DekaBank Deutsche Girozentrale Has $21.59 Million Position in General Motors (NYSE:GM)

DekaBank Deutsche Girozentrale reduced its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 9.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 482,094 shares of the auto manufacturer’s stock after selling 50,876 shares during the period. DekaBank Deutsche Girozentrale’s holdings in General Motors were worth $21,591,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. LifeSteps Financial Inc. bought a new position in General Motors during the 1st quarter worth $25,000. Montag A & Associates Inc. bought a new position in General Motors during the 1st quarter worth $30,000. YHB Investment Advisors Inc. bought a new position in General Motors during the 1st quarter worth $32,000. LRI Investments LLC bought a new position in General Motors during the 1st quarter worth $34,000. Finally, Highlander Capital Management LLC bought a new position in General Motors during the 4th quarter worth $27,000. 92.67% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GM has been the topic of a number of recent research reports. Piper Sandler raised their price objective on General Motors from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Bank of America restated a “buy” rating and set a $75.00 price objective on shares of General Motors in a research note on Wednesday, June 12th. JPMorgan Chase & Co. lifted their price target on General Motors from $60.00 to $61.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Sanford C. Bernstein assumed coverage on General Motors in a report on Thursday, April 25th. They set an “outperform” rating and a $55.00 target price on the stock. Finally, UBS Group lifted their target price on General Motors from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, General Motors presently has an average rating of “Moderate Buy” and an average price target of $56.38.

Insider Buying and Selling

In other news, CEO Mary T. Barra sold 626,316 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the transaction, the chief executive officer now directly owns 1,198,648 shares in the company, valued at $52,093,242.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, President Mark L. Reuss sold 14,858 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $46.01, for a total transaction of $683,616.58. Following the completion of the transaction, the president now owns 162,049 shares of the company’s stock, valued at $7,455,874.49. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mary T. Barra sold 626,316 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the transaction, the chief executive officer now directly owns 1,198,648 shares of the company’s stock, valued at approximately $52,093,242.08. The disclosure for this sale can be found here. Insiders have sold 1,152,621 shares of company stock valued at $51,818,111 in the last ninety days. 0.72% of the stock is owned by company insiders.

General Motors Price Performance

Shares of NYSE GM traded down $2.20 during mid-day trading on Friday, hitting $41.17. 21,627,018 shares of the company’s stock traded hands, compared to its average volume of 15,552,034. The company’s 50-day moving average is $46.40 and its two-hundred day moving average is $43.23. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99. The company has a market capitalization of $46.27 billion, a P/E ratio of 5.03, a PEG ratio of 0.44 and a beta of 1.43. General Motors has a 1 year low of $26.30 and a 1 year high of $50.50.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.67 by $0.39. The firm had revenue of $47.97 billion for the quarter, compared to analysts’ expectations of $45.13 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The business’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.91 EPS. On average, equities analysts anticipate that General Motors will post 9.94 EPS for the current fiscal year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Friday, September 6th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Friday, September 6th. General Motors’s dividend payout ratio (DPR) is currently 5.87%.

General Motors declared that its board has authorized a share repurchase program on Tuesday, June 11th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the auto manufacturer to repurchase up to 10.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management 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.