General Motors (NYSE:GM) Stake Increased by Accurate Wealth Management LLC

Accurate Wealth Management LLC raised its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 102.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,174 shares of the auto manufacturer’s stock after acquiring an additional 8,175 shares during the quarter. Accurate Wealth Management LLC’s holdings in General Motors were worth $774,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its position in shares of General Motors by 24.5% during the 4th quarter. Wellington Management Group LLP now owns 1,949,498 shares of the auto manufacturer’s stock valued at $70,026,000 after acquiring an additional 384,022 shares in the last quarter. Wedmont Private Capital lifted its position in shares of General Motors by 10.4% in the 1st quarter. Wedmont Private Capital now owns 6,557 shares of the auto manufacturer’s stock worth $293,000 after buying an additional 619 shares during the last quarter. Park Avenue Securities LLC boosted its holdings in shares of General Motors by 16.7% in the 1st quarter. Park Avenue Securities LLC now owns 29,293 shares of the auto manufacturer’s stock valued at $1,328,000 after buying an additional 4,185 shares during the period. &PARTNERS bought a new stake in shares of General Motors during the 1st quarter valued at about $238,000. Finally, Ballentine Partners LLC raised its stake in General Motors by 52.6% during the first quarter. Ballentine Partners LLC now owns 15,247 shares of the auto manufacturer’s stock worth $691,000 after acquiring an additional 5,256 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on GM shares. StockNews.com lowered General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. upped their price objective on General Motors from $60.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Nomura cut General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price on the stock. in a research note on Monday, August 5th. Royal Bank of Canada restated an “outperform” rating and set a $54.00 price target on shares of General Motors in a research report on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $53.00 price objective on shares of General Motors in a research report on Tuesday, September 10th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $55.35.

General Motors Price Performance

Shares of General Motors stock opened at $49.18 on Friday. General Motors has a 52 week low of $26.30 and a 52 week high of $50.50. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. The stock has a market cap of $56.11 billion, a PE ratio of 6.01, a price-to-earnings-growth ratio of 0.56 and a beta of 1.42. The company’s 50-day moving average price is $47.01 and its two-hundred day moving average price is $45.93.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.67 by $0.39. The business had revenue of $47.97 billion for the quarter, compared to the consensus estimate of $45.13 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.91 EPS. As a group, sell-side analysts anticipate that General Motors will post 9.95 EPS for the current fiscal year.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, September 6th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.98%. The ex-dividend date was Friday, September 6th. General Motors’s dividend payout ratio is presently 5.87%.

Insider Buying and Selling

In related news, CFO Paul A. Jacobson purchased 25,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was acquired at an average price of $44.11 per share, for a total transaction of $1,102,750.00. Following the transaction, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at $11,551,173.92. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Rory Harvey sold 2,302 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total value of $108,907.62. Following the completion of the sale, the executive vice president now owns 10,356 shares in the company, valued at $489,942.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Paul A. Jacobson bought 25,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was acquired at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the transaction, the chief financial officer now owns 261,872 shares of the company’s stock, valued at $11,551,173.92. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.72% of the company’s stock.

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.