November 10, 2019 at 9:34 pm

Private Ocean LLC Takes $31,000 Position in General Motors (NYSE:GM)

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Private Ocean LLC purchased a new stake in General Motors (NYSE:GM) (TSE:GMM.U) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 816 shares of the auto manufacturer’s stock, valued at approximately $31,000.

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Other institutional investors have also made changes to their positions in the company. Next Capital Management LLC purchased a new stake in General Motors during the 2nd quarter worth about $25,000. Trust Co. of Vermont increased its holdings in General Motors by 101.2% during the 2nd quarter. Trust Co. of Vermont now owns 666 shares of the auto manufacturer’s stock worth $26,000 after purchasing an additional 335 shares during the period. Advisors Preferred LLC purchased a new stake in General Motors during the 2nd quarter worth about $26,000. Massey Quick Simon & CO. LLC purchased a new stake in General Motors during the 3rd quarter worth about $26,000. Finally, Quest Capital Management Inc. ADV purchased a new stake in General Motors during the 3rd quarter worth about $26,000. 77.03% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have weighed in on the company. Bank of America set a $55.00 price target on General Motors and gave the stock a “buy” rating in a report on Tuesday, October 15th. Evercore ISI set a $50.00 price target on General Motors and gave the stock a “buy” rating in a report on Wednesday, August 7th. Royal Bank of Canada upped their price target on General Motors to $52.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. They noted that the move was a valuation call. Morgan Stanley set a $46.00 price objective on General Motors and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Finally, Citigroup upped their price objective on General Motors from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. General Motors has an average rating of “Buy” and a consensus target price of $47.00.

Shares of NYSE:GM traded up $0.18 on Friday, hitting $38.67. 5,816,834 shares of the company’s stock were exchanged, compared to its average volume of 8,734,329. The firm’s 50-day moving average is $36.58 and its 200 day moving average is $37.51. The company has a market capitalization of $54.62 billion, a PE ratio of 5.91, a P/E/G ratio of 0.73 and a beta of 1.40. General Motors has a 1-year low of $31.46 and a 1-year high of $41.90. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.82 and a current ratio of 0.96.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, October 29th. The auto manufacturer reported $1.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.54. The business had revenue of $35.50 billion during the quarter, compared to analysts’ expectations of $35.21 billion. General Motors had a return on equity of 19.78% and a net margin of 6.19%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.87 EPS. On average, analysts anticipate that General Motors will post 4.85 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be given a $0.38 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.93%. General Motors’s dividend payout ratio (DPR) is presently 23.24%.

In related news, EVP Matthew Tsien sold 83,067 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $39.50, for a total value of $3,281,146.50. Following the completion of the sale, the executive vice president now directly owns 84,667 shares of the company’s stock, valued at approximately $3,344,346.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.51% of the stock is owned by corporate insiders.

About General Motors

General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

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Want to see what other hedge funds are holding GM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Motors (NYSE:GM) (TSE:GMM.U).

Institutional Ownership by Quarter for General Motors (NYSE:GM)

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