Hartford Investment Management Co. Decreases Position in General Motors (NYSE:GM)

Hartford Investment Management Co. decreased its position in General Motors (NYSE:GM) (TSE:GMM.U) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 67,995 shares of the auto manufacturer’s stock after selling 3,144 shares during the period. Hartford Investment Management Co.’s holdings in General Motors were worth $3,622,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of GM. Golden State Wealth Management LLC bought a new stake in shares of General Motors in the fourth quarter valued at approximately $25,000. Crews Bank & Trust purchased a new position in General Motors in the 4th quarter valued at approximately $26,000. Catalyst Capital Advisors LLC bought a new stake in General Motors during the 3rd quarter valued at $27,000. Truvestments Capital LLC purchased a new stake in shares of General Motors during the third quarter worth $27,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of General Motors in the fourth quarter worth $28,000. 92.67% of the stock is owned by institutional investors.

General Motors Stock Up 2.2 %

Shares of NYSE GM opened at $47.71 on Thursday. The stock has a market capitalization of $47.47 billion, a P/E ratio of 7.76, a PEG ratio of 0.68 and a beta of 1.40. General Motors has a one year low of $37.83 and a one year high of $61.24. The firm’s 50 day simple moving average is $51.49 and its two-hundred day simple moving average is $49.98. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. As a group, analysts expect that General Motors will post 11.28 EPS for the current fiscal year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Friday, March 7th. General Motors’s dividend payout ratio (DPR) is presently 7.80%.

Analyst Upgrades and Downgrades

GM has been the topic of a number of analyst reports. Wedbush boosted their price objective on General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. UBS Group increased their price target on shares of General Motors from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Hsbc Global Res cut shares of General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. increased their target price on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Sanford C. Bernstein raised their price target on shares of General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Friday, October 25th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $61.28.

Insider Activity at General Motors

In other General Motors news, EVP Craig B. Glidden sold 383,142 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $56.63, for a total value of $21,697,331.46. Following the completion of the sale, the executive vice president now owns 122,465 shares in the company, valued at approximately $6,935,192.95. The trade was a 75.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Alfred F. Kelly, Jr. bought 12,000 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was purchased at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the acquisition, the director now directly owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. The trade was a 700.12 % increase in their position. The disclosure for this purchase can be found here. 0.72% 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.