Hartford Investment Management Co. Decreases Holdings in General Motors Company (NYSE:GM)

Key Points

• Hartford Investment Management Co. reduced its stake in General Motors by 10.6%, selling 7,231 shares and now holding 60,764 shares valued at approximately $2.86 million.
• General Motors reported $2.53 earnings per share (EPS) for the last quarter, slightly surpassing analysts’ expectations, but experienced a 1.8% decline in revenue year-over-year.
• The company declared a quarterly dividend of $0.15 per share, with a dividend yield of 1.1% and a payout ratio of 9.52%.

Hartford Investment Management Co. cut its holdings in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 10.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 60,764 shares of the auto manufacturer's stock after selling 7,231 shares during the quarter. Hartford Investment Management Co.'s holdings in General Motors were worth $2,858,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in GM. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of General Motors during the first quarter worth approximately $311,000. HHM Wealth Advisors LLC grew its holdings in General Motors by 14.4% during the first quarter. HHM Wealth Advisors LLC now owns 1,838 shares of the auto manufacturer's stock worth $86,000 after buying an additional 232 shares in the last quarter. Davis R M Inc. grew its holdings in General Motors by 77.5% during the first quarter. Davis R M Inc. now owns 6,754 shares of the auto manufacturer's stock worth $318,000 after buying an additional 2,950 shares in the last quarter. Foster & Motley Inc. grew its holdings in General Motors by 32.5% during the first quarter. Foster & Motley Inc. now owns 119,500 shares of the auto manufacturer's stock worth $5,620,000 after buying an additional 29,332 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft grew its holdings in General Motors by 2.2% during the first quarter. Baader Bank Aktiengesellschaft now owns 14,253 shares of the auto manufacturer's stock worth $667,000 after buying an additional 313 shares in the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GM has been the subject of several research analyst reports. CLSA raised General Motors to a "moderate buy" rating in a research report on Monday, July 7th. Sanford C. Bernstein set a $36.00 price target 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 report on Monday, May 5th. Deutsche Bank Aktiengesellschaft downgraded shares of General Motors from a "buy" rating to a "hold" rating and set a $43.00 price target on the stock. in a report on Monday, April 14th. Finally, Bank of America cut their price target on shares of General Motors from $65.00 to $62.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $56.35.

General Motors Price Performance

Shares of General Motors stock traded down $0.82 on Friday, reaching $52.52. The stock had a trading volume of 9,539,407 shares, compared to its average volume of 10,532,127. General Motors Company has a 1 year low of $38.96 and a 1 year high of $61.24. The company has a market cap of $50.00 billion, a P/E ratio of 8.34, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36. The company has a current ratio of 1.22, a quick ratio of 1.05 and a debt-to-equity ratio of 1.42. The business's 50 day moving average is $50.55 and its two-hundred day moving average is $48.77.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.52 by $0.01. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The firm had revenue of $47.12 billion for the quarter, compared to the consensus estimate of $45.87 billion. During the same period in the prior year, the firm posted $3.06 earnings per share. The company's revenue for the quarter was down 1.8% on a year-over-year basis. As a group, research analysts anticipate that General Motors Company will post 11.44 EPS for the current year.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, September 5th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.60 annualized dividend and a dividend yield of 1.1%. General Motors's dividend payout ratio (DPR) is presently 9.52%.

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.