General Motors (GM) Position Trimmed by Sippican Capital Advisors

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Sippican Capital Advisors reduced its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 4.7% during the first quarter, HoldingsChannel reports. The firm owned 22,664 shares of the auto manufacturer’s stock after selling 1,114 shares during the period. Sippican Capital Advisors’ holdings in General Motors were worth $841,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Signet Investment Advisory Group Inc. acquired a new stake in shares of General Motors in the 4th quarter valued at about $26,000. NuWave Investment Management LLC lifted its position in General Motors by 198.6% during the 4th quarter. NuWave Investment Management LLC now owns 884 shares of the auto manufacturer’s stock worth $30,000 after acquiring an additional 588 shares during the period. Cornerstone Advisors Inc. lifted its position in General Motors by 63.0% during the 4th quarter. Cornerstone Advisors Inc. now owns 895 shares of the auto manufacturer’s stock worth $30,000 after acquiring an additional 346 shares during the period. Advisors Preferred LLC acquired a new stake in General Motors during the 4th quarter worth approximately $31,000. Finally, Liberty Wealth Management LLC acquired a new stake in General Motors during the 4th quarter worth approximately $30,000. 77.58% of the stock is currently owned by institutional investors and hedge funds.

In related news, CFO Dhivya Suryadevara sold 34,756 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $37.40, for a total value of $1,299,874.40. Following the completion of the transaction, the chief financial officer now directly owns 10,741 shares of the company’s stock, valued at approximately $401,713.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Christopher Hatto sold 8,499 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $40.00, for a total value of $339,960.00. Following the completion of the transaction, the vice president now directly owns 10,040 shares of the company’s stock, valued at $401,600. The disclosure for this sale can be found here. Insiders sold a total of 113,521 shares of company stock valued at $4,337,346 over the last ninety days. 0.39% of the stock is currently owned by company insiders.

A number of research firms have weighed in on GM. Royal Bank of Canada increased their price objective on General Motors from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, January 14th. Seaport Global Securities started coverage on General Motors in a research note on Wednesday, February 13th. They set a “buy” rating for the company. BMO Capital Markets increased their target price on General Motors from $41.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, January 14th. Goldman Sachs Group reissued a “neutral” rating and set a $36.00 target price on shares of General Motors in a research note on Tuesday, March 26th. Finally, Barclays reissued a “buy” rating and set a $49.00 target price on shares of General Motors in a research note on Monday, January 14th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $47.20.

NYSE GM traded up $0.42 during mid-day trading on Wednesday, hitting $40.08. The stock had a trading volume of 2,985,790 shares, compared to its average volume of 7,044,005. General Motors has a 52-week low of $30.56 and a 52-week high of $45.00. The company has a market capitalization of $55.77 billion, a P/E ratio of 6.13, a PEG ratio of 0.69 and a beta of 1.27. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.92 and a quick ratio of 0.80.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Wednesday, February 6th. The auto manufacturer reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.22. General Motors had a return on equity of 23.99% and a net margin of 5.45%. The firm had revenue of $38.40 billion during the quarter, compared to the consensus estimate of $36.31 billion. During the same period last year, the business posted $1.65 EPS. General Motors’s quarterly revenue was up 1.8% on a year-over-year basis. On average, research analysts expect that General Motors will post 6.48 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend was Thursday, March 7th. General Motors’s payout ratio is currently 23.24%.

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General Motors Company Profile

General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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