RDA Financial Network Cuts Stock Position in General Motors (NYSE:GM)

RDA Financial Network lessened its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 15.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,340 shares of the auto manufacturer’s stock after selling 1,490 shares during the period. RDA Financial Network’s holdings in General Motors were worth $378,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in General Motors by 1.4% in the third quarter. Vanguard Group Inc. now owns 111,460,756 shares of the auto manufacturer’s stock worth $3,674,861,000 after acquiring an additional 1,580,681 shares in the last quarter. Putnam Investments LLC boosted its holdings in General Motors by 16.8% in the fourth quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock worth $726,942,000 after acquiring an additional 2,905,689 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in General Motors by 21.9% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock worth $650,062,000 after acquiring an additional 3,247,050 shares in the last quarter. Norges Bank acquired a new stake in General Motors in the fourth quarter worth about $602,280,000. Finally, Morgan Stanley boosted its holdings in General Motors by 1.3% in the third quarter. Morgan Stanley now owns 15,212,672 shares of the auto manufacturer’s stock worth $501,562,000 after acquiring an additional 201,080 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Stock Performance

NYSE GM opened at $47.86 on Monday. The stock’s fifty day moving average is $45.20 and its two-hundred day moving average is $41.00. The firm has a market capitalization of $54.61 billion, a P/E ratio of 5.83, a price-to-earnings-growth ratio of 0.55 and a beta of 1.46. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.97 and a current ratio of 1.16. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $49.35.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. The company had revenue of $43.01 billion for the quarter, compared to analyst estimates of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.21 earnings per share. On average, research analysts anticipate that General Motors will post 9.44 earnings per share for the current year.

General Motors announced that its Board of Directors has authorized a stock buyback program on Tuesday, June 11th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to buy up to 10.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Friday, June 7th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Friday, June 7th. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

Insider Activity

In other news, EVP Gerald Johnson sold 27,122 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $45.26, for a total value of $1,227,541.72. Following the transaction, the executive vice president now owns 71,506 shares of the company’s stock, valued at approximately $3,236,361.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CAO Christopher Hatto sold 3,500 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $45.00, for a total transaction of $157,500.00. Following the transaction, the chief accounting officer now owns 12,007 shares of the company’s stock, valued at approximately $540,315. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Gerald Johnson sold 27,122 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $45.26, for a total value of $1,227,541.72. Following the transaction, the executive vice president now directly owns 71,506 shares in the company, valued at approximately $3,236,361.56. The disclosure for this sale can be found here. Insiders have sold a total of 1,183,243 shares of company stock valued at $53,203,153 in the last quarter. Insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. UBS Group lifted their target price on General Motors from $58.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday. Piper Sandler lifted their target price on General Motors from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Bank of America reaffirmed a “buy” rating and set a $75.00 target price on shares of General Motors in a report on Wednesday, June 12th. Royal Bank of Canada lifted their target price on General Motors from $54.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday, April 23rd. Finally, Barclays lifted their target price on General Motors from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $54.81.

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.