General Motors (NYSE:GM) Shares Sold by Cidel Asset Management Inc.

Cidel Asset Management Inc. lessened its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 13.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 27,956 shares of the auto manufacturer’s stock after selling 4,275 shares during the quarter. Cidel Asset Management Inc.’s holdings in General Motors were worth $1,489,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of GM. Golden State Wealth Management LLC acquired a new stake in General Motors in the 4th quarter worth approximately $25,000. Crews Bank & Trust purchased a new position in shares of General Motors in the fourth quarter worth $26,000. Catalyst Capital Advisors LLC acquired a new stake in shares of General Motors during the third quarter worth $27,000. Truvestments Capital LLC purchased a new stake in shares of General Motors during the third quarter valued at $27,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of General Motors in the 4th quarter valued at $28,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Activity

In other General Motors news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the business’s stock in a transaction on Thursday, January 30th. The stock was bought at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the acquisition, the director now owns 13,714 shares in the company, valued at approximately $694,751.24. The trade was a 700.12 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Rory Harvey sold 8,919 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was 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 approximately $510,865.13. This represents a 51.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GM. Wedbush lifted their price target on General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Mizuho upped their target price on General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Sanford C. Bernstein increased their price target on shares of General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a report on Friday, October 25th. UBS Group lifted their price objective on shares of General Motors from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Morgan Stanley upgraded shares of General Motors from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $46.00 to $54.00 in a research note on Tuesday, December 10th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $61.28.

General Motors Price Performance

General Motors stock opened at $47.35 on Friday. The stock has a market capitalization of $47.12 billion, a P/E ratio of 7.70, a P/E/G ratio of 0.69 and a beta of 1.40. The company’s fifty day moving average price is $51.96 and its 200 day moving average price is $49.91. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. General Motors has a 1 year low of $37.83 and a 1 year high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its 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 net margin of 3.21% and a return on equity of 15.29%. As a group, equities research analysts anticipate that General Motors will post 11.41 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.01%. General Motors’s payout ratio is currently 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.