General Motors (NYSE:GM) Shares Bought by USA Financial Formulas

USA Financial Formulas lifted its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 232.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,756 shares of the auto manufacturer’s stock after buying an additional 20,114 shares during the quarter. USA Financial Formulas’ holdings in General Motors were worth $1,289,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Strategic Investment Solutions Inc. IL acquired a new position in shares of General Motors during the 2nd quarter worth $25,000. Wellington Shields Capital Management LLC purchased a new position in General Motors in the 2nd quarter valued at approximately $28,000. Fortitude Family Office LLC grew its holdings in General Motors by 56.1% in the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after purchasing an additional 225 shares during the last quarter. Montag A & Associates Inc. purchased a new position in shares of General Motors in the first quarter valued at $30,000. Finally, EdgeRock Capital LLC purchased a new stake in shares of General Motors in the 2nd quarter worth about $33,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on GM shares. Nomura cut shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price for the company. in a research report on Monday, August 5th. JPMorgan Chase & Co. increased their target price on General Motors from $60.00 to $61.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Morgan Stanley downgraded General Motors from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $47.00 to $42.00 in a research report on Wednesday, September 25th. UBS Group increased their price objective on General Motors from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, Sanford C. Bernstein downgraded shares of General Motors from an “outperform” rating to a “market perform” rating and set a $53.00 target price for the company. in a research note on Monday, September 23rd. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, General Motors presently has an average rating of “Hold” and an average target price of $55.47.

General Motors Stock Performance

Shares of NYSE:GM opened at $47.94 on Thursday. The business has a 50-day moving average of $46.05 and a two-hundred day moving average of $45.74. The firm has a market capitalization of $54.69 billion, a PE ratio of 5.86, a P/E/G ratio of 0.56 and a beta of 1.42. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99. General Motors has a 12 month low of $26.30 and a 12 month high of $50.50.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its 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. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The firm had revenue of $47.97 billion during the quarter, compared to the consensus estimate of $45.13 billion. During the same quarter in the prior year, the company earned $1.91 EPS. The company’s revenue was up 7.2% on a year-over-year basis. As a group, research analysts forecast that General Motors will post 9.95 earnings per share for the current year.

General Motors Dividend Announcement

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

Insider Activity at General Motors

In other General Motors news, CFO Paul A. Jacobson purchased 25,000 shares of General Motors stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average price of $44.11 per share, with a total value 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. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other General Motors 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 $417,307.26. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Paul A. Jacobson bought 25,000 shares of General Motors stock in a transaction on Friday, July 26th. The shares were purchased at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the acquisition, the chief financial officer now owns 261,872 shares in the company, valued at $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. Company insiders own 0.72% of the company’s stock.

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.