Bank of New York Mellon Corp Cuts Holdings in General Motors (NYSE:GM)

Bank of New York Mellon Corp lowered its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 7.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,582,066 shares of the auto manufacturer’s stock after selling 921,889 shares during the quarter. Bank of New York Mellon Corp owned 1.16% of General Motors worth $616,977,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Addison Advisors LLC raised its position in General Motors by 12.6% during the fourth quarter. Addison Advisors LLC now owns 4,962 shares of the auto manufacturer’s stock valued at $264,000 after purchasing an additional 556 shares in the last quarter. IFP Advisors Inc increased its position in shares of General Motors by 282.8% during the 4th quarter. IFP Advisors Inc now owns 15,901 shares of the auto manufacturer’s stock valued at $847,000 after purchasing an additional 11,747 shares during the last quarter. Colonial River Investments LLC raised its holdings in shares of General Motors by 22.8% during the 4th quarter. Colonial River Investments LLC now owns 5,873 shares of the auto manufacturer’s stock valued at $313,000 after buying an additional 1,091 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in General Motors in the 4th quarter worth approximately $505,000. Finally, Howard Capital Management Inc. boosted its stake in General Motors by 0.4% in the fourth quarter. Howard Capital Management Inc. now owns 106,752 shares of the auto manufacturer’s stock worth $5,687,000 after buying an additional 446 shares in the last quarter. 92.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on GM shares. Deutsche Bank Aktiengesellschaft raised shares of General Motors from a “hold” rating to a “buy” rating and lifted their price target for the stock from $56.00 to $60.00 in a research note on Tuesday, January 21st. 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. Wells Fargo & Company reissued an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. Morgan Stanley raised General Motors from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $46.00 to $54.00 in a research note on Tuesday, December 10th. Finally, Mizuho boosted their target price on General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $59.71.

General Motors Stock Up 0.3 %

GM stock opened at $46.73 on Wednesday. The company has a market capitalization of $46.49 billion, a price-to-earnings ratio of 7.60, a price-to-earnings-growth ratio of 0.67 and a beta of 1.40. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. The business’s 50 day moving average price is $50.48 and its two-hundred day moving average price is $50.34. General Motors has a fifty-two week low of $38.94 and a fifty-two week high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, topping 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, analysts forecast that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be given a dividend of $0.12 per share. 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 1.03%. General Motors’s dividend payout ratio (DPR) is currently 7.80%.

Insider Buying and Selling

In other news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were bought at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the purchase, the director now directly owns 13,714 shares in the company, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.72% of the stock is currently owned by insiders.

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.