Olstein Capital Management L.P. Has $8.19 Million Position in General Motors (NYSE:GM)

Olstein Capital Management L.P. trimmed its position in General Motors (NYSE:GM) (TSE:GMM.U) by 35.7% during the first quarter, HoldingsChannel.com reports. The institutional investor 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 Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in GM. Public Employees Retirement Association of Colorado increased its stake in General Motors by 1,213.0% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 2,203,771 shares of the auto manufacturer’s stock worth $79,159,000 after acquiring an additional 2,035,925 shares during the period. Handelsbanken Fonder AB increased its position in shares of General Motors by 18.5% in the fourth quarter. Handelsbanken Fonder AB now owns 475,061 shares of the auto manufacturer’s stock worth $17,064,000 after purchasing an additional 74,194 shares during the period. US Bancorp DE increased its position in shares of General Motors by 59.3% in the fourth quarter. US Bancorp DE now owns 86,888 shares of the auto manufacturer’s stock worth $3,121,000 after purchasing an additional 32,331 shares during the period. GSA Capital Partners LLP raised its stake in General Motors by 317.6% in the fourth quarter. GSA Capital Partners LLP now owns 67,807 shares of the auto manufacturer’s stock valued at $2,436,000 after purchasing an additional 51,571 shares in the last quarter. Finally, Cerity Partners LLC lifted its position in General Motors by 361.1% during the fourth quarter. Cerity Partners LLC now owns 119,714 shares of the auto manufacturer’s stock worth $4,300,000 after purchasing an additional 93,754 shares during the period. Institutional investors own 92.67% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Mary T. Barra sold 326,305 shares of General Motors 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 completion of the transaction, the chief executive officer now owns 898,648 shares of the company’s stock, valued at $43,431,657.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other General Motors news, CEO Mary T. Barra sold 626,316 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the transaction, the chief executive officer now directly owns 1,198,648 shares in the company, valued at approximately $52,093,242.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mary T. Barra sold 326,305 shares of General Motors 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 completion of the sale, the chief executive officer now owns 898,648 shares of the company’s stock, valued at approximately $43,431,657.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,152,621 shares of company stock worth $51,818,111. 0.72% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have commented 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, April 24th. Wedbush boosted their price objective on shares of General Motors from $45.00 to $55.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Sanford C. Bernstein initiated coverage on General Motors in a research note on Thursday, April 25th. They set an “outperform” rating and a $55.00 target price for the company. Wells Fargo & Company lifted their price target on General Motors from $30.00 to $32.00 and gave the company an “underweight” rating in a research note on Tuesday, June 25th. Finally, TheStreet upgraded General Motors from a “c+” rating to a “b-” rating in a research report on Tuesday, March 19th. One equities 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 issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.91.

General Motors Trading Down 0.5 %

Shares of GM stock traded down $0.24 during trading hours on Wednesday, hitting $46.71. 5,440,685 shares of the company’s stock traded hands, compared to its average volume of 16,021,320. 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 12 month low of $26.30 and a 12 month high of $49.35. The stock has a market cap of $53.29 billion, a PE ratio of 5.72, a price-to-earnings-growth ratio of 0.49 and a beta of 1.43. The stock’s 50 day simple moving average is $45.70 and its 200 day simple moving average is $41.61.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, topping the consensus estimate of $2.02 by $0.60. The firm 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 quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.21 EPS. On average, sell-side analysts anticipate that General Motors will post 9.43 EPS for the current year.

General Motors announced that its board has authorized a stock repurchase plan on Tuesday, June 11th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to purchase up to 10.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Friday, June 7th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date was Friday, June 7th. General Motors’s dividend payout ratio is presently 5.87%.

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.