Sendero Wealth Management LLC Buys 530 Shares of General Motors (NYSE:GM)

Sendero Wealth Management LLC raised its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 7.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,118 shares of the auto manufacturer’s stock after purchasing an additional 530 shares during the quarter. Sendero Wealth Management LLC’s holdings in General Motors were worth $364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of GM. Strategic Investment Solutions Inc. IL purchased a new position in General Motors in the second quarter worth $25,000. Wellington Shields Capital Management LLC purchased a new position in shares of General Motors in the second quarter worth about $28,000. Fortitude Family Office LLC lifted its stake in shares of General Motors by 56.1% in the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after acquiring an additional 225 shares during the last quarter. Montag A & Associates Inc. purchased a new stake in General Motors during the 1st quarter valued at about $30,000. Finally, EdgeRock Capital LLC purchased a new position in General Motors in the 2nd quarter worth approximately $33,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Stock Performance

NYSE GM traded down $0.17 on Thursday, hitting $47.76. 4,556,626 shares of the company traded hands, compared to its average volume of 15,208,447. 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 business’s 50 day moving average price is $46.05 and its 200-day moving average price is $45.74. The company has a market capitalization of $54.49 billion, a price-to-earnings ratio of 5.85, a P/E/G 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.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 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%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.91 EPS. Equities analysts expect that General Motors will post 9.95 earnings per share for the current year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Friday, September 6th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Friday, September 6th. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

Insiders Place Their Bets

In other General Motors news, EVP Rory Harvey sold 12,795 shares of the business’s 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 sale, the executive vice president now owns 8,513 shares in the company, valued at $417,307.26. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other General Motors news, CFO Paul A. Jacobson acquired 25,000 shares of the stock in a transaction on Friday, July 26th. The stock was acquired at an average price of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the transaction, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at $11,551,173.92. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Rory Harvey sold 12,795 shares of General Motors stock in a transaction dated 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 transaction, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $417,307.26. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Morgan Stanley downgraded shares of General Motors from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $47.00 to $42.00 in a research note on Wednesday, September 25th. Wolfe Research began coverage on shares of General Motors in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Wells Fargo & Company reduced their price objective on shares of General Motors from $34.00 to $33.00 and set an “underweight” rating on the stock in a research report on Tuesday, September 10th. Royal Bank of Canada restated an “outperform” rating and issued a $54.00 price objective on shares of General Motors in a report on Wednesday. Finally, Wedbush restated an “outperform” rating and set a $55.00 price objective on shares of General Motors in a research note on Wednesday. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $55.47.

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.