Tandem Capital Management Corp ADV Has $1.94 Million Stock Position in General Motors (NYSE:GM)

Tandem Capital Management Corp ADV lessened its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 7.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,336 shares of the auto manufacturer’s stock after selling 3,435 shares during the quarter. Tandem Capital Management Corp ADV’s holdings in General Motors were worth $1,943,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its position in shares of General Motors by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,536,428 shares of the auto manufacturer’s stock valued at $69,677,000 after buying an additional 129,128 shares during the last quarter. Norden Group LLC bought a new position in General Motors during the first quarter worth $493,000. First Trust Direct Indexing L.P. increased its holdings in shares of General Motors by 46.3% in the first quarter. First Trust Direct Indexing L.P. now owns 28,753 shares of the auto manufacturer’s stock valued at $1,304,000 after purchasing an additional 9,099 shares during the last quarter. J.W. Cole Advisors Inc. raised its position in shares of General Motors by 12.3% in the first quarter. J.W. Cole Advisors Inc. now owns 12,948 shares of the auto manufacturer’s stock valued at $587,000 after purchasing an additional 1,418 shares during the period. Finally, Mission Wealth Management LP acquired a new stake in shares of General Motors during the 1st quarter worth about $262,000. 92.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on GM shares. JPMorgan Chase & Co. upped their price target on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Nomura downgraded General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price on the stock. in a research report on Monday, August 5th. Morgan Stanley cut General Motors from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $47.00 to $42.00 in a report on Wednesday, September 25th. Sanford C. Bernstein upped their price objective on General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Friday, October 25th. Finally, Barclays lifted their target price on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $56.92.

Insiders Place Their Bets

In related news, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the sale, the chief executive officer now owns 694,548 shares of the company’s stock, valued at $37,040,244.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Mary T. Barra sold 506,824 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the transaction, the chief executive officer now owns 694,548 shares of the company’s stock, valued at $37,040,244.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Rory Harvey sold 12,795 shares of General Motors stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $49.02, for a total transaction of $627,210.90. Following the sale, the executive vice president now owns 8,513 shares in the company, valued at approximately $417,307.26. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 531,228 shares of company stock valued at $28,267,714. 0.72% of the stock is currently owned by insiders.

General Motors Price Performance

General Motors stock opened at $51.96 on Thursday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.21. General Motors has a 52 week low of $26.30 and a 52 week high of $54.29. The stock has a market capitalization of $57.14 billion, a P/E ratio of 5.54, a price-to-earnings-growth ratio of 0.60 and a beta of 1.42. The stock has a fifty day moving average of $48.17 and a 200-day moving average of $46.37.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping the consensus estimate of $2.49 by $0.47. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The firm had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. During the same quarter in the previous year, the firm earned $2.28 earnings per share. The business’s quarterly revenue was up 10.5% on a year-over-year basis. On average, sell-side analysts expect that General Motors will post 10.05 earnings per share for the current fiscal year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.92%. General Motors’s payout ratio is presently 5.12%.

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.