Summit Trail Advisors LLC Increases Stock Holdings in General Motors (NYSE:GM)

Summit Trail Advisors LLC lifted its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 223.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 32,230 shares of the auto manufacturer’s stock after buying an additional 22,277 shares during the quarter. Summit Trail Advisors LLC’s holdings in General Motors were worth $1,497,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of GM. Capital World Investors increased its holdings in General Motors by 14.6% during the 1st quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock worth $2,211,609,000 after purchasing an additional 6,201,777 shares during the last quarter. Swedbank AB purchased a new stake in General Motors during the 1st quarter worth approximately $159,750,000. Hotchkis & Wiley Capital Management LLC increased its holdings in General Motors by 21.9% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock worth $650,062,000 after purchasing an additional 3,247,050 shares during the last quarter. Putnam Investments LLC increased its holdings in General Motors by 16.8% during the 4th quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock worth $726,942,000 after purchasing an additional 2,905,689 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado increased its holdings in 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 worth $79,159,000 after purchasing an additional 2,035,925 shares during the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GM has been the topic of several analyst reports. Wells Fargo & Company dropped their price objective on General Motors from $34.00 to $33.00 and set an “underweight” rating on the stock in a report on Tuesday, September 10th. Bank of America reiterated a “buy” rating and issued a $75.00 price target on shares of General Motors in a report on Wednesday, June 12th. StockNews.com downgraded General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. UBS Group boosted their price target on General Motors from $61.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. boosted their price target on General Motors from $60.00 to $61.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $55.27.

General Motors Trading Up 0.5 %

Shares of GM stock opened at $48.88 on Friday. 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 has a 1 year low of $26.30 and a 1 year high of $50.50. The stock has a fifty day moving average of $46.28 and a two-hundred day moving average of $45.26. The firm has a market capitalization of $55.77 billion, a PE ratio of 5.98, a price-to-earnings-growth ratio of 0.52 and a beta of 1.43.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, topping 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 company had revenue of $47.97 billion during the quarter, compared to analyst estimates of $45.13 billion. During the same quarter in the previous year, the firm posted $1.91 EPS. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, research analysts expect that General Motors will post 9.95 EPS for the current year.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, September 6th were given 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 0.98%. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

General Motors announced that its Board of Directors has authorized a stock buyback plan on Tuesday, June 11th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the auto manufacturer to reacquire up to 10.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, CFO Paul A. Jacobson acquired 25,000 shares of the business’s stock in a transaction dated 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 acquisition, the chief financial officer now directly owns 261,872 shares in the company, valued at approximately $11,551,173.92. The acquisition 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 the business’s stock in a transaction dated 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 acquisition, the chief financial officer now directly owns 261,872 shares in the company, valued at approximately $11,551,173.92. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Rory Harvey sold 12,795 shares of the company’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 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 disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

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.