SYSTM Wealth Solutions LLC Reduces Holdings in General Motors (NYSE:GM)

SYSTM Wealth Solutions LLC reduced its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 20.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,457 shares of the auto manufacturer’s stock after selling 651 shares during the period. SYSTM Wealth Solutions LLC’s holdings in General Motors were worth $114,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Lumbard & Kellner LLC purchased a new position in shares of General Motors during the 2nd quarter valued at $230,000. Peregrine Asset Advisers Inc. purchased a new position in shares of General Motors in the second quarter worth $3,526,000. Lmcg Investments LLC boosted its position in shares of General Motors by 2.8% during the second quarter. Lmcg Investments LLC now owns 206,313 shares of the auto manufacturer’s stock worth $9,585,000 after acquiring an additional 5,649 shares during the last quarter. Donald Smith & CO. Inc. grew its stake in General Motors by 1.8% during the second quarter. Donald Smith & CO. Inc. now owns 1,453,713 shares of the auto manufacturer’s stock valued at $67,540,000 after acquiring an additional 26,172 shares in the last quarter. Finally, Citizens Financial Group Inc. RI bought a new stake in General Motors in the 2nd quarter valued at $231,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at General Motors

In other General Motors news, CFO Paul A. Jacobson acquired 25,000 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were acquired at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the acquisition, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at $11,551,173.92. The purchase was disclosed in a document filed with the SEC, which is accessible 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 purchased at an average cost 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 directly owns 261,872 shares in the company, valued at $11,551,173.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 shares were sold at an average price of $49.02, for a total value of $627,210.90. Following the transaction, the executive vice president now owns 8,513 shares of the company’s stock, valued at $417,307.26. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

General Motors Trading Down 0.1 %

NYSE:GM opened at $48.62 on Friday. The firm has a 50 day moving average of $46.28 and a 200 day moving average of $45.17. 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 has a 52 week low of $26.30 and a 52 week high of $50.50. The stock has a market capitalization of $55.47 billion, a price-to-earnings ratio of 5.94, a PEG ratio of 0.52 and a beta of 1.43.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.67 by $0.39. The firm had revenue of $47.97 billion for the quarter, compared to the consensus estimate of $45.13 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.91 EPS. As a group, sell-side analysts anticipate that General Motors will post 9.95 earnings per share for the current fiscal year.

General Motors announced that its board has approved a stock buyback plan on Tuesday, June 11th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the auto manufacturer to buy up to 10.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, September 6th were paid a dividend of $0.12 per share. 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 0.99%. General Motors’s payout ratio is 5.87%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Wolfe Research began coverage on General Motors in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Wells Fargo & Company lowered their target price on General Motors from $34.00 to $33.00 and set an “underweight” rating for the company in a research report on Tuesday, September 10th. Morgan Stanley lowered shares of General Motors from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $46.00 to $47.00 in a report on Wednesday, July 24th. Wedbush reaffirmed an “outperform” rating and set a $55.00 price target on shares of General Motors in a research note on Wednesday, July 24th. Finally, Bank of America reissued a “buy” rating and issued a $75.00 price objective on shares of General Motors in a research note on Wednesday, June 12th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $55.27.

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.