Longbow Finance SA Cuts Stock Position in General Motors Company (NYSE:GM)

Key Points

• Longbow Finance SA has reduced its stake in General Motors Company by 17.7%, now holding 90,638 shares valued at approximately $4.26 million.
• General Motors reported a quarterly EPS of $2.53, slightly exceeding analyst expectations, despite a 1.8% decrease in revenue year-over-year.
• The company recently declared a quarterly dividend of $0.15 per share, representing an annualized yield of 1.15% with a dividend payout ratio of 8.65%.

Longbow Finance SA reduced its stake in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 17.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 90,638 shares of the auto manufacturer's stock after selling 19,464 shares during the quarter. Longbow Finance SA's holdings in General Motors were worth $4,263,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of GM. Measured Risk Portfolios Inc. acquired a new position in shares of General Motors in the 4th quarter valued at approximately $27,000. Transce3nd LLC bought a new stake in General Motors in the 4th quarter valued at approximately $34,000. North Capital Inc. bought a new stake in General Motors in the 1st quarter valued at approximately $40,000. Ossiam bought a new stake in General Motors in the 4th quarter valued at approximately $44,000. Finally, Murphy & Mullick Capital Management Corp bought a new stake in General Motors in the 4th quarter valued at approximately $46,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GM has been the topic of a number of analyst reports. Piper Sandler reiterated a "neutral" rating and set a $48.00 price objective (up previously from $43.00) on shares of General Motors in a research note on Thursday, May 22nd. Bank of America dropped their price objective on General Motors from $65.00 to $62.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Mizuho upped their price objective on General Motors from $53.00 to $58.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Benchmark initiated 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. Finally, Barclays upped their price objective on General Motors from $45.00 to $55.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $56.35.

General Motors Trading Down 0.0%

General Motors stock traded down $0.03 during trading hours on Monday, hitting $53.38. The stock had a trading volume of 4,947,708 shares, compared to its average volume of 12,337,151. The company has a quick ratio of 1.05, a current ratio of 1.22 and a debt-to-equity ratio of 1.42. The stock has a market cap of $50.82 billion, a price-to-earnings ratio of 8.47, a P/E/G ratio of 1.13 and a beta of 1.32. General Motors Company has a one year low of $38.96 and a one year high of $61.24. The business's 50 day simple moving average is $50.23 and its 200-day simple moving average is $48.70.

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

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, September 5th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.60 annualized dividend and a dividend yield of 1.12%. General Motors's dividend payout ratio is 9.52%.

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.