Naples Money Management LLC Acquires New Position in General Motors (NYSE:GM)

Naples Money Management LLC bought a new stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 2,241 shares of the auto manufacturer’s stock, valued at approximately $80,000.

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

Insider Activity at General Motors

In related news, CAO Christopher Hatto sold 15,510 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $40.02, for a total value of $620,710.20. Following the sale, the chief accounting officer now directly owns 21,507 shares in the company, valued at approximately $860,710.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Gerald Johnson sold 27,122 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the completion of the sale, the executive vice president now directly owns 71,506 shares of the company’s stock, valued at approximately $3,236,361.56. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Christopher Hatto sold 15,510 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $40.02, for a total value of $620,710.20. Following the sale, the chief accounting officer now directly owns 21,507 shares of the company’s stock, valued at $860,710.14. The disclosure for this sale can be found here. Insiders have sold 86,248 shares of company stock worth $3,614,078 in the last ninety days. Company insiders own 0.54% of the company’s stock.

General Motors Trading Down 0.2 %

General Motors stock traded down $0.06 during trading hours on Friday, reaching $42.38. 15,506,288 shares of the company’s stock traded hands, compared to its average volume of 17,394,033. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.90 and a current ratio of 1.08. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $46.04. The firm has a market capitalization of $48.92 billion, a price-to-earnings ratio of 5.85, a PEG ratio of 0.52 and a beta of 1.51. The firm’s 50 day moving average is $41.57 and its 200-day moving average is $35.73.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, January 30th. The auto manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.08. General Motors had a net margin of 5.89% and a return on equity of 14.34%. The company had revenue of $42.98 billion for the quarter, compared to the consensus estimate of $38.81 billion. During the same period in the prior year, the company posted $2.12 EPS. The company’s revenue was down .3% compared to the same quarter last year. On average, analysts predict that General Motors will post 9.12 earnings per share for the current year.

General Motors Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Friday, March 1st were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.13%. This is an increase from General Motors’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, February 29th. General Motors’s dividend payout ratio (DPR) is currently 6.57%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GM. Piper Sandler began coverage on shares of General Motors in a report on Friday, March 15th. They issued a “neutral” rating and a $44.00 target price on the stock. The Goldman Sachs Group upped their target price on shares of General Motors from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. TheStreet raised shares of General Motors from a “c+” rating to a “b-” rating in a report on Tuesday, March 19th. Barclays upped their target price on shares of General Motors from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Finally, Royal Bank of Canada upped their target price on shares of General Motors from $52.00 to $54.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.57.

About General Motors

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.