Morningstar Investment Services LLC Sells 4,759 Shares of General Motors Company (NYSE:GM)

Morningstar Investment Services LLC reduced its position in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 45.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 5,820 shares of the auto manufacturer's stock after selling 4,759 shares during the period. Morningstar Investment Services LLC's holdings in General Motors were worth $274,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in GM. Franklin Resources Inc. lifted its holdings in shares of General Motors by 4.2% in the fourth quarter. Franklin Resources Inc. now owns 29,273,136 shares of the auto manufacturer's stock valued at $1,559,380,000 after purchasing an additional 1,170,816 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of General Motors by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 23,796,969 shares of the auto manufacturer's stock valued at $1,264,567,000 after acquiring an additional 176,436 shares during the last quarter. Dimensional Fund Advisors LP raised its position in General Motors by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 14,066,883 shares of the auto manufacturer's stock worth $749,382,000 after purchasing an additional 228,408 shares during the last quarter. Norges Bank bought a new position in General Motors during the 4th quarter worth $592,321,000. Finally, Northern Trust Corp raised its position in shares of General Motors by 8.1% in the 4th quarter. Northern Trust Corp now owns 10,930,178 shares of the auto manufacturer's stock worth $582,251,000 after acquiring an additional 822,454 shares in the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Industrial Alliance Securities set a $70.00 price target on shares of General Motors in a report on Friday, July 11th. CLSA upgraded shares of General Motors to a "moderate buy" rating in a report on Monday, July 7th. Benchmark began coverage on shares of General Motors in a research report on Monday. They set a "buy" rating and a $65.00 price target for the company. BNP Paribas upgraded shares of General Motors to a "strong-buy" rating in a research note on Monday, May 5th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $48.00 price target (up previously from $43.00) on shares of General Motors in a research note on Thursday, May 22nd. Four 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $56.40.

General Motors Price Performance

NYSE GM traded up $2.91 during trading hours on Wednesday, reaching $51.80. The company's stock had a trading volume of 10,477,057 shares, compared to its average volume of 12,651,819. General Motors Company has a fifty-two week low of $38.96 and a fifty-two week high of $61.24. The stock has a market cap of $49.80 billion, a PE ratio of 7.45, a PEG ratio of 1.43 and a beta of 1.32. The company's 50-day moving average is $50.02 and its two-hundred day moving average is $48.69. 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 (NYSE:GM - Get Free Report) TSE: GMM.U last posted its quarterly earnings data on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.52 by $0.01. General Motors had a net margin of 3.08% and a return on equity of 14.30%. The company had revenue of $47.12 billion for the quarter, compared to analyst estimates of $45.87 billion. During the same quarter last year, the firm posted $3.06 earnings per share. The business's quarterly revenue was down 1.8% on a year-over-year basis. Analysts forecast that General Motors Company will post 11.44 EPS for the current year.

General Motors Announces Dividend

The firm 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. This represents a $0.60 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Friday, September 5th. General Motors's dividend payout ratio (DPR) is presently 8.65%.

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.