Stoneridge Investment Partners LLC Sells 70,362 Shares of General Motors (NYSE:GM)

Stoneridge Investment Partners LLC reduced its position in General Motors (NYSE:GM) (TSE:GMM.U) by 39.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 108,081 shares of the auto manufacturer’s stock after selling 70,362 shares during the quarter. General Motors makes up about 2.1% of Stoneridge Investment Partners LLC’s holdings, making the stock its 12th largest position. Stoneridge Investment Partners LLC’s holdings in General Motors were worth $5,757,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. raised its stake in shares of General Motors by 19.7% during the 4th quarter. Blue Trust Inc. now owns 9,164 shares of the auto manufacturer’s stock valued at $488,000 after purchasing an additional 1,510 shares during the period. Chicago Partners Investment Group LLC increased its position in shares of General Motors by 15.9% during the third quarter. Chicago Partners Investment Group LLC now owns 11,382 shares of the auto manufacturer’s stock valued at $510,000 after buying an additional 1,559 shares during the period. Donald Smith & CO. Inc. lifted its holdings in shares of General Motors by 12.1% in the third quarter. Donald Smith & CO. Inc. now owns 1,629,573 shares of the auto manufacturer’s stock worth $73,070,000 after buying an additional 175,860 shares in the last quarter. Foster & Motley Inc. boosted its position in shares of General Motors by 121.5% in the third quarter. Foster & Motley Inc. now owns 47,169 shares of the auto manufacturer’s stock valued at $2,115,000 after acquiring an additional 25,869 shares during the period. Finally, Olstein Capital Management L.P. grew its stake in General Motors by 14.9% during the third quarter. Olstein Capital Management L.P. now owns 162,000 shares of the auto manufacturer’s stock valued at $7,264,000 after acquiring an additional 21,000 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors.

General Motors Trading Down 1.2 %

NYSE GM opened at $47.35 on Friday. The firm has a market cap of $47.12 billion, a PE ratio of 7.70, a price-to-earnings-growth ratio of 0.68 and a beta of 1.40. General Motors has a 1-year low of $37.83 and a 1-year high of $61.24. The stock has a 50-day moving average of $51.80 and a 200-day moving average of $49.90. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. As a group, sell-side analysts forecast that General Motors will post 11.28 EPS for the current year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Friday, March 7th. General Motors’s dividend payout ratio (DPR) is presently 7.80%.

Insider Buying and Selling at General Motors

In other General Motors news, EVP Craig B. Glidden sold 383,142 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the transaction, the executive vice president now directly owns 122,465 shares of the company’s stock, valued at approximately $6,935,192.95. The trade was a 75.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Rory Harvey sold 8,919 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $60.01, for a total transaction of $535,229.19. Following the completion of the sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at approximately $510,865.13. This represents a 51.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on GM shares. UBS Group increased their target price on shares of General Motors from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Royal Bank of Canada increased their price objective on General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upgraded General Motors from a “hold” rating to a “buy” rating and boosted their target price for the stock from $56.00 to $60.00 in a research report on Tuesday, January 21st. Wedbush raised their price target on General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company boosted their price objective on General Motors from $35.00 to $37.00 and gave the stock an “underweight” rating in a report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $61.28.

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.