Cumberland Partners Ltd Sells 15,160 Shares of General Motors (NYSE:GM)

Cumberland Partners Ltd lessened its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 3.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 382,870 shares of the auto manufacturer’s stock after selling 15,160 shares during the period. General Motors accounts for about 1.1% of Cumberland Partners Ltd’s portfolio, making the stock its 25th largest position. Cumberland Partners Ltd’s holdings in General Motors were worth $12,623,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Highlander Capital Management LLC acquired a new position in shares of General Motors during the 4th quarter valued at $27,000. SouthState Corp raised its holdings in General Motors by 173.8% during the third quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock worth $25,000 after buying an additional 485 shares during the last quarter. Tennessee Valley Asset Management Partners acquired a new position in General Motors during the fourth quarter worth $36,000. BluePath Capital Management LLC acquired a new position in General Motors during the third quarter worth $33,000. Finally, Venturi Wealth Management LLC raised its holdings in General Motors by 74.6% during the fourth quarter. Venturi Wealth Management LLC now owns 1,229 shares of the auto manufacturer’s stock worth $44,000 after buying an additional 525 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on GM shares. Deutsche Bank Aktiengesellschaft upped their price objective on shares of General Motors from $44.00 to $50.00 and gave the stock a “hold” rating in a report on Tuesday. Mizuho upped their price objective on shares of General Motors from $44.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, March 25th. Barclays upped their target price on shares of General Motors from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Wells Fargo & Company upped their target price on shares of General Motors from $27.00 to $28.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 31st. Finally, TheStreet upgraded shares of General Motors from a “c+” rating to a “b-” rating in a research note on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, General Motors presently has an average rating of “Moderate Buy” and an average price target of $52.52.

General Motors Stock Performance

NYSE:GM traded up $1.89 on Tuesday, reaching $45.10. 28,608,554 shares of the company’s stock were exchanged, compared to its average volume of 17,589,910. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.08 and a quick ratio of 0.90. The firm has a market cap of $52.06 billion, a price-to-earnings ratio of 6.17, a P/E/G ratio of 0.50 and a beta of 1.51. General Motors has a 52 week low of $26.30 and a 52 week high of $46.04. The stock has a fifty day simple moving average of $41.86 and a 200-day simple moving average of $36.06.

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 for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. The firm had revenue of $43.01 billion during the quarter, compared to analyst estimates of $41.09 billion. General Motors had a net margin of 5.89% and a return on equity of 14.34%. The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the business earned $2.21 earnings per share. As a group, sell-side analysts predict that General Motors will post 9.12 earnings per share for the current year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, June 7th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Friday, June 7th. General Motors’s payout ratio is 6.57%.

Insider Transactions at General Motors

In other news, CAO Christopher Hatto sold 15,510 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $40.02, for a total value of $620,710.20. Following the sale, the chief accounting officer now directly owns 21,507 shares of the company’s stock, valued at $860,710.14. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CAO Christopher Hatto sold 15,510 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $40.02, for a total value of $620,710.20. Following the sale, the chief accounting officer now directly owns 21,507 shares of the company’s stock, valued at $860,710.14. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Rory Harvey sold 5,100 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $43.04, for a total transaction of $219,504.00. Following the completion of the sale, the executive vice president now directly owns 12,658 shares in the company, valued at $544,800.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 86,248 shares of company stock valued at $3,614,078. 0.54% of the stock is currently owned by corporate 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.