Ingalls & Snyder LLC Sells 502 Shares of General Motors (NYSE:GM)

Ingalls & Snyder LLC lessened its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 10.0% during the 4th quarter, HoldingsChannel reports. The firm owned 4,502 shares of the auto manufacturer’s stock after selling 502 shares during the period. Ingalls & Snyder LLC’s holdings in General Motors were worth $240,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Van ECK Associates Corp lifted its holdings in shares of General Motors by 16.1% during the 4th quarter. Van ECK Associates Corp now owns 41,091 shares of the auto manufacturer’s stock valued at $2,189,000 after purchasing an additional 5,707 shares in the last quarter. Kentucky Trust Co bought a new stake in General Motors in the 4th quarter valued at approximately $149,000. Gladstone Institutional Advisory LLC lifted its stake in General Motors by 4.6% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 14,807 shares of the auto manufacturer’s stock valued at $789,000 after acquiring an additional 657 shares in the last quarter. Certuity LLC lifted its stake in General Motors by 9.7% in the 4th quarter. Certuity LLC now owns 5,848 shares of the auto manufacturer’s stock valued at $312,000 after acquiring an additional 518 shares in the last quarter. Finally, Portfolio Design Labs LLC lifted its stake in General Motors by 29.3% in the 4th quarter. Portfolio Design Labs LLC now owns 49,567 shares of the auto manufacturer’s stock valued at $2,640,000 after acquiring an additional 11,227 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

General Motors Stock Performance

Shares of NYSE GM opened at $48.33 on Friday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The stock’s fifty day moving average price is $51.26 and its two-hundred day moving average price is $49.95. General Motors has a one year low of $38.13 and a one year high of $61.24. The firm has a market cap of $48.09 billion, a price-to-earnings ratio of 7.86, a P/E/G ratio of 0.68 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. On average, equities analysts forecast that General Motors will post 11.28 EPS for the current year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Friday, March 7th. General Motors’s dividend payout ratio is 7.80%.

Insider Buying and Selling at General Motors

In related news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was purchased at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the transaction, the director now owns 13,714 shares in the company, valued at $694,751.24. The trade was a 700.12 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Rory Harvey sold 8,919 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $60.01, for a total value of $535,229.19. Following the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $510,865.13. The trade was a 51.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on GM. Royal Bank of Canada boosted their target price on General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein boosted their target price on General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. Wedbush boosted their target price on General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. StockNews.com lowered General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, Hsbc Global Res lowered General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, General Motors has an average rating of “Hold” and a consensus price target of $61.28.

About General Motors

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.