Foster & Motley Inc. Grows Holdings in General Motors (NYSE:GM)

Foster & Motley Inc. raised its position in General Motors (NYSE:GM) (TSE:GMM.U) by 121.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 47,169 shares of the auto manufacturer’s stock after purchasing an additional 25,869 shares during the period. Foster & Motley Inc.’s holdings in General Motors were worth $2,115,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL bought a new stake in shares of General Motors in the second quarter worth $25,000. Catalyst Capital Advisors LLC bought a new stake in shares of General Motors in the 3rd quarter worth about $27,000. Wellington Shields Capital Management LLC bought a new stake in shares of General Motors in the 2nd quarter worth about $28,000. Fortitude Family Office LLC raised its stake in shares of General Motors by 56.1% in the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after purchasing an additional 225 shares in the last quarter. Finally, Montag A & Associates Inc. bought a new position in shares of General Motors during the first quarter worth about $30,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Price Performance

Shares of NYSE GM opened at $55.05 on Thursday. The stock has a market cap of $60.53 billion, a P/E ratio of 5.87, a P/E/G ratio of 0.39 and a beta of 1.40. The firm’s 50-day simple moving average is $48.58 and its 200 day simple moving average is $46.72. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $55.38. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The company had revenue of $48.76 billion during the quarter, compared to analyst estimates of $44.67 billion. During the same period in the prior year, the business posted $2.28 EPS. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. Equities analysts expect that General Motors will post 10.34 EPS for the current year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Friday, December 6th. General Motors’s dividend payout ratio (DPR) is presently 5.12%.

Insider Transactions at General Motors

In related news, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction dated 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 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Mary T. Barra sold 506,824 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the sale, the chief executive officer now directly 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Rory Harvey sold 9,307 shares of General Motors stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $54.01, for a total transaction of $502,671.07. Following the completion of the transaction, the executive vice president now owns 8,513 shares in the company, valued at approximately $459,787.13. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 531,228 shares of company stock valued at $28,267,714. Corporate insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Morgan Stanley cut General Motors from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $47.00 to $42.00 in a research note on Wednesday, September 25th. Nomura lowered General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target on the stock. in a research report on Monday, August 5th. The Goldman Sachs Group lifted their price objective on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Sanford C. Bernstein raised their price target on shares of General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research report on Friday, October 25th. Finally, DZ Bank downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price objective for the company. in a research report on Friday, October 11th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $56.92.

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.