Blue Trust Inc. Raises Holdings in General Motors (NYSE:GM)

Blue Trust Inc. boosted its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 204.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,654 shares of the auto manufacturer’s stock after acquiring an additional 5,144 shares during the quarter. Blue Trust Inc.’s holdings in General Motors were worth $356,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Global Assets Advisory LLC purchased a new stake in shares of General Motors during the 1st quarter worth about $2,644,000. Brookstone Capital Management boosted its position in General Motors by 5.1% during the first quarter. Brookstone Capital Management now owns 158,321 shares of the auto manufacturer’s stock worth $7,180,000 after purchasing an additional 7,639 shares in the last quarter. Sovereign Financial Group Inc. purchased a new position in General Motors during the first quarter worth approximately $230,000. Signet Financial Management LLC grew its holdings in General Motors by 24.2% in the first quarter. Signet Financial Management LLC now owns 27,769 shares of the auto manufacturer’s stock valued at $1,259,000 after purchasing an additional 5,414 shares during the period. Finally, Janiczek Wealth Management LLC increased its position in shares of General Motors by 5.2% in the first quarter. Janiczek Wealth Management LLC now owns 5,063 shares of the auto manufacturer’s stock valued at $230,000 after buying an additional 248 shares in the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on GM shares. The Goldman Sachs Group lifted their price target on shares of General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Wedbush boosted their target price on shares of General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday. Sanford C. Bernstein lowered shares of General Motors from an “outperform” rating to a “market perform” rating and set a $53.00 price target on the stock. in a research note on Monday, September 23rd. Royal Bank of Canada boosted their price objective on General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Morgan Stanley downgraded General Motors from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $47.00 to $42.00 in a research report on Wednesday, September 25th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $56.97.

General Motors Trading Down 1.5 %

Shares of General Motors stock opened at $52.91 on Thursday. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $54.19. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18. The firm has a market capitalization of $60.37 billion, a price-to-earnings ratio of 6.47, a PEG ratio of 0.56 and a beta of 1.42. The stock has a 50 day moving average of $47.52 and a 200 day moving average of $46.09.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The firm had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. During the same period last year, the company earned $2.28 EPS. The company’s quarterly revenue was up 10.5% on a year-over-year basis. As a group, research analysts predict that General Motors will post 9.95 earnings per share for the current year.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 annualized dividend and a dividend yield of 0.91%. General Motors’s dividend payout ratio is currently 5.87%.

Insider Buying and Selling

In other General Motors news, EVP Rory Harvey sold 12,795 shares of the business’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 value of $627,210.90. Following the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at $417,307.26. The trade was 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 available through this link. In other General Motors news, CFO Paul A. Jacobson acquired 25,000 shares of the stock in a transaction dated Friday, July 26th. The stock was acquired at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the purchase, the chief financial officer now owns 261,872 shares in the company, valued at $11,551,173.92. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 directly owns 8,513 shares in the company, valued at approximately $417,307.26. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

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.