Syon Capital LLC Buys Shares of 12,056 General Motors (NYSE:GM)

Syon Capital LLC purchased a new position in General Motors (NYSE:GM) (TSE:GMM.U) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,056 shares of the auto manufacturer’s stock, valued at approximately $433,000.

Several other hedge funds have also recently modified their holdings of GM. SouthState Corp raised its position in General Motors by 173.8% in the 3rd quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock worth $25,000 after buying an additional 485 shares during the last quarter. Highlander Capital Management LLC bought a new stake in General Motors during the 4th quarter valued at approximately $27,000. BluePath Capital Management LLC bought a new position in General Motors during the third quarter valued at approximately $33,000. Bfsg LLC purchased a new position in General Motors during the 4th quarter valued at approximately $35,000. Finally, Tennessee Valley Asset Management Partners purchased a new position in General Motors during the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Stock Up 0.4 %

Shares of NYSE:GM opened at $45.82 on Friday. The business’s 50 day moving average is $42.27 and its 200 day moving average is $36.29. The stock has a market cap of $52.28 billion, a P/E ratio of 5.60, a price-to-earnings-growth ratio of 0.52 and a beta of 1.51. General Motors has a 52-week low of $26.30 and a 52-week high of $46.17. The company has a quick ratio of 0.90, a current ratio of 1.16 and a debt-to-equity ratio of 1.22.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. The business had revenue of $43.01 billion for the quarter, compared to the consensus estimate of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The business’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.21 EPS. Sell-side analysts predict that General Motors will post 9.45 EPS for the current year.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, June 7th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Friday, June 7th. General Motors’s dividend payout ratio (DPR) is 5.87%.

Insider Activity

In other news, EVP Rory Harvey sold 5,100 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $43.04, for a total transaction of $219,504.00. Following the transaction, the executive vice president now directly owns 12,658 shares in the company, valued at $544,800.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Rory Harvey sold 5,100 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $43.04, for a total value of $219,504.00. Following the completion of the transaction, the executive vice president now directly owns 12,658 shares of the company’s stock, valued at approximately $544,800.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Julian G. Blissett sold 13,826 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total value of $528,706.24. Following the sale, the executive vice president now directly owns 87,567 shares in the company, valued at approximately $3,348,562.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 86,248 shares of company stock worth $3,614,078. 0.54% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on GM. Citigroup raised their target price on shares of General Motors from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday. StockNews.com upgraded shares of General Motors from a “hold” rating to a “buy” rating in a report on Thursday. Wolfe Research raised shares of General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 price target for the company in a report on Thursday, January 4th. UBS Group upped their price objective on General Motors from $56.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Wells Fargo & Company increased their price target on General Motors from $28.00 to $30.00 and gave the company an “underweight” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $54.65.

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.