Sanders Morris Harris LLC Takes $208,000 Position in General Motors (NYSE:GM)

Sanders Morris Harris LLC acquired a new stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,590 shares of the auto manufacturer’s stock, valued at approximately $208,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Highlander Capital Management LLC acquired a new stake in General Motors in the 4th quarter valued at $27,000. Cape Investment Advisory Inc. boosted its stake in General Motors by 75.9% in the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock valued at $30,000 after buying an additional 359 shares in the last quarter. Sachetta LLC acquired a new position in General Motors in the fourth quarter worth $33,000. Bfsg LLC acquired a new position in General Motors in the fourth quarter worth $35,000. Finally, Tennessee Valley Asset Management Partners acquired a new position in General Motors in the fourth quarter worth $36,000. 92.67% of the stock is currently owned by institutional investors.

General Motors Trading Down 0.1 %

NYSE GM traded down $0.05 during trading on Friday, reaching $47.72. 16,737,261 shares of the stock traded hands, compared to its average volume of 13,246,204. The firm has a market cap of $54.45 billion, a price-to-earnings ratio of 5.83, a price-to-earnings-growth ratio of 0.55 and a beta of 1.46. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $49.35. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 1.22. The stock’s 50-day moving average price is $45.20 and its 200 day moving average price is $40.95.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.60. The company had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.21 earnings per share. Analysts predict that General Motors will post 9.44 EPS for the current year.

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

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Friday, June 7th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.01%. The ex-dividend date was Friday, June 7th. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

Insider Activity

In related news, CEO Mary T. Barra sold 326,305 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $48.33, for a total transaction of $15,770,320.65. Following the completion of the transaction, the chief executive officer now owns 898,648 shares in the company, valued at $43,431,657.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Mary T. Barra sold 326,305 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $48.33, for a total transaction of $15,770,320.65. Following the completion of the transaction, the chief executive officer now owns 898,648 shares in the company, valued at $43,431,657.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Christopher Hatto sold 3,500 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $45.00, for a total transaction of $157,500.00. Following the transaction, the chief accounting officer now owns 12,007 shares of the company’s stock, valued at approximately $540,315. The disclosure for this sale can be found here. Insiders sold 1,183,243 shares of company stock worth $53,203,153 over the last quarter. 0.72% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented on GM shares. Morgan Stanley boosted their price objective on General Motors from $43.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 10th. Sanford C. Bernstein initiated coverage on General Motors in a research note on Thursday, April 25th. They issued an “outperform” rating and a $55.00 price objective on the stock. Citigroup upped their price target on General Motors from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Barclays boosted their price objective on General Motors from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Finally, Royal Bank of Canada raised their target price on shares of General Motors from $54.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.81.

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.