General Motors Company (NYSE:GM) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC trimmed its holdings in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 9.6% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 523,007 shares of the auto manufacturer's stock after selling 55,485 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.05% of General Motors worth $24,597,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GM. Duncker Streett & Co. Inc. lifted its holdings in shares of General Motors by 9,960.0% in the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer's stock worth $27,000 after acquiring an additional 498 shares during the last quarter. Whittier Trust Co. raised its position in General Motors by 551.9% in the fourth quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer's stock valued at $27,000 after purchasing an additional 425 shares during the period. Measured Risk Portfolios Inc. acquired a new position in General Motors during the fourth quarter worth $27,000. Transce3nd LLC purchased a new position in shares of General Motors during the fourth quarter worth $34,000. Finally, Rakuten Securities Inc. boosted its position in shares of General Motors by 195.5% during the fourth quarter. Rakuten Securities Inc. now owns 792 shares of the auto manufacturer's stock worth $42,000 after buying an additional 524 shares during the period. Institutional investors and hedge funds own 92.67% of the company's stock.

General Motors Stock Down 1.7%

Shares of NYSE:GM traded down $0.84 on Wednesday, hitting $48.16. 6,906,273 shares of the company's stock were exchanged, compared to its average volume of 12,806,039. General Motors Company has a 1-year low of $38.96 and a 1-year high of $61.24. The company has a market capitalization of $46.30 billion, a PE ratio of 6.94, a P/E/G ratio of 1.30 and a beta of 1.34. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.04 and a current ratio of 1.21. The firm's 50-day moving average is $47.78 and its 200 day moving average is $48.78.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.63 by $0.15. The firm had revenue of $44.02 billion during the quarter, compared to the consensus estimate of $42.64 billion. General Motors had a return on equity of 14.30% and a net margin of 3.08%. The firm's quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.62 earnings per share. Sell-side analysts predict that General Motors Company will post 11.44 EPS for the current year.

General Motors announced that its board has approved a share buyback program on Wednesday, February 26th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the auto manufacturer to reacquire up to 12.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

General Motors Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 19th. Investors of record on Friday, June 6th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.25%. This is an increase from General Motors's previous quarterly dividend of $0.12. The ex-dividend date was Friday, June 6th. General Motors's dividend payout ratio (DPR) is 8.65%.

Analysts Set New Price Targets

Several research firms recently issued reports on GM. Cowen began coverage on General Motors in a research note on Thursday, March 6th. They set a "buy" rating on the stock. Barclays increased their price target on shares of General Motors from $40.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. BNP Paribas upgraded shares of General Motors to a "strong-buy" rating in a report on Monday, May 5th. JPMorgan Chase & Co. cut their target price on shares of General Motors from $64.00 to $53.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Finally, The Goldman Sachs Group reduced their target price on shares of General Motors from $73.00 to $63.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, General Motors currently has a consensus rating of "Hold" and a consensus target price of $53.35.

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.