First Dallas Securities Inc. Sells 7,194 Shares of General Motors (NYSE:GM)

First Dallas Securities Inc. cut its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 40.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,458 shares of the auto manufacturer’s stock after selling 7,194 shares during the quarter. First Dallas Securities Inc.’s holdings in General Motors were worth $474,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in GM. Highlander Capital Management LLC bought a new position in shares of General Motors in the fourth quarter valued at $27,000. Cape Investment Advisory Inc. lifted its stake in shares of General Motors by 75.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock valued at $30,000 after buying an additional 359 shares in the last quarter. Sachetta LLC bought a new position in shares of General Motors in the fourth quarter valued at $33,000. Bfsg LLC bought a new position in shares of General Motors in the fourth quarter valued at $35,000. Finally, Tennessee Valley Asset Management Partners bought a new position in shares of General Motors in the fourth quarter valued at $36,000. 92.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Wedbush increased their target price on shares of General Motors from $45.00 to $55.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Barclays increased their target price on shares of General Motors from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, April 26th. TheStreet upgraded shares of General Motors from a “c+” rating to a “b-” rating in a report on Tuesday, March 19th. Citigroup increased their target price on shares of General Motors from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, UBS Group raised their price objective on shares of General Motors from $58.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $54.91.

Insider Buying and Selling at General Motors

In other General Motors news, President Mark L. Reuss sold 150,000 shares of General Motors stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the completion of the sale, the president now directly owns 176,907 shares in the company, valued at $7,684,840.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other General Motors 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 transaction, the chief executive officer now directly owns 1,198,648 shares of the company’s stock, valued at $52,093,242.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Mark L. Reuss sold 150,000 shares of General Motors stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the transaction, the president now directly owns 176,907 shares in the company, valued at $7,684,840.08. The disclosure for this sale can be found here. Insiders sold a total of 1,152,621 shares of company stock worth $51,818,111 over the last three months. 0.72% of the stock is owned by insiders.

General Motors Price Performance

Shares of GM stock traded up $0.88 during trading hours on Friday, reaching $46.46. The stock had a trading volume of 15,020,440 shares, compared to its average volume of 16,311,914. The stock’s fifty day simple moving average is $45.60 and its 200 day simple moving average is $41.35. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 1.22. General Motors has a 12 month low of $26.30 and a 12 month high of $49.35. The firm has a market capitalization of $53.01 billion, a PE ratio of 5.68, a PEG ratio of 0.48 and a beta of 1.46.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS 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 company had revenue of $43.01 billion during the quarter, compared to analyst estimates of $41.09 billion. During the same period last year, the business earned $2.21 earnings per share. General Motors’s revenue was up 7.6% compared to the same quarter last year. On average, equities research analysts predict that General Motors will post 9.43 EPS for the current year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Friday, June 7th were given a dividend of $0.12 per share. The ex-dividend date was Friday, June 7th. This represents a $0.48 annualized dividend and a yield of 1.03%. General Motors’s payout ratio is presently 5.87%.

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

About General Motors

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.