DAVENPORT & Co LLC Reduces Holdings in General Motors (NYSE:GM)

DAVENPORT & Co LLC trimmed its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 22.7% in the 4th quarter, Holdings Channel reports. The fund 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 SEC filing.

Other institutional investors also recently modified their holdings of the company. Tritonpoint Wealth LLC bought a new stake in General Motors during the 4th quarter valued at about $209,000. Heck Capital Advisors LLC bought a new stake in shares of General Motors in the fourth quarter worth approximately $164,000. Caprock Group LLC grew its stake in shares of General Motors by 26.0% in the fourth quarter. Caprock Group LLC now owns 37,047 shares of the auto manufacturer’s stock worth $1,974,000 after acquiring an additional 7,645 shares during the period. AA Financial Advisors LLC bought a new stake in shares of General Motors in the fourth quarter worth approximately $201,000. Finally, Mediolanum International Funds Ltd grew its stake in shares of General Motors by 905.8% in the fourth quarter. Mediolanum International Funds Ltd now owns 160,667 shares of the auto manufacturer’s stock worth $8,600,000 after acquiring an additional 144,693 shares during the period. 92.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on GM. Royal Bank of Canada lifted their price target on shares of General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. StockNews.com raised shares of General Motors from a “hold” rating to a “buy” rating in a report on Tuesday, January 28th. Sanford C. Bernstein raised their price objective on shares of General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a report on Friday, October 25th. Hsbc Global Res downgraded shares of General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Finally, Wells Fargo & Company raised their price objective on shares of General Motors from $35.00 to $37.00 and gave the stock an “underweight” rating in a report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $61.28.

Insider Transactions at General Motors

In other news, EVP Rory Harvey sold 8,919 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $60.01, for a total transaction of $535,229.19. Following the transaction, the executive vice president now owns 8,513 shares in the company, valued at $510,865.13. This represents a 51.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were bought at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the acquisition, the director now owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. This represents a 700.12 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 514,344 shares of company stock worth $28,977,691. Insiders own 0.72% of the company’s stock.

General Motors Trading Down 3.1 %

Shares of GM opened at $47.90 on Tuesday. The company’s fifty day moving average is $52.64 and its 200 day moving average is $49.95. General Motors has a fifty-two week low of $37.60 and a fifty-two week high of $61.24. The stock has a market capitalization of $47.66 billion, a PE ratio of 7.79, a P/E/G ratio of 0.69 and a beta of 1.42. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, beating 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%. Sell-side analysts expect that General Motors will post 11.41 earnings per share for the current fiscal year.

General Motors Dividend Announcement

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

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.