General Motors (GM) Position Reduced by Hodges Capital Management Inc.

Hodges Capital Management Inc. lessened its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 8.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,920 shares of the auto manufacturer’s stock after selling 1,363 shares during the quarter. Hodges Capital Management Inc.’s holdings in General Motors were worth $554,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Signet Investment Advisory Group Inc. acquired a new position in General Motors in the fourth quarter valued at $26,000. NuWave Investment Management LLC boosted its stake in General Motors by 198.6% in the fourth quarter. NuWave Investment Management LLC now owns 884 shares of the auto manufacturer’s stock valued at $30,000 after acquiring an additional 588 shares in the last quarter. Cornerstone Advisors Inc. boosted its stake in General Motors by 63.0% in the fourth quarter. Cornerstone Advisors Inc. now owns 895 shares of the auto manufacturer’s stock valued at $30,000 after acquiring an additional 346 shares in the last quarter. Advisors Preferred LLC acquired a new position in General Motors in the fourth quarter valued at $31,000. Finally, Liberty Wealth Management LLC acquired a new position in General Motors in the fourth quarter valued at $30,000. 77.58% of the stock is currently owned by hedge funds and other institutional investors.

Shares of GM opened at $39.66 on Wednesday. General Motors has a fifty-two week low of $30.56 and a fifty-two week high of $45.00. The stock has a market cap of $55.77 billion, a PE ratio of 6.06, a price-to-earnings-growth ratio of 0.69 and a beta of 1.27. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.92 and a quick ratio of 0.80.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Wednesday, February 6th. The auto manufacturer reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.22. General Motors had a net margin of 5.45% and a return on equity of 23.99%. The business had revenue of $38.40 billion during the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter in the prior year, the firm earned $1.65 earnings per share. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, sell-side analysts anticipate that General Motors will post 6.48 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a $0.38 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.52 dividend on an annualized basis and a yield of 3.83%. General Motors’s payout ratio is currently 23.24%.

Several equities analysts have issued reports on GM shares. Barclays restated a “buy” rating and issued a $49.00 price objective on shares of General Motors in a research note on Monday, January 14th. BMO Capital Markets upgraded shares of General Motors from a “market perform” rating to an “outperform” rating in a research note on Monday, January 7th. Citigroup increased their target price on shares of General Motors to $67.00 and gave the stock a “buy” rating in a research note on Friday, February 8th. Buckingham Research set a $34.00 target price on shares of General Motors and gave the stock a “hold” rating in a research note on Friday, January 11th. Finally, Royal Bank of Canada increased their target price on shares of General Motors from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, January 14th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. General Motors has a consensus rating of “Buy” and a consensus price target of $47.20.

In related news, insider Alan S. Batey sold 70,266 shares of the firm’s stock in a transaction dated Monday, February 11th. The shares were sold at an average price of $38.39, for a total value of $2,697,511.74. Following the completion of the sale, the insider now owns 205,906 shares in the company, valued at $7,904,731.34. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Christopher Hatto sold 8,499 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $40.00, for a total transaction of $339,960.00. Following the completion of the sale, the vice president now owns 10,040 shares of the company’s stock, valued at approximately $401,600. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,521 shares of company stock valued at $4,337,346. 0.39% of the stock is owned by insiders.

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General Motors Profile

General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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