Hexagon Capital Partners LLC Sells 421 Shares of General Motors (NYSE:GM)

Hexagon Capital Partners LLC lessened its position in General Motors (NYSE:GM) (TSE:GMM.U) by 6.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,217 shares of the auto manufacturer’s stock after selling 421 shares during the period. Hexagon Capital Partners LLC’s holdings in General Motors were worth $282,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of GM. Highlander Capital Management LLC bought a new stake in shares of General Motors in the fourth quarter worth about $27,000. Cape Investment Advisory Inc. grew its position in shares of General Motors by 75.9% in the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after buying an additional 359 shares during the last quarter. Sachetta LLC purchased a new position in shares of General Motors during the fourth quarter valued at approximately $33,000. Bfsg LLC bought a new position in shares of General Motors during the fourth quarter valued at approximately $35,000. Finally, Tennessee Valley Asset Management Partners bought a new stake in General Motors in the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Buying and Selling

In other General Motors news, President Mark L. Reuss sold 150,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the completion of the sale, the president now directly owns 176,907 shares in the company, valued at approximately $7,684,840.08. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Mary T. Barra sold 626,316 shares of the business’s 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 completion of the sale, the chief executive officer now directly owns 1,198,648 shares in the company, valued at $52,093,242.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Mark L. Reuss sold 150,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the completion of the transaction, the president now owns 176,907 shares in the company, valued at $7,684,840.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,152,621 shares of company stock worth $51,818,111. 0.72% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

GM has been the subject of several research analyst reports. Mizuho raised their target price on shares of General Motors from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Barclays increased their target price on General Motors from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Piper Sandler lifted their price target on General Motors from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Morgan Stanley increased their price objective on General Motors from $43.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, April 10th. Finally, Citigroup boosted their target price on shares of General Motors from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. One investment 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $54.91.

General Motors Price Performance

Shares of NYSE GM opened at $46.68 on Tuesday. The firm has a market cap of $53.26 billion, a P/E ratio of 5.71, a PEG ratio of 0.49 and a beta of 1.43. General Motors has a twelve month low of $26.30 and a twelve month high of $49.35. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 1.22. The company has a 50 day moving average of $45.60 and a 200 day moving average of $41.45.

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

General Motors announced that its board has approved a stock repurchase program on Tuesday, June 11th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to repurchase up to 10.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Friday, June 7th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.03%. General Motors’s dividend payout ratio (DPR) is 5.87%.

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.