Brighton Jones LLC Cuts Position in General Motors (NYSE:GM)

Brighton Jones LLC trimmed its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 3.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,539 shares of the auto manufacturer’s stock after selling 299 shares during the period. Brighton Jones LLC’s holdings in General Motors were worth $350,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of GM. LifeSteps Financial Inc. bought a new stake in shares of General Motors during the 1st quarter worth approximately $25,000. Wellington Shields Capital Management LLC bought a new stake in shares of General Motors during the 2nd quarter worth approximately $28,000. Fortitude Family Office LLC lifted its stake in shares of General Motors by 56.1% during the 2nd 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. Montag A & Associates Inc. bought a new stake in shares of General Motors during the 1st quarter worth approximately $30,000. Finally, YHB Investment Advisors Inc. bought a new stake in shares of General Motors during the 1st quarter worth approximately $32,000. 92.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. UBS Group raised their price target on General Motors from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. JPMorgan Chase & Co. lifted their target price on General Motors from $60.00 to $61.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Morgan Stanley lowered General Motors from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $46.00 to $47.00 in a research report on Wednesday, July 24th. Bank of America reaffirmed a “buy” rating and set a $75.00 target price on shares of General Motors in a research report on Wednesday, June 12th. Finally, Wedbush reaffirmed an “outperform” rating and set a $55.00 target price on shares of General Motors in a research report on Wednesday, July 24th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $55.27.

General Motors Stock Up 0.5 %

Shares of GM stock opened at $48.88 on Monday. General Motors has a 1-year low of $26.30 and a 1-year high of $50.50. The stock’s fifty day moving average price is $46.28 and its 200 day moving average price is $45.29. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99. The company has a market cap of $55.77 billion, a price-to-earnings 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 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. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The firm had revenue of $47.97 billion for the quarter, compared to the consensus estimate of $45.13 billion. During the same period in the previous year, the business earned $1.91 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, research analysts expect that General Motors will post 9.95 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The company 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 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 is currently 5.87%.

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

Insiders Place Their Bets

In other news, CFO Paul A. Jacobson purchased 25,000 shares of the stock in a transaction on Friday, July 26th. The stock was bought at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the transaction, the chief financial officer now owns 261,872 shares in the company, valued at approximately $11,551,173.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Rory Harvey sold 12,795 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $49.02, for a total value of $627,210.90. Following the completion of the transaction, 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. Also, CFO Paul A. Jacobson acquired 25,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was bought 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 owns 261,872 shares in the company, valued at $11,551,173.92. The disclosure for this purchase can be found here. 0.72% of the stock is currently owned by insiders.

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.