General Motors (NYSE:GM) Shares Sold by Argyle Capital Management Inc.

Argyle Capital Management Inc. reduced its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 9.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,100 shares of the auto manufacturer’s stock after selling 6,875 shares during the quarter. Argyle Capital Management Inc.’s holdings in General Motors were worth $2,267,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GM. Highlander Capital Management LLC bought a new position in shares of General Motors in the fourth quarter valued at approximately $27,000. SouthState Corp raised its holdings in shares of 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 acquiring an additional 485 shares in the last quarter. Bfsg LLC acquired a new stake in General Motors during the fourth quarter valued at $35,000. Tennessee Valley Asset Management Partners purchased a new position in General Motors in the fourth quarter valued at about $36,000. Finally, BluePath Capital Management LLC purchased a new stake in shares of General Motors during the 3rd quarter worth about $33,000. Institutional investors own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on GM shares. Tigress Financial raised their price objective on shares of General Motors from $86.00 to $88.00 and gave the company a “strong-buy” rating in a research report on Thursday, February 15th. Royal Bank of Canada lifted their price objective on shares of General Motors from $54.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, April 23rd. Wedbush raised their target price on General Motors from $45.00 to $55.00 and gave the company an “outperform” rating in a report on Wednesday. Sanford C. Bernstein assumed coverage on General Motors in a research note on Thursday. They set an “outperform” rating and a $55.00 price target for the company. Finally, Morgan Stanley raised their price objective on General Motors from $43.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $54.65.

Insider Buying and Selling at General Motors

In other General Motors 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 transaction of $620,710.20. Following the sale, the chief accounting officer now owns 21,507 shares of the company’s stock, valued at approximately $860,710.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total value of $528,706.24. Following the sale, the executive vice president now owns 87,567 shares in the company, valued at approximately $3,348,562.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Christopher Hatto sold 15,510 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $40.02, for a total transaction of $620,710.20. Following the transaction, the chief accounting officer now directly owns 21,507 shares of the company’s stock, valued at $860,710.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 86,248 shares of company stock worth $3,614,078. 0.54% of the stock is currently owned by insiders.

General Motors Price Performance

GM traded up $0.22 during midday trading on Friday, reaching $45.84. 12,153,282 shares of the company’s stock were exchanged, compared to its average volume of 13,652,336. General Motors has a one year low of $26.30 and a one year high of $46.17. The company has a quick ratio of 0.90, a current ratio of 1.16 and a debt-to-equity ratio of 1.22. The business has a 50-day simple moving average of $42.27 and a two-hundred day simple moving average of $36.36. The firm has a market capitalization of $52.30 billion, a price-to-earnings ratio of 5.60, a price-to-earnings-growth ratio of 0.53 and a beta of 1.51.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The company had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. During the same period last year, the business earned $2.21 earnings per share. The business’s revenue was up 7.6% on a year-over-year basis. As a group, research analysts predict that General Motors will post 9.45 EPS for the current year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, June 7th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Friday, June 7th. General Motors’s payout ratio is 5.87%.

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.