Blair William & Co. IL Lowers Stock Holdings in General Motors (NYSE:GM)

Blair William & Co. IL cut its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 19.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,825 shares of the auto manufacturer’s stock after selling 7,568 shares during the quarter. Blair William & Co. IL’s holdings in General Motors were worth $1,432,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Waterloo Capital L.P. purchased a new stake in General Motors in the second quarter valued at approximately $244,000. Vanguard Personalized Indexing Management LLC grew its stake in shares of General Motors by 15.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 146,123 shares of the auto manufacturer’s stock valued at $6,784,000 after buying an additional 19,798 shares during the period. Mercer Global Advisors Inc. ADV grew its stake in shares of General Motors by 14.6% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 134,537 shares of the auto manufacturer’s stock valued at $6,251,000 after buying an additional 17,159 shares during the period. Lumbard & Kellner LLC acquired a new stake in shares of General Motors during the 2nd quarter worth $230,000. Finally, Peregrine Asset Advisers Inc. purchased a new position in shares of General Motors in the 2nd quarter worth $3,526,000. 92.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GM shares. Royal Bank of Canada cut their price objective on General Motors from $58.00 to $54.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Wells Fargo & Company reduced their price target on shares of General Motors from $34.00 to $33.00 and set an “underweight” rating on the stock in a research report on Tuesday, September 10th. Sanford C. Bernstein lowered shares of General Motors from an “outperform” rating to a “market perform” rating and set a $53.00 price objective for the company. in a research report on Monday. StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, Nomura downgraded 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. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, General Motors presently has a consensus rating of “Hold” and a consensus price target of $55.17.

Insider Activity at General Motors

In other General Motors 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 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Rory Harvey sold 2,302 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the sale, the executive vice president now directly owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Paul A. Jacobson bought 25,000 shares of the stock in a transaction dated Friday, July 26th. The stock was 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 owns 261,872 shares of the company’s stock, 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 corporate insiders.

General Motors Stock Performance

Shares of NYSE GM opened at $48.05 on Tuesday. General Motors has a one year low of $26.30 and a one year high of $50.50. The business’s 50-day moving average price is $46.25 and its two-hundred day moving average price is $45.36. 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 capitalization of $54.82 billion, a P/E ratio of 5.87, a price-to-earnings-growth ratio of 0.52 and a beta of 1.43.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.67 by $0.39. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The business 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 business earned $1.91 EPS. General Motors’s quarterly revenue was up 7.2% compared to the same quarter last year. Analysts anticipate that General Motors will post 9.95 earnings per share for the current fiscal year.

General Motors Announces Dividend

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 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend was Friday, September 6th. General Motors’s dividend payout ratio is presently 5.87%.

General Motors declared that its Board of Directors has initiated a stock repurchase 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 reacquire up to 10.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

About General Motors

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.