Claro Advisors LLC Has $326,000 Stock Holdings in General Motors (NYSE:GM)

Claro Advisors LLC increased its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 17.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,184 shares of the auto manufacturer’s stock after acquiring an additional 1,057 shares during the quarter. Claro Advisors LLC’s holdings in General Motors were worth $326,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in General Motors by 1.4% in the third quarter. Vanguard Group Inc. now owns 111,460,756 shares of the auto manufacturer’s stock worth $3,674,861,000 after purchasing an additional 1,580,681 shares during the period. Putnam Investments LLC boosted its holdings in General Motors by 16.8% in the fourth quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock worth $726,942,000 after acquiring an additional 2,905,689 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew 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 acquiring an additional 3,247,050 shares during the period. Norges Bank bought a new stake in shares of General Motors during the fourth quarter valued at approximately $602,280,000. Finally, Morgan Stanley raised its position in shares of General Motors by 1.3% during the third quarter. Morgan Stanley now owns 15,212,672 shares of the auto manufacturer’s stock worth $501,562,000 after purchasing an additional 201,080 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Bank of America restated a “buy” rating and set a $75.00 price target on shares of General Motors in a research note on Wednesday, June 12th. Mizuho boosted their target price on shares of General Motors from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. UBS Group lifted their price target on General Motors from $58.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Royal Bank of Canada raised their target price on General Motors from $54.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft increased their price target on General Motors from $44.00 to $50.00 and gave the company a “hold” rating in a research report on Tuesday, April 23rd. 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.91.

Insiders Place Their Bets

In other General Motors news, CEO Mary T. Barra sold 326,305 shares of General Motors stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $48.33, for a total value 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Mary T. Barra sold 626,316 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 1,198,648 shares of the company’s stock, valued at approximately $52,093,242.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mary T. Barra sold 326,305 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $48.33, for a total value of $15,770,320.65. Following the transaction, 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 sold 1,152,621 shares of company stock worth $51,818,111 in the last three months. 0.72% of the stock is owned by company insiders.

General Motors Price Performance

NYSE GM opened at $46.68 on Tuesday. The company has a 50-day moving average price of $45.60 and a 200-day moving average price of $41.45. General Motors has a 52 week low of $26.30 and a 52 week high of $49.35. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $53.26 billion, a P/E ratio of 5.71, a PEG ratio of 0.49 and a beta of 1.43.

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

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Friday, June 7th were issued a $0.12 dividend. The ex-dividend date was Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.03%. General Motors’s dividend payout ratio is presently 5.87%.

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