Cresset Asset Management LLC Cuts Stock Holdings in General Motors (NYSE:GM)

Cresset Asset Management LLC lowered its position in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 18.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 273,182 shares of the auto manufacturer's stock after selling 60,189 shares during the period. Cresset Asset Management LLC's holdings in General Motors were worth $14,552,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in GM. Golden State Wealth Management LLC bought a new stake in shares of General Motors in the fourth quarter valued at about $25,000. Crews Bank & Trust bought a new position in General Motors during the 4th quarter worth $26,000. Compass Planning Associates Inc acquired a new position in General Motors in the 4th quarter valued at $27,000. Duncker Streett & Co. Inc. lifted its position in General Motors by 9,960.0% during the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer's stock worth $27,000 after purchasing an additional 498 shares during the period. Finally, Whittier Trust Co. grew its stake in General Motors by 551.9% during the fourth quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer's stock worth $27,000 after buying an additional 425 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors.

General Motors Stock Up 0.3 %

NYSE GM traded up $0.16 on Friday, hitting $47.51. 8,581,366 shares of the company were exchanged, compared to its average volume of 13,425,366. General Motors has a 12 month low of $38.96 and a 12 month 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 $45.68 billion, a PE ratio of 7.73, a PEG ratio of 0.67 and a beta of 1.36. The stock has a fifty day moving average of $46.63 and a 200-day moving average of $50.10.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 EPS for the quarter, beating the consensus estimate of $2.63 by $0.15. General Motors had a return on equity of 15.29% and a net margin of 3.21%. The company had revenue of $44.02 billion during the quarter, compared to the consensus estimate of $42.64 billion. During the same period last year, the business posted $2.62 EPS. The firm's revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, analysts forecast that General Motors will post 11.44 earnings per share for the current year.

General Motors announced that its Board of Directors has approved a share buyback plan on Wednesday, February 26th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the auto manufacturer to reacquire up to 12.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

General Motors Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Friday, June 6th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.26%. This is a positive change from General Motors's previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, June 6th. General Motors's dividend payout ratio is presently 8.65%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft cut shares of General Motors from a "buy" rating to a "hold" rating and set a $43.00 target price for the company. in a report on Monday, April 14th. Wedbush lowered their target price on General Motors from $60.00 to $55.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. StockNews.com lowered General Motors from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Citigroup initiated coverage on General Motors in a research note on Wednesday, April 23rd. They issued a "buy" rating and a $62.00 price objective for the company. Finally, Barclays lifted their target price on shares of General Motors from $40.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $54.28.

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.