Ballentine Partners LLC Has $691,000 Stock Holdings in General Motors (NYSE:GM)

Ballentine Partners LLC raised its position in General Motors (NYSE:GM) (TSE:GMM.U) by 52.6% during the 1st quarter, HoldingsChannel.com reports. The firm owned 15,247 shares of the auto manufacturer’s stock after purchasing an additional 5,256 shares during the period. Ballentine Partners LLC’s holdings in General Motors were worth $691,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. FinTrust Capital Advisors LLC grew its stake in General Motors by 2.5% in the 4th quarter. FinTrust Capital Advisors LLC now owns 11,113 shares of the auto manufacturer’s stock valued at $399,000 after buying an additional 268 shares during the last quarter. Summit Financial LLC grew its stake in shares of General Motors by 4.3% during the fourth quarter. Summit Financial LLC now owns 6,662 shares of the auto manufacturer’s stock worth $239,000 after buying an additional 273 shares during the last quarter. Pacifica Partners Inc. increased its holdings in General Motors by 10.1% in the 4th quarter. Pacifica Partners Inc. now owns 3,288 shares of the auto manufacturer’s stock worth $107,000 after purchasing an additional 301 shares in the last quarter. RWA Wealth Partners LLC raised its holdings in General Motors by 5.0% in the 4th quarter. RWA Wealth Partners LLC now owns 6,740 shares of the auto manufacturer’s stock valued at $242,000 after buying an additional 319 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in shares of General Motors by 0.7% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 48,789 shares of the auto manufacturer’s stock worth $1,753,000 after purchasing an additional 356 shares during the period. Institutional investors own 92.67% of the company’s stock.

Insider Buying and Selling at General Motors

In other General Motors news, CAO Christopher Hatto sold 3,500 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $45.00, for a total transaction of $157,500.00. Following the sale, the chief accounting officer now owns 12,007 shares in the company, valued at $540,315. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Gerald Johnson sold 27,122 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the transaction, the executive vice president now directly owns 71,506 shares of the company’s stock, valued at $3,236,361.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Christopher Hatto sold 3,500 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $45.00, for a total value of $157,500.00. Following the completion of the sale, the chief accounting officer now directly owns 12,007 shares of the company’s stock, valued at approximately $540,315. The disclosure for this sale can be found here. Insiders sold a total of 1,183,243 shares of company stock worth $53,203,153 over the last three months. 0.72% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on GM shares. Citigroup increased their price target on General Motors from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Mizuho boosted their price objective on General Motors from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Piper Sandler raised their price target on shares of General Motors from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Barclays upped their target price on General Motors from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on General Motors from $44.00 to $50.00 and gave the company a “hold” rating in a research report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.81.

General Motors Price Performance

General Motors stock traded up $0.80 during midday trading on Monday, reaching $48.52. 1,853,796 shares of the stock were exchanged, compared to its average volume of 15,873,707. General Motors has a 52 week low of $26.30 and a 52 week high of $49.35. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.97 and a current ratio of 1.16. The firm has a market cap of $55.36 billion, a PE ratio of 5.83, a PEG ratio of 0.55 and a beta of 1.46. The company’s fifty day moving average is $45.20 and its 200-day moving average is $41.00.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.60. The firm had revenue of $43.01 billion for the quarter, compared to analysts’ expectations of $41.09 billion. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.21 earnings per share. On average, sell-side analysts forecast that General Motors will post 9.44 EPS for the current year.

General Motors declared that its board has approved a share repurchase plan on Tuesday, June 11th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the auto manufacturer to reacquire up to 10.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Friday, June 7th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date was Friday, June 7th. General Motors’s dividend payout ratio is currently 5.87%.

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.