Elgethun Capital Management Cuts Stock Holdings in General Motors (NYSE:GM)

Elgethun Capital Management cut its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 48.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,365 shares of the auto manufacturer’s stock after selling 2,247 shares during the quarter. Elgethun Capital Management’s holdings in General Motors were worth $126,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of GM. Trust Point Inc. lifted its position in General Motors by 2.7% in the 4th quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer’s stock worth $386,000 after buying an additional 193 shares during the last quarter. Continuum Advisory LLC lifted its holdings in shares of General Motors by 7.9% in the 3rd quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer’s stock worth $131,000 after acquiring an additional 213 shares during the last quarter. Holistic Planning LLC boosted its stake in shares of General Motors by 3.9% in the 4th quarter. Holistic Planning LLC now owns 5,759 shares of the auto manufacturer’s stock valued at $307,000 after purchasing an additional 214 shares in the last quarter. Nemes Rush Group LLC grew its holdings in shares of General Motors by 18.7% during the 4th quarter. Nemes Rush Group LLC now owns 1,379 shares of the auto manufacturer’s stock valued at $73,000 after purchasing an additional 217 shares during the last quarter. Finally, Norden Group LLC raised its position in General Motors by 3.0% in the 4th quarter. Norden Group LLC now owns 7,906 shares of the auto manufacturer’s stock worth $421,000 after purchasing an additional 229 shares during the period. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Activity at General Motors

In other news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of General Motors stock in a transaction on Thursday, January 30th. The stock was acquired at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the purchase, the director now owns 13,714 shares in the company, valued at $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.72% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

GM has been the topic of a number of recent research reports. TD Cowen assumed coverage on General Motors in a research note on Friday, March 7th. They set a “buy” rating and a $105.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upgraded General Motors from a “hold” rating to a “buy” rating and raised their price target for the stock from $56.00 to $60.00 in a research report on Tuesday, January 21st. Piper Sandler boosted their price objective on General Motors from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, March 20th. UBS Group restated a “buy” rating on shares of General Motors in a report on Monday, February 3rd. Finally, The Goldman Sachs Group set a $73.00 price target on shares of General Motors in a report on Saturday, March 1st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $62.11.

General Motors Stock Performance

Shares of General Motors stock opened at $44.22 on Monday. General Motors has a 12 month low of $38.96 and a 12 month high of $61.24. The firm has a market capitalization of $44.00 billion, a P/E ratio of 7.19, a P/E/G ratio of 0.67 and a beta of 1.27. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The business has a fifty day simple moving average of $48.22 and a two-hundred day simple moving average of $50.58.

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 (EPS) for the quarter, beating 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%. On average, equities analysts forecast that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 26th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the auto manufacturer to reacquire up to 12.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.09%. General Motors’s payout ratio is currently 7.80%.

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.