Natixis Advisors LLC increased its stake in shares of General Motors Company (NYSE:GM – Free Report) (TSE:GMM.U) by 6.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 976,099 shares of the auto manufacturer’s stock after purchasing an additional 58,516 shares during the period. Natixis Advisors LLC owned approximately 0.11% of General Motors worth $79,377,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Laurel Wealth Advisors LLC purchased a new stake in General Motors during the fourth quarter valued at approximately $25,000. Elevation Wealth Partners LLC increased its holdings in General Motors by 500.0% during the fourth quarter. Elevation Wealth Partners LLC now owns 330 shares of the auto manufacturer’s stock valued at $27,000 after buying an additional 275 shares during the last quarter. Kelleher Financial Advisors purchased a new stake in General Motors during the third quarter valued at approximately $29,000. Founders Capital Management purchased a new stake in General Motors during the fourth quarter valued at approximately $31,000. Finally, JPL Wealth Management LLC purchased a new stake in General Motors during the third quarter valued at approximately $32,000. 92.67% of the stock is owned by hedge funds and other institutional investors.
General Motors Stock Performance
Shares of NYSE GM opened at $81.87 on Wednesday. The firm has a fifty day moving average price of $77.11 and a 200-day moving average price of $78.20. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.15 and a quick ratio of 0.99. The stock has a market cap of $73.82 billion, a PE ratio of 33.01, a price-to-earnings-growth ratio of 0.42 and a beta of 1.30. General Motors Company has a 1 year low of $46.81 and a 1 year high of $87.62.
General Motors Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, June 5th will be given a dividend of $0.18 per share. The ex-dividend date is Friday, June 5th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. General Motors’s dividend payout ratio is currently 29.03%.
Trending Headlines about General Motors
Here are the key news stories impacting General Motors this week:
- Negative Sentiment: A strike at a key GM supplier is threatening truck production, raising the risk of lost output for some of GM’s most profitable models. UAW calls for a midnight strike at GM pickup truck axle supplier
- Negative Sentiment: Reuters and CNBC reported that nearly 1,000 workers have gone on strike at the supplier plant, reinforcing worries about supply-chain disruption for GM trucks. UAW union strike threatens General Motors truck production
- Negative Sentiment: GM also disclosed insider selling by CEO Mary T. Barra, CAO Christopher Hatto, and EVP Rory Harvey, which can add to investor caution even though the trades were pre-arranged under 10b5-1 plans. Mary T. Barra insider trade
Insider Buying and Selling
In related news, CAO Christopher Hatto sold 6,895 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $85.00, for a total transaction of $586,075.00. Following the completion of the transaction, the chief accounting officer owned 25,794 shares in the company, valued at approximately $2,192,490. This represents a 21.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Rory Harvey sold 79,494 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $83.02, for a total transaction of $6,599,591.88. Following the transaction, the executive vice president owned 46,519 shares of the company’s stock, valued at approximately $3,862,007.38. This represents a 63.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 577,567 shares of company stock worth $47,557,888. 0.54% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of analysts have commented on the stock. Wedbush reaffirmed an “outperform” rating and set a $95.00 target price on shares of General Motors in a report on Monday, May 11th. Benchmark upped their target price on shares of General Motors from $65.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. Deutsche Bank Aktiengesellschaft raised shares of General Motors from a “hold” rating to a “buy” rating and upped their target price for the company from $83.00 to $90.00 in a report on Tuesday, April 14th. Citigroup increased their price objective on shares of General Motors from $108.00 to $131.00 and gave the stock a “buy” rating in a research note on Monday. Finally, The Goldman Sachs Group reduced their price objective on shares of General Motors from $104.00 to $91.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $95.65.
Read Our Latest Research Report on GM
General Motors Profile
General Motors Company (NYSE: GM) is a global automotive manufacturer headquartered in Detroit, Michigan, that designs, builds and sells cars, trucks, crossovers and electric vehicles, and provides related parts and services. Founded in 1908, GM has long been one of the world’s largest automakers and has evolved into a multi-brand company whose primary marques include Chevrolet, GMC, Cadillac and Buick. Beyond vehicle manufacturing, GM’s operations encompass vehicle financing, connected services and advanced mobility initiatives.
GM develops and markets a broad portfolio of products and technologies, including internal-combustion and battery-electric vehicles, vehicle components and on-board connectivity services.
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