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

Desjardins Global Asset Management Inc. reduced its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 28.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 122,107 shares of the auto manufacturer’s stock after selling 48,667 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in General Motors were worth $4,386,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GM. SouthState Corp grew its position in General Motors by 173.8% during the 3rd quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock worth $25,000 after purchasing an additional 485 shares during the period. Penserra Capital Management LLC grew its position in shares of General Motors by 85.8% during the 1st quarter. Penserra Capital Management LLC now owns 613 shares of the auto manufacturer’s stock valued at $26,000 after acquiring an additional 283 shares during the period. Highlander Capital Management LLC acquired a new stake in shares of General Motors during the 4th quarter valued at about $27,000. BluePath Capital Management LLC acquired a new stake in shares of General Motors during the 3rd quarter valued at about $33,000. Finally, Tennessee Valley Asset Management Partners acquired a new stake in shares of General Motors during the 4th quarter valued at about $36,000. 92.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Royal Bank of Canada raised their target price on General Motors from $52.00 to $54.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. The Goldman Sachs Group raised their target price on General Motors from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Piper Sandler began coverage on General Motors in a research report on Friday, March 15th. They set a “neutral” rating and a $44.00 target price on the stock. Morgan Stanley lifted their price objective on General Motors from $43.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, April 10th. Finally, Barclays lifted their price objective on General Motors from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.57.

General Motors Price Performance

GM traded up $0.15 during trading on Tuesday, reaching $42.84. The company’s stock had a trading volume of 7,634,381 shares, compared to its average volume of 17,485,850. The company has a market cap of $49.46 billion, a price-to-earnings ratio of 5.84, a PEG ratio of 0.53 and a beta of 1.51. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 1.21. The firm has a fifty day simple moving average of $41.33 and a two-hundred day simple moving average of $35.57. General Motors has a 1 year low of $26.30 and a 1 year high of $46.04.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, January 30th. The auto manufacturer reported $1.24 EPS for the quarter, beating the consensus estimate of $1.16 by $0.08. The firm had revenue of $42.98 billion for the quarter, compared to analyst estimates 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 previous year, the company earned $2.12 EPS. As a group, analysts anticipate that General Motors will post 9.08 EPS for the current year.

General Motors Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Friday, March 1st were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend was Thursday, February 29th. This is a positive change from General Motors’s previous quarterly dividend of $0.09. General Motors’s payout ratio is presently 6.57%.

Insider Activity

In other news, EVP Rory Harvey sold 5,100 shares of General Motors stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $43.04, for a total transaction of $219,504.00. Following the sale, the executive vice president now owns 12,658 shares of the company’s stock, valued at approximately $544,800.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total value of $528,706.24. Following the sale, the executive vice president now owns 87,567 shares of the company’s stock, valued at $3,348,562.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Rory Harvey sold 5,100 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $43.04, for a total value of $219,504.00. Following the completion of the sale, the executive vice president now directly owns 12,658 shares in the company, valued at approximately $544,800.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 86,248 shares of company stock valued at $3,614,078. 0.54% of the stock is currently owned by company 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.