General Motors (NYSE:GM) Shares Sold by Sterneck Capital Management LLC

Sterneck Capital Management LLC decreased its position in General Motors (NYSE:GM) (TSE:GMM.U) by 40.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,349 shares of the auto manufacturer’s stock after selling 3,694 shares during the period. Sterneck Capital Management LLC’s holdings in General Motors were worth $285,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of General Motors by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 23,620,533 shares of the auto manufacturer’s stock valued at $1,055,395,000 after purchasing an additional 106,878 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in General Motors by 6.1% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer’s stock valued at $774,766,000 after buying an additional 989,750 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of General Motors by 9.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock worth $600,291,000 after acquiring an additional 1,091,137 shares in the last quarter. Diamond Hill Capital Management Inc. grew its holdings in shares of General Motors by 3.9% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 11,113,063 shares of the auto manufacturer’s stock worth $498,310,000 after acquiring an additional 421,989 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its stake in General Motors by 6.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 5,798,131 shares of the auto manufacturer’s stock valued at $259,988,000 after purchasing an additional 358,507 shares in the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Trading Down 2.9 %

Shares of GM opened at $52.00 on Wednesday. The stock has a 50-day moving average price of $53.96 and a 200 day moving average price of $49.42. General Motors has a one year low of $34.32 and a one year high of $61.24. The company has a market capitalization of $57.18 billion, a P/E ratio of 5.54, a P/E/G ratio of 0.40 and a beta of 1.42. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. The business had revenue of $48.76 billion during the quarter, compared to analyst estimates of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The business’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.28 earnings per share. Sell-side analysts forecast that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, December 6th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.92%. The ex-dividend date was Friday, December 6th. General Motors’s payout ratio is currently 5.12%.

Insider Transactions at General Motors

In other news, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total value of $27,028,923.92. Following the transaction, the chief executive officer now directly owns 694,548 shares in the company, valued at approximately $37,040,244.84. This trade represents a 42.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Rory Harvey sold 9,307 shares of General Motors stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total transaction of $502,671.07. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $459,787.13. This trade represents a 52.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,030,475 shares of company stock worth $56,509,286. 0.72% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have weighed in on GM. Royal Bank of Canada upped their target price on General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $53.00 price objective on shares of General Motors in a research note on Tuesday, September 10th. DZ Bank downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target on the stock. in a report on Friday, October 11th. UBS Group increased their target price on General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Sanford C. Bernstein upped their target price on shares of General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Friday, October 25th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, General Motors has a consensus rating of “Hold” and a consensus target price of $59.58.

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.