General Motors (NYSE:GM) Shares Sold by Hexagon Capital Partners LLC

Hexagon Capital Partners LLC decreased its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 6.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,217 shares of the auto manufacturer’s stock after selling 421 shares during the quarter. Hexagon Capital Partners LLC’s holdings in General Motors were worth $282,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Claro Advisors LLC increased its holdings in shares of General Motors by 17.3% during the first quarter. Claro Advisors LLC now owns 7,184 shares of the auto manufacturer’s stock valued at $326,000 after acquiring an additional 1,057 shares in the last quarter. HFG Advisors Inc. purchased a new stake in shares of General Motors during the first quarter valued at $341,000. Dumont & Blake Investment Advisors LLC increased its position in shares of General Motors by 1.5% in the 1st quarter. Dumont & Blake Investment Advisors LLC now owns 21,723 shares of the auto manufacturer’s stock valued at $985,000 after acquiring an additional 311 shares during the period. Founders Financial Securities LLC raised its stake in General Motors by 21.8% in the 1st quarter. Founders Financial Securities LLC now owns 19,614 shares of the auto manufacturer’s stock worth $889,000 after acquiring an additional 3,510 shares during the last quarter. Finally, Vicus Capital lifted its position in General Motors by 22.2% during the 1st quarter. Vicus Capital now owns 10,285 shares of the auto manufacturer’s stock worth $466,000 after acquiring an additional 1,870 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at General Motors

In related news, CEO Mary T. Barra sold 626,316 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the completion of the sale, the chief executive officer now owns 1,198,648 shares of the company’s stock, valued at approximately $52,093,242.08. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Mary T. Barra sold 626,316 shares of General Motors stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the sale, the chief executive officer now owns 1,198,648 shares of the company’s stock, valued at approximately $52,093,242.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Mark L. Reuss sold 14,858 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $46.01, for a total value of $683,616.58. Following the sale, the president now directly owns 162,049 shares of the company’s stock, valued at $7,455,874.49. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,152,621 shares of company stock worth $51,818,111. Corporate insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. TheStreet upgraded General Motors from a “c+” rating to a “b-” rating in a research note on Tuesday, March 19th. Mizuho upped their price objective on shares of General Motors from $48.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Wedbush raised their target price on shares of General Motors from $45.00 to $55.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Royal Bank of Canada increased their price target on General Motors from $54.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 23rd. Finally, Morgan Stanley boosted their price objective on General Motors from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, General Motors presently has an average rating of “Moderate Buy” and an average target price of $54.91.

General Motors Stock Performance

GM opened at $46.68 on Tuesday. The firm’s fifty day simple moving average is $45.60 and its two-hundred day simple moving average is $41.45. General Motors has a 52-week low of $26.30 and a 52-week high of $49.35. The company has a market cap of $53.26 billion, a price-to-earnings ratio of 5.71, a PEG ratio of 0.49 and a beta of 1.43. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 1.22.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The firm had revenue of $43.01 billion for the quarter, compared to analyst estimates of $41.09 billion. During the same period last year, the company posted $2.21 EPS. General Motors’s quarterly revenue was up 7.6% compared to the same quarter last year. Equities analysts anticipate that General Motors will post 9.43 earnings per share for the current fiscal year.

General Motors declared that its board has approved a share repurchase program on Tuesday, June 11th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the auto manufacturer to purchase up to 10.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

General Motors Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 1.03%. 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.