Hartford Investment Management Co. Trims Position in General Motors (NYSE:GM)

Hartford Investment Management Co. decreased its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 4.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 67,995 shares of the auto manufacturer’s stock after selling 3,144 shares during the period. Hartford Investment Management Co.’s holdings in General Motors were worth $3,622,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new stake in shares of General Motors in the 4th quarter worth about $25,000. Crews Bank & Trust bought a new position in General Motors in the fourth quarter worth about $26,000. Catalyst Capital Advisors LLC purchased a new stake in General Motors in the third quarter worth about $27,000. Truvestments Capital LLC bought a new stake in General Motors during the 3rd quarter valued at approximately $27,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of General Motors during the 4th quarter worth approximately $28,000. Institutional investors own 92.67% of the company’s stock.

Insider Activity

In other General Motors news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of General Motors stock in a transaction dated Thursday, January 30th. The stock was purchased at an average price of $50.66 per share, with a total value of $607,920.00. Following the transaction, the director now directly owns 13,714 shares of the company’s stock, valued at $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Rory Harvey sold 8,919 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $60.01, for a total transaction of $535,229.19. Following the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at $510,865.13. This trade represents 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 recently weighed in on GM. UBS Group lifted their price target on General Motors from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Wedbush upped their target price on shares of General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Wells Fargo & Company upped their price objective on shares of General Motors from $35.00 to $37.00 and gave the stock an “underweight” rating in a report on Wednesday, January 29th. Finally, Morgan Stanley raised shares of General Motors from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $46.00 to $54.00 in a research note on Tuesday, December 10th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, General Motors has an average rating of “Hold” and an average target price of $61.28.

General Motors Trading Up 2.2 %

General Motors stock opened at $47.71 on Thursday. General Motors has a one year low of $37.83 and a one year high of $61.24. The business’s fifty day moving average is $51.49 and its 200 day moving average is $49.98. The stock has a market capitalization of $47.47 billion, a PE ratio of 7.76, a price-to-earnings-growth ratio of 0.68 and a beta of 1.40. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98.

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

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.01%. General Motors’s dividend payout ratio is presently 7.80%.

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.