CVA Family Office LLC Purchases 798 Shares of General Motors (NYSE:GM)

CVA Family Office LLC increased its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 58.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,165 shares of the auto manufacturer’s stock after acquiring an additional 798 shares during the quarter. CVA Family Office LLC’s holdings in General Motors were worth $101,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of GM. Capital World Investors grew its position in shares of General Motors by 14.6% in the 1st quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock worth $2,211,609,000 after buying an additional 6,201,777 shares during the last quarter. Putnam Investments LLC increased its position in General Motors by 16.8% during the 4th quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock valued at $726,942,000 after buying an additional 2,905,689 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake 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 valued at $650,062,000 after buying an additional 3,247,050 shares during the last quarter. Norges Bank purchased a new stake in shares of General Motors during the fourth quarter worth about $602,280,000. Finally, Franklin Resources Inc. grew its stake in shares of General Motors by 12.0% during the fourth quarter. Franklin Resources Inc. now owns 13,731,249 shares of the auto manufacturer’s stock worth $493,226,000 after acquiring an additional 1,472,297 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

Insiders Place Their Bets

In other news, President Mark L. Reuss sold 150,000 shares of General Motors stock in a transaction 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 transaction, the president now owns 176,907 shares in the company, valued at approximately $7,684,840.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, President Mark L. Reuss sold 150,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total value of $6,516,000.00. Following the transaction, the president now owns 176,907 shares of the company’s stock, valued at approximately $7,684,840.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Mark L. Reuss sold 14,858 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $46.01, for a total value of $683,616.58. Following the sale, the president now directly owns 162,049 shares of the company’s stock, valued at $7,455,874.49. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,152,621 shares of company stock valued at $51,818,111. Insiders own 0.72% of the company’s stock.

General Motors Price Performance

NYSE GM traded up $0.04 during mid-day trading on Wednesday, hitting $40.65. The stock had a trading volume of 11,240,147 shares, compared to its average volume of 16,007,718. The firm’s 50 day moving average is $46.27 and its 200 day moving average is $43.42. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99. The stock has a market capitalization of $46.38 billion, a price-to-earnings ratio of 4.97, a PEG ratio of 0.44 and a beta of 1.43. General Motors has a twelve month low of $26.30 and a twelve month high of $50.50.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.67 by $0.39. The business had revenue of $47.97 billion during the quarter, compared to analysts’ expectations of $45.13 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.91 earnings per share. Equities research analysts forecast that General Motors will post 9.94 earnings per share for the current fiscal year.

General Motors declared that its board has approved a share repurchase program on Tuesday, June 11th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the auto manufacturer to purchase up to 10.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, September 6th will be given a $0.12 dividend. The ex-dividend date is Friday, September 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.18%. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GM. Citigroup lifted their target price on shares of General Motors from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Wells Fargo & Company raised their target price on General Motors from $32.00 to $34.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 24th. Wedbush reiterated an “outperform” rating and set a $55.00 price target on shares of General Motors in a research note on Wednesday, July 24th. UBS Group upped their target price on General Motors from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of General Motors from $44.00 to $50.00 and gave the company a “hold” rating in a research note on Tuesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, General Motors has an average rating of “Moderate Buy” and an average target price of $55.27.

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.