Creative Planning Acquires 50,543 Shares of General Motors (NYSE:GM)

Creative Planning grew its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 36.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 190,247 shares of the auto manufacturer’s stock after buying an additional 50,543 shares during the quarter. Creative Planning’s holdings in General Motors were worth $8,839,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Capital World Investors grew its position in General Motors by 14.6% during the 1st quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock worth $2,211,609,000 after acquiring an additional 6,201,777 shares during the last quarter. Swedbank AB purchased a new position in shares of General Motors in the first quarter worth $159,750,000. Hotchkis & Wiley Capital Management LLC raised its holdings in General Motors by 21.9% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock valued at $650,062,000 after buying an additional 3,247,050 shares during the last quarter. Putnam Investments LLC boosted its position in General Motors by 16.8% during the 4th quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock valued at $726,942,000 after buying an additional 2,905,689 shares during the period. Finally, Public Employees Retirement Association of Colorado grew its holdings in General Motors by 1,213.0% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 2,203,771 shares of the auto manufacturer’s stock worth $79,159,000 after acquiring an additional 2,035,925 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GM. Nomura downgraded shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective for the company. in a research note on Monday, August 5th. Royal Bank of Canada dropped their price objective on General Motors from $58.00 to $54.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $53.00 target price on shares of General Motors in a research note on Tuesday, September 10th. Wedbush reaffirmed an “outperform” rating and issued a $55.00 price target on shares of General Motors in a research note on Wednesday, July 24th. Finally, Nomura Securities raised shares of General Motors to a “strong sell” rating in a research report on Monday, August 5th. Four analysts have rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $55.47.

General Motors Stock Up 0.1 %

Shares of NYSE:GM opened at $44.87 on Wednesday. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. The stock has a fifty day simple moving average of $45.89 and a two-hundred day simple moving average of $45.62. General Motors has a 12-month low of $26.30 and a 12-month high of $50.50. The stock has a market capitalization of $51.19 billion, a price-to-earnings ratio of 5.49, a PEG ratio of 0.56 and a beta of 1.43.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results 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 company had revenue of $47.97 billion for the quarter, compared to analysts’ expectations of $45.13 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. General Motors’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.91 EPS. On average, research analysts anticipate that General Motors will post 9.95 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Friday, September 6th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.48 dividend on an annualized basis and a yield of 1.07%. General Motors’s payout ratio is currently 5.87%.

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

Insider Activity at General Motors

In other General Motors news, EVP Rory Harvey sold 12,795 shares of General Motors stock in a transaction on Monday, August 26th. The stock was 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 of the company’s stock, valued at approximately $417,307.26. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Paul A. Jacobson bought 25,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were bought at an average price of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the acquisition, the chief financial officer now owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Rory Harvey sold 12,795 shares of General Motors 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 completion of the sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at approximately $417,307.26. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

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.