Procyon Advisors LLC Lowers Position in General Motors (NYSE:GM)

Procyon Advisors LLC reduced its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 1.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,055 shares of the auto manufacturer’s stock after selling 302 shares during the period. Procyon Advisors LLC’s holdings in General Motors were worth $1,494,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in GM. Strategic Investment Solutions Inc. IL purchased a new position in shares of General Motors during the 2nd quarter worth approximately $25,000. Catalyst Capital Advisors LLC acquired a new position in General Motors during the third quarter worth $27,000. Truvestments Capital LLC purchased a new position in General Motors in the third quarter worth $27,000. Eastern Bank acquired a new stake in General Motors in the third quarter valued at $34,000. Finally, Fairscale Capital LLC purchased a new stake in shares of General Motors during the 2nd quarter worth $36,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

GM has been the subject of several recent analyst reports. Royal Bank of Canada raised their price objective on shares of General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Hsbc Global Res downgraded shares of General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Barclays upped their price target on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Mizuho boosted their target price on General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Finally, JPMorgan Chase & Co. raised their price target on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Three analysts have rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $59.68.

Insider Activity at General Motors

In other General Motors news, CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the transaction, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at $37,040,244.84. The trade was a 42.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Mark L. Reuss sold 122,283 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the sale, the president now owns 126,907 shares of the company’s stock, valued at approximately $7,000,190.12. This represents a 49.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,030,475 shares of company stock worth $56,509,286. 0.72% of the stock is owned by insiders.

General Motors Stock Down 1.8 %

Shares of NYSE:GM opened at $50.90 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24. The firm has a market cap of $55.97 billion, a price-to-earnings ratio of 5.43, a PEG ratio of 0.36 and a beta of 1.42. The stock’s 50-day moving average price is $53.69 and its two-hundred day moving average price is $49.59. General Motors has a 12-month low of $34.32 and a 12-month high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.47. The business had revenue of $48.76 billion for the quarter, compared to analysts’ expectations of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The company’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period last year, the company earned $2.28 earnings per share. On average, research analysts forecast that General Motors will post 10.34 EPS for the current year.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Friday, December 6th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend was Friday, December 6th. General Motors’s dividend payout ratio (DPR) is currently 5.12%.

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.