Brookstone Capital Management Raises Stock Position in General Motors (NYSE:GM)

Brookstone Capital Management grew its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 5.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 158,321 shares of the auto manufacturer’s stock after buying an additional 7,639 shares during the period. Brookstone Capital Management’s holdings in General Motors were worth $7,180,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Highlander Capital Management LLC purchased a new position in shares of General Motors in the 4th quarter worth $27,000. Cape Investment Advisory Inc. boosted its stake in shares of General Motors by 75.9% during the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after purchasing an additional 359 shares during the period. Sachetta LLC purchased a new position in shares of General Motors during the 4th quarter worth about $33,000. Bfsg LLC purchased a new position in shares of General Motors during the 4th quarter worth about $35,000. Finally, Tennessee Valley Asset Management Partners purchased a new position in shares of General Motors during the 4th quarter worth about $36,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GM has been the subject of a number of recent analyst reports. Barclays lifted their price target on shares of General Motors from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Morgan Stanley lifted their price target on shares of General Motors from $43.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 10th. Mizuho lifted their price target on shares of General Motors from $48.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. UBS Group lifted their price objective on shares of General Motors from $58.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Finally, Bank of America reiterated a “buy” rating and set a $75.00 price objective on shares of General Motors in a report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.91.

Insider Transactions at General Motors

In other news, CEO Mary T. Barra sold 626,316 shares of General Motors stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $43.46, for a total value of $27,219,693.36. Following the transaction, the chief executive officer now owns 1,198,648 shares of the company’s stock, valued at approximately $52,093,242.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other General Motors news, CEO Mary T. Barra sold 626,316 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the sale, the chief executive officer now owns 1,198,648 shares of the company’s stock, valued at approximately $52,093,242.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Mary T. Barra sold 326,305 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $48.33, for a total transaction of $15,770,320.65. Following the sale, the chief executive officer now directly owns 898,648 shares in the company, valued at approximately $43,431,657.84. The disclosure for this sale can be found here. Insiders have sold a total of 1,152,621 shares of company stock valued at $51,818,111 in the last 90 days. Insiders own 0.72% of the company’s stock.

General Motors Trading Down 0.4 %

NYSE:GM opened at $45.59 on Friday. General Motors has a one year low of $26.30 and a one year high of $49.35. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.97 and a current ratio of 1.16. The firm has a market cap of $52.02 billion, a P/E ratio of 5.57, a P/E/G ratio of 0.48 and a beta of 1.46. The firm has a 50-day simple moving average of $45.45 and a 200-day simple moving average of $41.23.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The firm had revenue of $43.01 billion for the quarter, compared to the consensus estimate of $41.09 billion. During the same quarter in the previous year, the firm earned $2.21 EPS. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. Equities analysts anticipate that General Motors will post 9.43 EPS for the current fiscal year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Friday, June 7th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend was Friday, June 7th. General Motors’s payout ratio is currently 5.87%.

General Motors announced that its board has authorized a stock repurchase program on Tuesday, June 11th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to buy up to 10.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

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.