Sendero Wealth Management LLC Sells 4,435 Shares of General Motors (NYSE:GM)

Sendero Wealth Management LLC cut its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 35.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 8,098 shares of the auto manufacturer’s stock after selling 4,435 shares during the period. Sendero Wealth Management LLC’s holdings in General Motors were worth $367,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. LPL Financial LLC grew its position in General Motors by 9.7% during the third quarter. LPL Financial LLC now owns 557,585 shares of the auto manufacturer’s stock valued at $18,384,000 after acquiring an additional 49,419 shares during the last quarter. Cary Street Partners Investment Advisory LLC lifted its stake in General Motors by 24.6% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 5,020 shares of the auto manufacturer’s stock worth $166,000 after purchasing an additional 990 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its position in General Motors by 8.2% during the third quarter. O Shaughnessy Asset Management LLC now owns 26,676 shares of the auto manufacturer’s stock valued at $880,000 after buying an additional 2,033 shares during the period. MQS Management LLC grew its stake in shares of General Motors by 10.6% during the third quarter. MQS Management LLC now owns 8,208 shares of the auto manufacturer’s stock valued at $271,000 after buying an additional 787 shares during the last quarter. Finally, Vinva Investment Management Ltd increased its holdings in shares of General Motors by 526.7% in the third quarter. Vinva Investment Management Ltd now owns 37,871 shares of the auto manufacturer’s stock worth $1,256,000 after buying an additional 31,828 shares during the period. 92.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on GM shares. Sanford C. Bernstein assumed coverage on shares of General Motors in a report on Thursday, April 25th. They set an “outperform” rating and a $55.00 price target for the company. StockNews.com upgraded shares of General Motors from a “hold” rating to a “buy” rating in a report on Saturday, June 1st. Bank of America restated a “buy” rating and set a $75.00 price target on shares of General Motors in a report on Wednesday, June 12th. Barclays increased their price objective on General Motors from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Finally, Wedbush boosted their target price on General Motors from $45.00 to $55.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $54.91.

Insiders Place Their Bets

In other news, CEO Mary T. Barra sold 326,305 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $48.33, for a total transaction of $15,770,320.65. Following the transaction, the chief executive officer now directly owns 898,648 shares of the company’s stock, valued at $43,431,657.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Mary T. Barra sold 326,305 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $48.33, for a total transaction of $15,770,320.65. Following the completion of the transaction, the chief executive officer now directly owns 898,648 shares of the company’s stock, valued at $43,431,657.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Mark L. Reuss sold 35,142 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $46.34, for a total transaction of $1,628,480.28. Following the completion of the sale, the president now owns 126,907 shares in the company, valued at approximately $5,880,870.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,152,621 shares of company stock valued at $51,818,111. Corporate insiders own 0.72% of the company’s stock.

General Motors Stock Up 1.9 %

General Motors stock traded up $0.87 during mid-day trading on Friday, hitting $46.45. The company had a trading volume of 15,020,188 shares, compared to its average volume of 16,183,494. General Motors has a 12 month low of $26.30 and a 12 month high of $49.35. The company has a market capitalization of $52.99 billion, a PE ratio of 5.68, a price-to-earnings-growth ratio of 0.48 and a beta of 1.46. The stock’s 50 day moving average price is $45.60 and its two-hundred day moving average price is $41.35. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 1.22.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, beating the consensus estimate of $2.02 by $0.60. The company had revenue of $43.01 billion for the quarter, compared to the consensus estimate of $41.09 billion. General Motors had a net margin of 6.13% and a return on equity of 14.40%. General Motors’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.21 EPS. As a group, sell-side analysts anticipate that General Motors will post 9.43 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Friday, June 7th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.48 annualized dividend and a yield of 1.03%. General Motors’s dividend payout ratio is 5.87%.

General Motors declared that its Board of Directors has initiated a stock repurchase program on Tuesday, June 11th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the auto manufacturer to repurchase up to 10.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

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.