General Motors (NYSE:GM) Shares Sold by Covalis Capital LLP

Covalis Capital LLP decreased its position in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 20.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 386,812 shares of the auto manufacturer's stock after selling 101,097 shares during the period. General Motors comprises 3.0% of Covalis Capital LLP's portfolio, making the stock its 9th biggest position. Covalis Capital LLP's holdings in General Motors were worth $20,605,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GM. Golden State Wealth Management LLC acquired a new position in shares of General Motors in the fourth quarter valued at approximately $25,000. Crews Bank & Trust bought a new stake in General Motors during the 4th quarter worth approximately $26,000. Compass Planning Associates Inc bought a new position in shares of General Motors in the fourth quarter valued at approximately $27,000. Duncker Streett & Co. Inc. boosted its holdings in General Motors by 9,960.0% during 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. Finally, Whittier Trust Co. boosted its stake in shares of General Motors by 551.9% in the 4th quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer's stock worth $27,000 after buying an additional 425 shares during the last quarter. 92.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GM shares. Citigroup began coverage on shares of General Motors in a research note on Wednesday. They issued a "buy" rating and a $62.00 target price on the stock. Deutsche Bank Aktiengesellschaft lowered General Motors from a "buy" rating to a "hold" rating and set a $43.00 price objective for the company. in a research note on Monday, April 14th. Piper Sandler lifted their price objective on General Motors from $45.00 to $48.00 and gave the company a "neutral" rating in a research report on Thursday, March 20th. The Goldman Sachs Group cut their target price on General Motors from $73.00 to $63.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Finally, JPMorgan Chase & Co. dropped their price target 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. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $54.83.

Insider Activity

In other news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the stock in a transaction on Thursday, January 30th. The stock was bought at an average price of $50.66 per share, with a total value of $607,920.00. Following the transaction, the director now owns 13,714 shares in the company, valued at $694,751.24. The trade was a 700.12 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.72% of the company's stock.

General Motors Price Performance

Shares of NYSE:GM traded up $0.99 during mid-day trading on Thursday, reaching $46.83. The stock had a trading volume of 3,679,716 shares, compared to its average volume of 13,356,223. The business's 50 day moving average price is $46.92 and its 200 day moving average price is $50.29. General Motors has a 1 year low of $38.96 and a 1 year high of $61.24. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The company has a market cap of $46.60 billion, a P/E ratio of 7.62, a price-to-earnings-growth ratio of 0.67 and a beta of 1.27.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. Research analysts expect that General Motors will post 11.44 EPS for the current fiscal year.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date was Friday, March 7th. General Motors's dividend payout ratio (DPR) is currently 7.80%.

General Motors announced that its board has initiated a stock repurchase program on Wednesday, February 26th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

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.