Carret Asset Management LLC Has $585,000 Stock Holdings in General Motors (NYSE:GM)

Carret Asset Management LLC trimmed its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 8.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,296 shares of the auto manufacturer’s stock after selling 1,423 shares during the period. Carret Asset Management LLC’s holdings in General Motors were worth $585,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Wynn Capital LLC bought a new position in shares of General Motors during the 4th quarter worth approximately $269,000. Bfsg LLC acquired a new position in General Motors during the 4th quarter worth $35,000. Alaska Permanent Fund Corp boosted its stake in shares of General Motors by 2.0% in the 4th quarter. Alaska Permanent Fund Corp now owns 65,718 shares of the auto manufacturer’s stock valued at $2,361,000 after purchasing an additional 1,318 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its position in shares of General Motors by 4,322.2% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 6,766 shares of the auto manufacturer’s stock worth $243,000 after purchasing an additional 6,613 shares during the last quarter. Finally, Mizuho Securities Co. Ltd. boosted its position in shares of General Motors by 88.7% in the 4th quarter. Mizuho Securities Co. Ltd. now owns 2,830 shares of the auto manufacturer’s stock worth $102,000 after purchasing an additional 1,330 shares during the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Price Performance

NYSE GM traded up $0.27 during trading on Thursday, hitting $45.35. 5,895,769 shares of the company’s stock were exchanged, compared to its average volume of 17,408,008. The company has a market cap of $52.35 billion, a PE ratio of 5.52, a P/E/G ratio of 0.53 and a beta of 1.51. The company has a current ratio of 1.16, a quick ratio of 0.90 and a debt-to-equity ratio of 1.22. The stock’s 50 day moving average price is $42.00 and its two-hundred day moving average price is $36.12. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $46.04.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. The business had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.21 EPS. Research analysts expect that General Motors will post 9.26 EPS for the current year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, June 7th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.48 annualized dividend and a yield of 1.06%. General Motors’s payout ratio is 5.87%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GM. Mizuho lifted their target price on General Motors from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays boosted their price target on General Motors from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Wedbush boosted their price objective on shares of General Motors from $45.00 to $55.00 and gave the stock an “outperform” rating in a research report on Wednesday. Tigress Financial upped their target price on General Motors from $86.00 to $88.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 15th. Finally, Citigroup upped their price objective on General Motors from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, four have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $54.38.

Insider Activity

In other General Motors news, EVP Gerald Johnson sold 27,122 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $3,236,361.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, 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 transaction, the chief accounting officer now directly owns 12,007 shares of the company’s stock, valued at approximately $540,315. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Gerald Johnson sold 27,122 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $45.26, for a total value 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 disclosure for this sale can be found here. In the last three months, insiders have sold 86,248 shares of company stock valued at $3,614,078. 0.54% of the stock is currently owned by insiders.

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.