Beaton Management Co. Inc. Invests $217,000 in General Motors (NYSE:GM)

Beaton Management Co. Inc. purchased a new stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,680 shares of the auto manufacturer’s stock, valued at approximately $217,000.

Several other institutional investors have also recently bought and sold shares of GM. LifeSteps Financial Inc. acquired a new position in shares of General Motors during the first quarter worth approximately $25,000. Wellington Shields Capital Management LLC acquired a new stake in shares of General Motors in the 2nd quarter valued at $28,000. Fortitude Family Office LLC raised its position in shares of General Motors by 56.1% during the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after acquiring an additional 225 shares during the last quarter. Cape Investment Advisory Inc. lifted its stake in shares of General Motors by 75.9% during the fourth quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock valued at $30,000 after acquiring an additional 359 shares during the period. Finally, Montag A & Associates Inc. bought a new position in General Motors in the first quarter valued at about $30,000. Institutional investors own 92.67% of the company’s stock.

General Motors Trading Down 0.1 %

Shares of NYSE GM opened at $48.62 on Friday. The firm has a 50 day moving average price of $46.28 and a two-hundred day moving average price of $45.17. The stock has a market cap of $55.47 billion, a P/E ratio of 5.94, a price-to-earnings-growth ratio of 0.52 and a beta of 1.43. General Motors has a 52-week low of $26.30 and a 52-week high of $50.50. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18.

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

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, September 6th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Friday, September 6th. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

General Motors declared that its board has authorized a share repurchase plan on Tuesday, June 11th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the auto manufacturer to repurchase up to 10.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several analysts have weighed in on the company. Wedbush reissued an “outperform” rating and set a $55.00 price objective on shares of General Motors in a report on Wednesday, July 24th. Nomura Securities raised shares of General Motors to a “strong sell” rating in a research note on Monday, August 5th. Bank of America reiterated a “buy” rating and set a $75.00 target price on shares of General Motors in a research report on Wednesday, June 12th. Royal Bank of Canada reduced their price target 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. Finally, Nomura lowered General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price on the stock. in a research note on Monday, August 5th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $55.27.

Insider Transactions at General Motors

In other news, EVP Rory Harvey sold 12,795 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $49.02, for a total transaction of $627,210.90. Following the completion of the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $417,307.26. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Paul A. Jacobson acquired 25,000 shares of General Motors stock in a transaction 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 purchase, the chief financial officer now owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 value of $627,210.90. Following the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at $417,307.26. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

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.