General Motors Company (NYSE:GM) Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. reduced its stake in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 66.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,249 shares of the auto manufacturer's stock after selling 35,370 shares during the period. Bessemer Group Inc.'s holdings in General Motors were worth $856,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of GM. Norges Bank purchased a new position in General Motors during the 4th quarter worth $592,321,000. Assenagon Asset Management S.A. grew its position in shares of General Motors by 305.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,858,959 shares of the auto manufacturer's stock worth $134,457,000 after buying an additional 2,154,037 shares in the last quarter. Amundi increased its stake in shares of General Motors by 75.5% during the fourth quarter. Amundi now owns 4,914,256 shares of the auto manufacturer's stock valued at $250,627,000 after buying an additional 2,113,973 shares during the period. ACR Alpine Capital Research LLC increased its stake in shares of General Motors by 39.8% during the fourth quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer's stock valued at $394,060,000 after buying an additional 2,104,528 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of General Motors in the fourth quarter valued at about $108,366,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GM has been the topic of a number of research reports. Wedbush cut their target price on shares of General Motors from $60.00 to $55.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Sanford C. Bernstein set a $36.00 price objective on shares of General Motors in a report on Monday, May 5th. BNP Paribas raised shares of General Motors to a "strong-buy" rating in a research note on Monday, May 5th. Mizuho increased their target price on General Motors from $53.00 to $58.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $48.00 price target (up from $43.00) on shares of General Motors in a report on Thursday, May 22nd. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $53.35.

General Motors Stock Performance

General Motors stock traded up $0.57 during mid-day trading on Wednesday, reaching $52.60. 9,458,592 shares of the company traded hands, compared to its average volume of 12,758,104. The firm's fifty day moving average is $48.29 and its two-hundred day moving average is $48.68. The company has a market capitalization of $50.57 billion, a price-to-earnings ratio of 7.58, a price-to-earnings-growth ratio of 1.40 and a beta of 1.32. General Motors Company has a fifty-two week low of $38.96 and a fifty-two week high of $61.24. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.21 and a quick ratio of 1.04.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its quarterly earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.15. General Motors had a net margin of 3.08% and a return on equity of 14.30%. The company had revenue of $44.02 billion for the quarter, compared to the consensus estimate of $42.64 billion. During the same quarter in the prior year, the company earned $2.62 EPS. General Motors's quarterly revenue was up 2.3% on a year-over-year basis. On average, equities research analysts expect that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 19th. Stockholders of record on Friday, June 6th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.14%. The ex-dividend date was Friday, June 6th. This is a boost from General Motors's previous quarterly dividend of $0.12. General Motors's payout ratio is 8.65%.

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.