Leibman Financial Services Inc. Sells 43,822 Shares of General Motors (NYSE:GM)

Leibman Financial Services Inc. cut its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 89.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,208 shares of the auto manufacturer’s stock after selling 43,822 shares during the period. Leibman Financial Services Inc.’s holdings in General Motors were worth $234,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in GM. Putnam Investments LLC raised its holdings in General Motors by 16.8% in the fourth 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 period. Caxton Associates LP lifted its holdings in General Motors by 1,514.2% during the 4th quarter. Caxton Associates LP now owns 1,755,334 shares of the auto manufacturer’s stock worth $63,052,000 after purchasing an additional 1,646,594 shares during the last quarter. LM Advisors LLC bought a new position in shares of General Motors during the fourth quarter worth approximately $306,000. Point72 Italy S.r.l. bought a new position in shares of General Motors in the fourth quarter worth $13,218,000. Finally, SRS Investment Management LLC acquired a new stake in General Motors during the fourth quarter worth about $33,240,000. 92.67% of the stock is owned by institutional investors.

General Motors Stock Performance

Shares of NYSE GM opened at $46.01 on Wednesday. General Motors has a 12-month low of $26.30 and a 12-month high of $50.50. The firm has a 50 day moving average of $45.95 and a 200 day moving average of $45.71. The firm has a market capitalization of $52.50 billion, a price-to-earnings ratio of 5.62, a price-to-earnings-growth ratio of 0.56 and a beta of 1.42. 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 (NYSE:GM) (TSE:GMM.U) last posted its quarterly 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. The business had revenue of $47.97 billion during the quarter, compared to the consensus estimate of $45.13 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.91 EPS. On average, research analysts anticipate that General Motors will post 9.95 earnings per share for the current year.

General Motors declared that its board has authorized a share buyback program on Tuesday, June 11th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to reacquire up to 10.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, September 6th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.04%. The ex-dividend date was Friday, September 6th. General Motors’s dividend payout ratio is 5.87%.

Insider Activity at General Motors

In related news, CFO Paul A. Jacobson acquired 25,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the purchase, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at $11,551,173.92. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the transaction, the executive vice president now directly owns 10,356 shares in the company, valued at $489,942.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Paul A. Jacobson bought 25,000 shares of the stock in a transaction dated Friday, July 26th. The stock was bought at an average price of $44.11 per share, for a total transaction of $1,102,750.00. Following the purchase, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.72% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GM. Royal Bank of Canada reduced their price objective on shares of General Motors from $58.00 to $54.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Morgan Stanley downgraded shares of General Motors from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $47.00 to $42.00 in a report on Wednesday, September 25th. StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Wedbush restated an “outperform” rating and issued a $55.00 target price on shares of General Motors in a research note on Wednesday, July 24th. Finally, Wells Fargo & Company decreased their price objective on shares of General Motors from $34.00 to $33.00 and set an “underweight” rating for the company in a report on Tuesday, September 10th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $55.47.

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.