0.12. General Motors’s dividend payout ratio is presently 8.65%.

General Motors declared that its Board of Directors has approved a share repurchase program on Wednesday, February 26th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to reacquire up to 12.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Piper Sandler increased their price target on shares of General Motors from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, March 20th. Wells Fargo & Company restated an “underweight” rating on shares of General Motors in a research report on Monday, February 3rd. BNP Paribas upgraded General Motors to a “strong-buy” rating in a report on Monday, May 5th. Sanford C. Bernstein set a $36.00 price target on General Motors in a report on Monday. Finally, Mizuho dropped their price objective on shares of General Motors from $55.00 to $53.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, General Motors has a consensus rating of “Hold” and an average target price of $54.28.

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.