General Motors (NYSE:GM) Stock Holdings Raised by Hollencrest Capital Management

Hollencrest Capital Management grew its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 5.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,551 shares of the auto manufacturer’s stock after purchasing an additional 351 shares during the quarter. Hollencrest Capital Management’s holdings in General Motors were worth $304,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Capital World Investors boosted its holdings in shares of 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 period. Swedbank AB acquired a new position in General Motors in the first quarter valued at approximately $159,750,000. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of General Motors by 21.9% during 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 purchasing an additional 3,247,050 shares during the last quarter. Putnam Investments LLC raised its position in shares of General Motors by 16.8% during the 4th quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock worth $726,942,000 after purchasing an additional 2,905,689 shares during the period. Finally, Public Employees Retirement Association of Colorado boosted its position in General Motors by 1,213.0% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 2,203,771 shares of the auto manufacturer’s stock valued at $79,159,000 after purchasing an additional 2,035,925 shares during the period. Institutional investors own 92.67% of the company’s stock.

General Motors Price Performance

Shares of NYSE:GM opened at $48.62 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18. The company has a market capitalization of $55.47 billion, a PE ratio of 5.94, a price-to-earnings-growth ratio of 0.52 and a beta of 1.43. The stock has a fifty day moving average of $46.28 and a 200-day moving average of $45.17. General Motors has a one year low of $26.30 and a one year high of $50.50.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.67 by $0.39. The company had revenue of $47.97 billion during the quarter, compared to analyst estimates of $45.13 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.91 earnings per share. As a group, equities analysts anticipate that General Motors will post 9.95 EPS for the current fiscal year.

General Motors declared that its Board of Directors has approved a share repurchase plan on Tuesday, June 11th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the auto manufacturer to reacquire up to 10.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, September 6th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.99%. The ex-dividend date was Friday, September 6th. General Motors’s payout ratio is 5.87%.

Insider Buying and Selling at General Motors

In other General Motors news, CFO Paul A. Jacobson acquired 25,000 shares of General Motors stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the purchase, the chief financial officer now owns 261,872 shares in the company, valued at $11,551,173.92. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Paul A. Jacobson acquired 25,000 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were purchased at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the transaction, the chief financial officer now owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Rory Harvey sold 2,302 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the sale, the executive vice president now owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Bank of America reaffirmed a “buy” rating and issued a $75.00 target price on shares of General Motors in a research report on Wednesday, June 12th. JPMorgan Chase & Co. increased their price objective on shares of General Motors from $60.00 to $61.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Wells Fargo & Company reduced their target price on shares of General Motors from $34.00 to $33.00 and set an “underweight” rating for the company in a research note on Tuesday, September 10th. 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, Morgan Stanley downgraded General Motors from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $46.00 to $47.00 in a research report on Wednesday, July 24th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $55.27.

About General Motors

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.