Swiss National Bank Reduces Holdings in General Motors (NYSE:GM)

Swiss National Bank cut its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 3.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,302,500 shares of the auto manufacturer’s stock after selling 167,900 shares during the period. Swiss National Bank owned 0.37% of General Motors worth $154,546,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Handelsbanken Fonder AB grew its position in General Motors by 18.5% in the 4th quarter. Handelsbanken Fonder AB now owns 475,061 shares of the auto manufacturer’s stock valued at $17,064,000 after acquiring an additional 74,194 shares in the last quarter. Cerity Partners LLC boosted its position in General Motors by 361.1% in the 4th quarter. Cerity Partners LLC now owns 119,714 shares of the auto manufacturer’s stock valued at $4,300,000 after buying an additional 93,754 shares during the period. Foundry Partners LLC grew its stake in shares of General Motors by 15.0% in the third quarter. Foundry Partners LLC now owns 394,047 shares of the auto manufacturer’s stock worth $12,992,000 after acquiring an additional 51,336 shares in the last quarter. Public Sector Pension Investment Board increased its position in shares of General Motors by 10.5% during the third quarter. Public Sector Pension Investment Board now owns 147,383 shares of the auto manufacturer’s stock worth $4,859,000 after acquiring an additional 14,002 shares during the period. Finally, AM Squared Ltd raised its stake in shares of General Motors by 195.0% in the fourth quarter. AM Squared Ltd now owns 41,300 shares of the auto manufacturer’s stock valued at $1,483,000 after acquiring an additional 27,300 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insider Transactions at General Motors

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. UBS Group upped their target price on shares of General Motors from $56.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Piper Sandler upped their price objective on shares of General Motors from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Tigress Financial lifted their price target on General Motors from $86.00 to $88.00 and gave the stock a “strong-buy” rating in a research report on Thursday, February 15th. Wolfe Research raised General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective for the company in a report on Thursday, January 4th. Finally, TheStreet raised shares of General Motors from a “c+” rating to a “b-” rating in a report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.65.

General Motors Stock Performance

NYSE GM traded up $0.19 during trading hours on Friday, hitting $44.86. The company had a trading volume of 10,042,896 shares, compared to its average volume of 17,184,783. The business has a fifty day simple moving average of $42.74 and a 200-day simple moving average of $36.69. The firm has a market cap of $51.18 billion, a P/E ratio of 5.48, a price-to-earnings-growth ratio of 0.52 and a beta of 1.49. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 1.22. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $46.17.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The company had revenue of $43.01 billion for the quarter, compared to analysts’ expectations of $41.09 billion. During the same quarter in the previous year, the company posted $2.21 earnings per share. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. Equities analysts predict that General Motors will post 9.44 EPS for the current year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, June 7th. This represents a $0.48 annualized dividend and a yield of 1.07%. General Motors’s payout ratio is 5.87%.

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.