General Motors (NYSE:GM) Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC reduced its position in General Motors (NYSE:GM) (TSE:GMM.U) by 22.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 64,741 shares of the auto manufacturer’s stock after selling 19,000 shares during the quarter. DAVENPORT & Co LLC’s holdings in General Motors were worth $3,449,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Crews Bank & Trust purchased a new stake in shares of General Motors in the 4th quarter worth about $26,000. Catalyst Capital Advisors LLC purchased a new stake in General Motors during the third quarter valued at about $27,000. Truvestments Capital LLC purchased a new stake in shares of General Motors in the third quarter worth about $27,000. Sugar Maple Asset Management LLC purchased a new stake in shares of General Motors in the fourth quarter worth about $31,000. Finally, Eastern Bank acquired a new position in shares of General Motors in the third quarter worth about $34,000. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Trading Down 3.1 %

NYSE:GM opened at $47.90 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $47.66 billion, a price-to-earnings ratio of 7.79, a PEG ratio of 0.69 and a beta of 1.42. The firm has a fifty day simple moving average of $52.64 and a two-hundred day simple moving average of $49.95. General Motors has a 12 month low of $37.60 and a 12 month high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. Analysts expect that General Motors will post 11.41 EPS for the current fiscal year.

General Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s dividend payout ratio is currently 7.80%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Morgan Stanley upgraded General Motors from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $46.00 to $54.00 in a research note on Tuesday, December 10th. Royal Bank of Canada increased their price objective on General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Hsbc Global Res lowered General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Sanford C. Bernstein increased their price target on General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. Finally, Barclays raised their price objective on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has assigned 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.

Insider Activity

In other General Motors news, EVP Rory Harvey sold 8,919 shares of the business’s 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 directly owns 8,513 shares in the company, valued at $510,865.13. The trade was a 51.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alfred F. Kelly, Jr. bought 12,000 shares of the company’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 completion of the purchase, the director now owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. The trade was a 700.12 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 514,344 shares of company stock worth $28,977,691 over the last three months. 0.72% of the stock is currently owned by 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.