GAMMA Investing LLC Boosts Holdings in General Motors (NYSE:GM)

GAMMA Investing LLC increased its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 9.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,528 shares of the auto manufacturer’s stock after purchasing an additional 1,356 shares during the period. GAMMA Investing LLC’s holdings in General Motors were worth $696,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Handelsbanken Fonder AB raised its holdings in shares of General Motors by 9.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 182,130 shares of the auto manufacturer’s stock worth $8,167,000 after acquiring an additional 15,018 shares in the last quarter. Park Avenue Securities LLC grew its position in General Motors by 19.5% in the 3rd quarter. Park Avenue Securities LLC now owns 38,618 shares of the auto manufacturer’s stock valued at $1,732,000 after acquiring an additional 6,292 shares during the last quarter. Czech National Bank grew its position in shares of General Motors by 5.3% during the 3rd quarter. Czech National Bank now owns 228,954 shares of the auto manufacturer’s stock worth $10,266,000 after buying an additional 11,533 shares in the last quarter. Abacus Planning Group Inc. grew its position in shares of General Motors by 3.4% during the 3rd quarter. Abacus Planning Group Inc. now owns 10,202 shares of the auto manufacturer’s stock worth $457,000 after buying an additional 332 shares in the last quarter. Finally, Centaurus Financial Inc. boosted its position in General Motors by 2.1% during the second quarter. Centaurus Financial Inc. now owns 11,628 shares of the auto manufacturer’s stock valued at $540,000 after purchasing an additional 238 shares in the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at General Motors

In other General Motors news, EVP Rory Harvey sold 2,302 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total value of $108,907.62. Following the sale, the executive vice president now directly owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total value of $108,907.62. Following the sale, the executive vice president now directly owns 10,356 shares of the company’s stock, valued at $489,942.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Paul A. Jacobson purchased 25,000 shares of the stock in a transaction dated Friday, July 26th. The stock was purchased at an average cost 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 directly owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.72% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on GM shares. Royal Bank of Canada dropped their price objective on General Motors from $58.00 to $54.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. The Goldman Sachs Group increased their price target on General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Nomura cut General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target for the company. in a research note on Monday, August 5th. Finally, Nomura Securities upgraded General Motors to a “strong sell” rating in a research note on Monday, August 5th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $55.47.

General Motors Stock Up 0.1 %

General Motors stock opened at $46.01 on Wednesday. The firm has a market cap of $52.50 billion, a price-to-earnings ratio of 5.62, a price-to-earnings-growth ratio of 0.56 and a beta of 1.42. 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 price is $45.95 and its 200 day moving average price is $45.71. 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 (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, beating the consensus estimate of $2.67 by $0.39. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The company had revenue of $47.97 billion for the quarter, compared to analyst estimates of $45.13 billion. During the same period last year, the company earned $1.91 earnings per share. General Motors’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that General Motors will post 9.95 earnings per share for the current year.

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

General Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, September 6th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.04%. The ex-dividend date was Friday, September 6th. General Motors’s payout ratio is currently 5.87%.

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.