General Motors Company (NYSE:GM) Stock Holdings Trimmed by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC reduced its stake in General Motors by 34.2%, selling 1,040,171 shares and retaining a remaining ownership of 2,004,718 shares, valued at approximately $94.28 million.
• General Motors reported $2.53 EPS for the last quarter, exceeding estimates, while revenue of $47.12 billion was slightly below the previous year’s figures, indicating a 1.8% year-over-year decline.
• The company announced a quarterly dividend of $0.15 per share, with an annualized yield of 1.1%, further demonstrating its commitment to returning value to shareholders.

HighTower Advisors LLC cut its stake in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 34.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,004,718 shares of the auto manufacturer's stock after selling 1,040,171 shares during the quarter. HighTower Advisors LLC owned approximately 0.21% of General Motors worth $94,282,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in GM. Brighton Jones LLC lifted its stake in General Motors by 456.1% in the fourth quarter. Brighton Jones LLC now owns 38,717 shares of the auto manufacturer's stock valued at $2,062,000 after buying an additional 31,755 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in General Motors by 5.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 119,754 shares of the auto manufacturer's stock worth $6,372,000 after acquiring an additional 6,558 shares in the last quarter. Townsquare Capital LLC grew its holdings in General Motors by 14.4% in the fourth quarter. Townsquare Capital LLC now owns 82,000 shares of the auto manufacturer's stock valued at $4,368,000 after purchasing an additional 10,307 shares during the last quarter. Sagespring Wealth Partners LLC acquired a new stake in General Motors in the fourth quarter valued at $487,000. Finally, SageView Advisory Group LLC acquired a new stake in General Motors in the fourth quarter valued at $382,000. 92.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GM. UBS Group upped their target price on General Motors from $50.00 to $56.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Wells Fargo & Company increased their price objective on General Motors from $34.00 to $38.00 and gave the company an "underweight" rating in a research note on Wednesday, July 23rd. Benchmark assumed coverage on General Motors in a research note on Monday, July 21st. They set a "buy" rating and a $65.00 price objective on the stock. The Goldman Sachs Group reaffirmed a "buy" rating on shares of General Motors in a research note on Friday, July 11th. Finally, Sanford C. Bernstein set a $36.00 price objective on General Motors in a research note on Monday, May 5th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $57.53.

General Motors Trading Down 0.2%

Shares of General Motors stock traded down $0.11 during trading hours on Friday, reaching $56.31. The stock had a trading volume of 5,594,331 shares, compared to its average volume of 9,995,043. The firm has a 50 day simple moving average of $51.70 and a two-hundred day simple moving average of $48.91. The firm has a market capitalization of $53.61 billion, a price-to-earnings ratio of 8.94, a P/E/G ratio of 1.19 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. General Motors Company has a 1 year low of $41.60 and a 1 year high of $61.24.

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

General Motors Announces Dividend

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

Insider Activity

In other General Motors news, EVP Rory Harvey sold 23,977 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $53.01, for a total transaction of $1,271,020.77. Following the completion of the sale, the executive vice president owned 8,513 shares in the company, valued at $451,274.13. This trade represents a 73.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Christopher Hatto sold 36,804 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $55.10, for a total value of $2,027,900.40. Following the sale, the chief accounting officer owned 12,007 shares of the company's stock, valued at approximately $661,585.70. This trade represents a 75.40% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.54% of the company's stock.

About General Motors

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.