Fortem Financial Group LLC Reduces Holdings in General Motors Company (NYSE:GM)

Fortem Financial Group LLC trimmed its stake in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 32.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,399 shares of the auto manufacturer's stock after selling 8,923 shares during the period. Fortem Financial Group LLC's holdings in General Motors were worth $865,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of GM. Burford Brothers Inc. lifted its stake in shares of General Motors by 2.8% in the first quarter. Burford Brothers Inc. now owns 8,718 shares of the auto manufacturer's stock valued at $410,000 after purchasing an additional 241 shares during the period. Cerity Partners LLC raised its position in General Motors by 46.9% during the first quarter. Cerity Partners LLC now owns 497,222 shares of the auto manufacturer's stock worth $23,384,000 after acquiring an additional 158,825 shares during the last quarter. tru Independence LLC raised its position in General Motors by 1.0% during the first quarter. tru Independence LLC now owns 159,643 shares of the auto manufacturer's stock worth $7,508,000 after acquiring an additional 1,600 shares during the last quarter. Poinciana Advisors Group LLC acquired a new position in General Motors during the first quarter worth about $334,000. Finally, Nisa Investment Advisors LLC grew its holdings in shares of General Motors by 11.1% during the first quarter. Nisa Investment Advisors LLC now owns 191,303 shares of the auto manufacturer's stock worth $8,997,000 after buying an additional 19,094 shares in the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Stock Up 0.4%

Shares of NYSE GM opened at $53.36 on Friday. The business has a fifty day moving average of $49.33 and a two-hundred day moving average of $48.76. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.04 and a current ratio of 1.21. General Motors Company has a 52-week low of $38.96 and a 52-week high of $61.24. The stock has a market cap of $51.30 billion, a PE ratio of 7.69, a PEG ratio of 1.43 and a beta of 1.32.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 EPS for the quarter, beating analysts' consensus estimates of $2.63 by $0.15. The company had revenue of $44.02 billion during the quarter, compared to analysts' expectations of $42.64 billion. General Motors had a return on equity of 14.30% and a net margin of 3.08%. General Motors's revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.62 EPS. As a group, 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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 19th. Investors of record on Friday, June 6th were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, June 6th. This is a positive change from General Motors's previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a dividend yield of 1.12%. General Motors's payout ratio is currently 8.65%.

Analyst Ratings Changes

GM has been the subject of a number of recent analyst reports. Barclays boosted their target price on shares of General Motors from $40.00 to $45.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Piper Sandler restated a "neutral" rating and issued a $48.00 target price (up from $43.00) on shares of General Motors in a report on Thursday, May 22nd. UBS Group lowered their target price on shares of General Motors from $51.00 to $50.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Citigroup initiated coverage on shares of General Motors in a research report on Wednesday, April 23rd. They set a "buy" rating and a $62.00 price target on the stock. Finally, BNP Paribas raised shares of General Motors to a "strong-buy" rating in a research report on Monday, May 5th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, General Motors presently has a consensus rating of "Hold" and a consensus price target of $53.35.

General Motors 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.

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