Profund Advisors LLC Sells 4,889 Shares of General Motors (NYSE:GM)

Profund Advisors LLC lowered its position in General Motors (NYSE:GM) (TSE:GMM.U) by 18.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,779 shares of the auto manufacturer’s stock after selling 4,889 shares during the period. Profund Advisors LLC’s holdings in General Motors were worth $1,012,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. LifeSteps Financial Inc. acquired a new position in General Motors in the first quarter worth $25,000. Wellington Shields Capital Management LLC bought a new stake in General Motors during the 2nd quarter worth about $28,000. Fortitude Family Office LLC grew its holdings in General Motors by 56.1% during the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after acquiring an additional 225 shares during the last quarter. Cape Investment Advisory Inc. raised its stake in shares of General Motors by 75.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after acquiring an additional 359 shares during the last quarter. Finally, Montag A & Associates Inc. acquired a new position in shares of General Motors during the first quarter worth approximately $30,000. 92.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wedbush reissued an “outperform” rating and issued a $55.00 price target on shares of General Motors in a report on Wednesday, July 24th. StockNews.com lowered General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. UBS Group lifted their price objective on General Motors from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. JPMorgan Chase & Co. upped their target price on shares of General Motors from $60.00 to $61.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, Bank of America reiterated a “buy” rating and set a $75.00 price target on shares of General Motors in a research report on Wednesday, June 12th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, General Motors currently has an average rating of “Hold” and a consensus price target of $55.17.

General Motors Price Performance

Shares of NYSE GM opened at $48.05 on Tuesday. The company has a fifty day moving average price of $46.25 and a 200 day moving average price of $45.36. The firm has a market cap of $54.82 billion, a PE ratio of 5.87, a PEG ratio of 0.52 and a beta of 1.43. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. General Motors has a 1-year low of $26.30 and a 1-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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 15.77% and a net margin of 6.22%. General Motors’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the company earned $1.91 earnings per share. Research analysts predict that General Motors will post 9.95 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Friday, September 6th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.00%. The ex-dividend date was Friday, September 6th. General Motors’s payout ratio is 5.87%.

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

Insider Activity at General Motors

In other news, EVP Rory Harvey sold 12,795 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $49.02, for a total transaction of $627,210.90. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at approximately $417,307.26. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Rory Harvey sold 12,795 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 8,513 shares in the company, valued at approximately $417,307.26. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Paul A. Jacobson bought 25,000 shares of the firm’s 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 completion of the purchase, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. The disclosure for this purchase can be found here. 0.72% of the stock is owned by insiders.

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.