Xponance Inc. Reduces Stock Position in General Motors (NYSE:GM)

Xponance Inc. trimmed its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 6.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 158,462 shares of the auto manufacturer’s stock after selling 11,590 shares during the period. Xponance Inc.’s holdings in General Motors were worth $7,362,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. LifeSteps Financial Inc. bought a new position in General Motors in the 1st quarter worth $25,000. Wellington Shields Capital Management LLC bought a new position in General Motors in the second quarter worth about $28,000. Fortitude Family Office LLC lifted its holdings in General Motors by 56.1% in the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after buying an additional 225 shares during the period. Cape Investment Advisory Inc. boosted its position in General Motors by 75.9% during the 4th 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 in the last quarter. Finally, Montag A & Associates Inc. purchased a new position in shares of General Motors during the 1st quarter worth approximately $30,000. 92.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GM shares. Wells Fargo & Company lowered their target price on General Motors from $34.00 to $33.00 and set an “underweight” rating for the company in a research note on Tuesday, September 10th. Sanford C. Bernstein cut shares of General Motors from an “outperform” rating to a “market perform” rating and set a $53.00 target price on the stock. in a report on Monday. Wedbush reissued an “outperform” rating and set a $55.00 price target on shares of General Motors in a research report on Wednesday, July 24th. StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, UBS Group lifted their target price on shares of General Motors from $61.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $55.17.

General Motors Trading Down 1.7 %

NYSE:GM opened at $48.05 on Tuesday. The company has a market cap of $54.82 billion, a PE ratio of 5.87, a price-to-earnings-growth ratio of 0.52 and a beta of 1.43. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. The company has a 50 day simple moving average of $46.25 and a two-hundred day simple moving average of $45.36. General Motors has a 12 month low of $26.30 and a 12 month high of $50.50.

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

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors 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 annualized dividend and a yield of 1.00%. General Motors’s dividend payout ratio (DPR) is 5.87%.

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

Insiders Place Their Bets

In other news, EVP Rory Harvey sold 12,795 shares of the business’s stock in a transaction 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 available at this hyperlink. In other news, CFO Paul A. Jacobson purchased 25,000 shares of the stock in a transaction 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 acquisition, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at $11,551,173.92. The acquisition was disclosed in a document filed with the SEC, which is available at 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 transaction 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 $417,307.26. The disclosure for this sale can be found here. 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.