InTrack Investment Management Inc Decreases Stock Position in General Motors (NYSE:GM)

InTrack Investment Management Inc lessened its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 49.8% in the 4th quarter, Holdings Channel reports. The firm owned 6,683 shares of the auto manufacturer’s stock after selling 6,639 shares during the period. InTrack Investment Management Inc’s holdings in General Motors were worth $340,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP increased its position in General Motors by 2.3% in the third quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer’s stock worth $412,000 after purchasing an additional 205 shares during the last quarter. Avestar Capital LLC grew its stake in shares of General Motors by 2.3% in the 3rd quarter. Avestar Capital LLC now owns 9,592 shares of the auto manufacturer’s stock worth $430,000 after buying an additional 213 shares in the last quarter. Continuum Advisory LLC increased its holdings in shares of General Motors by 7.9% in the 3rd quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer’s stock worth $131,000 after buying an additional 213 shares during the last quarter. Metis Global Partners LLC raised its position in shares of General Motors by 0.6% during the 3rd quarter. Metis Global Partners LLC now owns 36,240 shares of the auto manufacturer’s stock valued at $1,625,000 after buying an additional 230 shares in the last quarter. Finally, Centaurus Financial Inc. lifted its holdings in shares of General Motors by 2.1% in the 2nd quarter. Centaurus Financial Inc. now owns 11,628 shares of the auto manufacturer’s stock valued at $540,000 after acquiring an additional 238 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on GM. Mizuho boosted their price objective on General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Barclays increased their price target on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Wedbush lifted their price objective on shares of General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. DZ Bank downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price on the stock. in a research note on Friday, October 11th. Finally, Royal Bank of Canada lifted their price target on shares of General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, General Motors currently has an average rating of “Hold” and a consensus price target of $59.68.

General Motors Price Performance

NYSE GM opened at $50.90 on Friday. The company has a market cap of $55.97 billion, a PE ratio of 5.43, a P/E/G ratio of 0.36 and a beta of 1.42. The firm’s 50 day moving average price is $53.69 and its 200-day moving average price is $49.59. 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 has a 52-week low of $34.32 and a 52-week high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.47. The business had revenue of $48.76 billion for the quarter, compared to analysts’ expectations of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.28 EPS. Sell-side analysts forecast that General Motors will post 10.34 EPS for the current fiscal year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, December 6th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date was Friday, December 6th. General Motors’s dividend payout ratio is currently 5.12%.

Insider Transactions at General Motors

In related news, EVP Rory Harvey sold 9,307 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $54.01, for a total transaction of $502,671.07. Following the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at $459,787.13. The trade was a 52.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mary T. Barra sold 506,824 shares of the 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 completion of the sale, the chief executive officer now owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. This trade represents a 42.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,030,475 shares of company stock valued at $56,509,286 in the last 90 days. Insiders own 0.72% of the company’s stock.

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.