Sagefield Capital LP Has $1.99 Million Stake in General Motors (NYSE:GM)

Sagefield Capital LP lifted its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 7.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,816 shares of the auto manufacturer’s stock after purchasing an additional 3,078 shares during the period. Sagefield Capital LP’s holdings in General Motors were worth $1,989,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. LifeSteps Financial Inc. acquired a new stake in shares of General Motors in the 1st quarter valued at $25,000. Wellington Shields Capital Management LLC bought a new position in General Motors in the second quarter valued at about $28,000. Fortitude Family Office LLC increased its position in General Motors by 56.1% in the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after purchasing an additional 225 shares during the period. Cape Investment Advisory Inc. raised its holdings in 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 last quarter. Finally, Montag A & Associates Inc. bought a new stake in General Motors during the 1st quarter worth about $30,000. Institutional investors own 92.67% of the company’s stock.

General Motors Stock Down 1.7 %

General Motors stock opened at $48.05 on Tuesday. The company has a fifty day simple moving average of $46.25 and a 200 day simple moving average of $45.36. 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. The company has a market cap of $54.82 billion, a P/E ratio of 5.87, a price-to-earnings-growth ratio of 0.52 and a beta of 1.43.

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

General Motors Announces Dividend

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

General Motors declared that its Board of Directors has authorized a stock buyback plan 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 shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

GM has been the subject of a number of recent research reports. Wedbush reissued an “outperform” rating and set a $55.00 price target on shares of General Motors in a research note on Wednesday, July 24th. Nomura Securities raised General Motors to a “strong sell” rating in a research note on Monday, August 5th. Wolfe Research assumed coverage on General Motors in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Morgan Stanley downgraded General Motors from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $46.00 to $47.00 in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. raised their target price on General Motors from $60.00 to $61.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, General Motors currently has an average rating of “Hold” and an average price target of $55.17.

Insider Activity at General Motors

In other General Motors news, EVP Rory Harvey sold 12,795 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $49.02, for a total transaction of $627,210.90. Following the sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $417,307.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other General Motors news, CFO Paul A. Jacobson bought 25,000 shares of General Motors stock in a transaction dated Friday, July 26th. The stock was bought at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the purchase, 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Rory Harvey sold 12,795 shares of the 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 sale, the executive vice president now owns 8,513 shares in the company, valued at approximately $417,307.26. The disclosure for this sale can be found here. 0.72% of the stock is owned by company 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.