Ieq Capital LLC Acquires 8,211 Shares of General Motors (NYSE:GM)

Ieq Capital LLC increased its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 8.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,596 shares of the auto manufacturer’s stock after buying an additional 8,211 shares during the period. Ieq Capital LLC’s holdings in General Motors were worth $4,767,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Public Employees Retirement Association of Colorado raised its position in shares of General Motors by 1,213.0% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 2,203,771 shares of the auto manufacturer’s stock valued at $79,159,000 after acquiring an additional 2,035,925 shares during the last quarter. US Bancorp DE increased its holdings in General Motors by 59.3% in the fourth quarter. US Bancorp DE now owns 86,888 shares of the auto manufacturer’s stock valued at $3,121,000 after purchasing an additional 32,331 shares during the last quarter. GSA Capital Partners LLP lifted its stake in General Motors by 317.6% in the fourth quarter. GSA Capital Partners LLP now owns 67,807 shares of the auto manufacturer’s stock valued at $2,436,000 after buying an additional 51,571 shares during the period. ACR Alpine Capital Research LLC boosted its holdings in General Motors by 8.4% during the first quarter. ACR Alpine Capital Research LLC now owns 6,337,547 shares of the auto manufacturer’s stock worth $287,408,000 after buying an additional 492,693 shares during the last quarter. Finally, BDF Gestion acquired a new position in shares of General Motors during the 2nd quarter worth about $2,886,000. 92.67% of the stock is owned by institutional investors.

General Motors Stock Up 0.5 %

Shares of GM stock opened at $48.88 on Friday. The firm’s fifty day moving average price is $46.28 and its two-hundred day moving average price is $45.23. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. General Motors has a 1 year low of $26.30 and a 1 year high of $50.50. The firm has a market capitalization of $55.77 billion, a P/E ratio of 5.98, a PEG ratio of 0.52 and a beta of 1.43.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $45.13 billion. During the same quarter in the previous year, the business earned $1.91 earnings per share. General Motors’s quarterly revenue was up 7.2% on a year-over-year basis. On average, equities analysts predict that General Motors will post 9.95 EPS for the current fiscal year.

General Motors announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, June 11th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the auto manufacturer to buy up to 10.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, September 6th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date was Friday, September 6th. General Motors’s dividend payout ratio is currently 5.87%.

Insider Activity

In other news, CFO Paul A. Jacobson bought 25,000 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were acquired at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the acquisition, the chief financial officer now owns 261,872 shares in the company, valued at $11,551,173.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Paul A. Jacobson bought 25,000 shares of General Motors stock in a transaction dated Friday, July 26th. The shares were 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 directly owns 261,872 shares in the company, valued at approximately $11,551,173.92. The disclosure for this purchase can be found here. 0.72% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on GM shares. Wedbush reiterated an “outperform” rating and issued a $55.00 price target on shares of General Motors in a research report on Wednesday, July 24th. UBS Group lifted their price target on shares of General Motors from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Nomura lowered shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target for the company. in a report on Monday, August 5th. Nomura Securities raised General Motors to a “strong sell” rating in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. lifted their target price on General Motors from $60.00 to $61.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.