Custos Family Office LLC Trims Holdings in General Motors (NYSE:GM)

Custos Family Office LLC reduced its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 3.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,528 shares of the auto manufacturer’s stock after selling 373 shares during the quarter. General Motors makes up approximately 0.2% of Custos Family Office LLC’s investment portfolio, making the stock its 27th largest position. Custos Family Office LLC’s holdings in General Motors were worth $477,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of General Motors in the 4th quarter worth $602,280,000. Hotchkis & Wiley Capital Management LLC lifted its stake in General Motors by 21.9% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock worth $650,062,000 after acquiring an additional 3,247,050 shares during the period. Putnam Investments LLC grew its holdings in General Motors by 16.8% during the 4th quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock worth $726,942,000 after acquiring an additional 2,905,689 shares in the last quarter. Public Employees Retirement Association of Colorado increased its position 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 valued at $79,159,000 after purchasing an additional 2,035,925 shares during the period. Finally, Caxton Associates LP raised its holdings in shares of General Motors by 1,514.2% in the 4th quarter. Caxton Associates LP now owns 1,755,334 shares of the auto manufacturer’s stock valued at $63,052,000 after purchasing an additional 1,646,594 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GM has been the topic of several analyst reports. TheStreet raised General Motors from a “c+” rating to a “b-” rating in a research report on Tuesday, March 19th. StockNews.com raised General Motors from a “hold” rating to a “buy” rating in a report on Saturday, June 1st. Bank of America reaffirmed a “buy” rating and set a $75.00 price objective on shares of General Motors in a research note on Wednesday, June 12th. Wedbush boosted their target price on shares of General Motors from $45.00 to $55.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Finally, Sanford C. Bernstein began coverage on shares of General Motors in a research report on Thursday, April 25th. They set an “outperform” rating and a $55.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, General Motors has an average rating of “Moderate Buy” and a consensus target price of $55.96.

Insider Transactions at General Motors

In other General Motors news, CEO Mary T. Barra sold 326,305 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $48.33, for a total value of $15,770,320.65. Following the transaction, the chief executive officer now directly owns 898,648 shares in the company, valued at approximately $43,431,657.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other General Motors news, President Mark L. Reuss sold 150,000 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the completion of the transaction, the president now owns 176,907 shares of the company’s stock, valued at $7,684,840.08. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Mary T. Barra sold 326,305 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $48.33, for a total value of $15,770,320.65. Following the completion of the sale, the chief executive officer now directly owns 898,648 shares in the company, valued at approximately $43,431,657.84. The disclosure for this sale can be found here. Insiders have sold a total of 1,152,621 shares of company stock worth $51,818,111 in the last quarter. Company insiders own 0.72% of the company’s stock.

General Motors Price Performance

GM stock traded up $1.22 during midday trading on Friday, reaching $49.15. The stock had a trading volume of 5,589,701 shares, compared to its average volume of 15,753,897. General Motors has a 52-week low of $26.30 and a 52-week high of $49.35. The company has a market cap of $56.08 billion, a price-to-earnings ratio of 5.85, a price-to-earnings-growth ratio of 0.49 and a beta of 1.43. The company’s fifty day simple moving average is $45.92 and its 200 day simple moving average is $42.06. The company has a current ratio of 1.16, a quick ratio of 0.97 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 for the quarter, topping analysts’ consensus estimates 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 net margin of 6.13% and a return on equity of 14.40%. General Motors’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.21 earnings per share. As a group, sell-side analysts predict that General Motors will post 9.43 earnings per share for the current fiscal year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Friday, June 7th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date was Friday, June 7th. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

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

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.