General Motors (NYSE:GM) Shares Sold by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. cut its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 5.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,749 shares of the auto manufacturer’s stock after selling 291 shares during the period. Johnson Investment Counsel Inc.’s holdings in General Motors were worth $221,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Gryphon Financial Partners LLC acquired a new stake in General Motors in the 4th quarter worth about $335,000. Quadrant Capital Group LLC boosted its holdings in General Motors by 13.1% in the 4th quarter. Quadrant Capital Group LLC now owns 4,610 shares of the auto manufacturer’s stock worth $166,000 after buying an additional 535 shares during the last quarter. Norges Bank acquired a new stake in General Motors in the 4th quarter worth about $602,280,000. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in General Motors by 69.8% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 155,120 shares of the auto manufacturer’s stock worth $5,572,000 after buying an additional 63,769 shares during the last quarter. Finally, Gladstone Institutional Advisory LLC acquired a new stake in General Motors in the 4th quarter worth about $218,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Stock Up 0.4 %

Shares of NYSE GM opened at $46.30 on Monday. The firm has a market cap of $52.83 billion, a price-to-earnings ratio of 5.66, a PEG ratio of 0.52 and a beta of 1.43. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. General Motors has a 52-week low of $26.30 and a 52-week high of $50.50. The business’s 50 day moving average is $46.19 and its two-hundred day moving average is $45.03.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, topping the consensus estimate of $2.67 by $0.39. The business had revenue of $47.97 billion during 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 company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.91 earnings per share. Research analysts predict that General Motors will post 9.95 EPS for the current year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Friday, September 6th will be paid a $0.12 dividend. The ex-dividend date is Friday, September 6th. This represents a $0.48 annualized dividend and a dividend yield of 1.04%. General Motors’s dividend payout ratio (DPR) is 5.87%.

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

Analyst Upgrades and Downgrades

GM has been the topic of several research analyst reports. Bank of America reiterated a “buy” rating and issued a $75.00 price objective on shares of General Motors in a report on Wednesday, June 12th. Nomura lowered shares of 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. Morgan Stanley lowered shares of General Motors from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $46.00 to $47.00 in a research note on Wednesday, July 24th. Wolfe Research started coverage on shares of General Motors in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, Wedbush reissued an “outperform” rating and issued a $55.00 target price on shares of General Motors in a research note on Wednesday, July 24th. Three analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.27.

Insiders Place Their Bets

In other General Motors news, EVP Rory Harvey sold 12,795 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $49.02, for a total value of $627,210.90. Following the completion of the transaction, the executive vice president now owns 8,513 shares in the company, valued at $417,307.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Paul A. Jacobson bought 25,000 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average price of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the purchase, the chief financial officer now owns 261,872 shares in the company, valued at approximately $11,551,173.92. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Rory Harvey sold 12,795 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $49.02, for a total transaction of $627,210.90. Following the transaction, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $417,307.26. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

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.