General Motors (NYSE:GM) Position Trimmed by Olstein Capital Management L.P.

Olstein Capital Management L.P. cut its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 35.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 180,607 shares of the auto manufacturer’s stock after selling 100,393 shares during the period. Olstein Capital Management L.P.’s holdings in General Motors were worth $8,191,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Highlander Capital Management LLC acquired a new position in shares of General Motors during the fourth quarter valued at $27,000. Cape Investment Advisory Inc. boosted its stake in General Motors by 75.9% during the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock valued at $30,000 after purchasing an additional 359 shares during the period. Sachetta LLC bought a new position in General Motors in the 4th quarter worth about $33,000. Bfsg LLC acquired a new stake in shares of General Motors in the fourth quarter valued at approximately $35,000. Finally, Tennessee Valley Asset Management Partners bought a new stake in shares of General Motors during the fourth quarter valued at approximately $36,000. Institutional investors own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

GM has been the subject of a number of analyst reports. Morgan Stanley boosted their price target on General Motors from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 10th. TheStreet upgraded shares of General Motors from a “c+” rating to a “b-” rating in a research report on Tuesday, March 19th. Deutsche Bank Aktiengesellschaft upped their price target on shares of General Motors from $44.00 to $50.00 and gave the stock a “hold” rating in a research note on Tuesday, April 23rd. Bank of America reiterated a “buy” rating and set a $75.00 price objective on shares of General Motors in a research note on Wednesday, June 12th. Finally, Sanford C. Bernstein assumed coverage on General Motors in a research report on Thursday, April 25th. They issued an “outperform” rating and a $55.00 target price for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, General Motors has an average rating of “Moderate Buy” and an average price target of $54.91.

Insider Activity at General Motors

In other news, CEO Mary T. Barra sold 626,316 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $43.46, for a total value of $27,219,693.36. Following the transaction, the chief executive officer now directly owns 1,198,648 shares of the company’s stock, valued at $52,093,242.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Mary T. Barra sold 326,305 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $48.33, for a total transaction of $15,770,320.65. Following the transaction, the chief executive officer now owns 898,648 shares in the company, valued at approximately $43,431,657.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Mary T. Barra sold 626,316 shares of General Motors stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the completion of the sale, the chief executive officer now directly owns 1,198,648 shares of the company’s stock, valued at approximately $52,093,242.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,152,621 shares of company stock valued at $51,818,111. Corporate insiders own 0.72% of the company’s stock.

General Motors Trading Down 0.5 %

NYSE GM traded down $0.24 on Wednesday, hitting $46.71. 5,440,685 shares of the stock were exchanged, compared to its average volume of 16,021,320. The company’s 50-day moving average price is $45.70 and its two-hundred day moving average price is $41.61. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 0.97. General Motors has a 52-week low of $26.30 and a 52-week high of $49.35. The company has a market capitalization of $53.29 billion, a price-to-earnings ratio of 5.72, a P/E/G ratio of 0.49 and a beta of 1.43.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.60. The firm had revenue of $43.01 billion for the quarter, compared to analyst estimates of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. General Motors’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.21 earnings per share. Research analysts predict that General Motors will post 9.43 EPS for the current year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Friday, June 7th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.03%. The ex-dividend date was Friday, June 7th. General Motors’s dividend payout ratio is currently 5.87%.

General Motors announced that its Board of Directors has authorized a share repurchase program on Tuesday, June 11th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to buy up to 10.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

General Motors 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.