Neumann Capital Management LLC Acquires 600 Shares of General Motors (NYSE:GM)

Neumann Capital Management LLC raised its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 1.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 51,350 shares of the auto manufacturer’s stock after acquiring an additional 600 shares during the quarter. Neumann Capital Management LLC’s holdings in General Motors were worth $2,303,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in GM. Capital World Investors grew its stake in General Motors by 14.6% in the 1st quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock valued at $2,211,609,000 after buying an additional 6,201,777 shares during the last quarter. Swedbank AB bought a new stake in General Motors during the first quarter valued at about $159,750,000. Artemis Investment Management LLP increased its stake in shares of General Motors by 581.4% in the third quarter. Artemis Investment Management LLP now owns 1,601,856 shares of the auto manufacturer’s stock worth $71,827,000 after purchasing an additional 1,366,768 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of General Motors by 9.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock worth $600,291,000 after purchasing an additional 1,091,137 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its stake in General Motors by 3,333.1% during the 2nd quarter. Panagora Asset Management Inc. now owns 783,340 shares of the auto manufacturer’s stock valued at $36,394,000 after purchasing an additional 760,523 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insider Buying and Selling at General Motors

In related news, President Mark L. Reuss sold 122,283 shares of General Motors stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the completion of the sale, the president now directly owns 126,907 shares of the company’s stock, valued at $7,000,190.12. The trade was a 49.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Rory Harvey sold 9,307 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total value of $502,671.07. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at $459,787.13. The trade was a 52.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 653,511 shares of company stock worth $35,012,844. Company insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Barclays lifted their price target on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada upped their target price on shares of General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price target on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Wedbush boosted their price objective on shares of General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, The Goldman Sachs Group lifted their target price on General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Four analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $56.92.

General Motors Stock Performance

Shares of General Motors stock opened at $57.63 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. The firm has a 50 day simple moving average of $49.33 and a 200 day simple moving average of $47.13. General Motors has a fifty-two week low of $27.42 and a fifty-two week high of $59.39. The firm has a market cap of $63.37 billion, a P/E ratio of 6.14, a P/E/G ratio of 0.44 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, beating the consensus estimate of $2.49 by $0.47. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The company had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. During the same period last year, the firm earned $2.28 EPS. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. Sell-side analysts predict that General Motors will post 10.35 earnings per share for the current fiscal year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 annualized dividend and a yield of 0.83%. General Motors’s dividend payout ratio is currently 5.12%.

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.