Kestra Private Wealth Services LLC Sells 1,956 Shares of General Motors (NYSE:GM)

Kestra Private Wealth Services LLC trimmed its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 6.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,689 shares of the auto manufacturer’s stock after selling 1,956 shares during the period. Kestra Private Wealth Services LLC’s holdings in General Motors were worth $1,582,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of GM. Geode Capital Management LLC raised its position in General Motors by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 23,620,533 shares of the auto manufacturer’s stock worth $1,055,395,000 after purchasing an additional 106,878 shares during the period. Hotchkis & Wiley Capital Management LLC grew its stake in shares of General Motors by 6.1% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer’s stock valued at $774,766,000 after buying an additional 989,750 shares during the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of General Motors by 3.9% in the third quarter. Diamond Hill Capital Management Inc. now owns 11,113,063 shares of the auto manufacturer’s stock worth $498,310,000 after buying an additional 421,989 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in shares of General Motors by 6.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 5,798,131 shares of the auto manufacturer’s stock worth $259,988,000 after acquiring an additional 358,507 shares during the last quarter. Finally, Ninety One UK Ltd boosted its holdings in General Motors by 38.7% during the 4th quarter. Ninety One UK Ltd now owns 4,089,633 shares of the auto manufacturer’s stock valued at $217,855,000 after acquiring an additional 1,140,569 shares during the period. Institutional investors own 92.67% of the company’s stock.

Insiders Place Their Bets

In other General Motors news, EVP Rory Harvey sold 8,919 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $60.01, for a total value of $535,229.19. Following the sale, the executive vice president now owns 8,513 shares in the company, valued at approximately $510,865.13. This represents a 51.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Alfred F. Kelly, Jr. bought 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was purchased at an average price of $50.66 per share, with a total value of $607,920.00. Following the completion of the purchase, the director now owns 13,714 shares in the company, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.72% of the stock is currently owned by insiders.

General Motors Price Performance

Shares of GM opened at $47.71 on Thursday. General Motors has a twelve month low of $37.83 and a twelve month high of $61.24. The company has a 50 day moving average of $51.49 and a two-hundred day moving average of $49.98. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. The company has a market cap of $47.47 billion, a price-to-earnings ratio of 7.76, a price-to-earnings-growth ratio of 0.68 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. As a group, analysts predict that General Motors will post 11.28 earnings per share for the current fiscal year.

General Motors Announces Dividend

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

Analyst Ratings Changes

A number of research firms have weighed in on GM. Wedbush increased their target price on General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Barclays raised their price target on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Hsbc Global Res cut shares of General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. JPMorgan Chase & Co. upped their target price on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company lifted their price target on shares of General Motors from $35.00 to $37.00 and gave the company an “underweight” rating in a research note on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, eight have issued 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 company currently has an average rating of “Hold” and a consensus price target of $61.28.

General Motors Company 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.