General Motors (NYSE:GM) Stake Raised by Signet Financial Management LLC

Signet Financial Management LLC raised its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 24.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,769 shares of the auto manufacturer’s stock after purchasing an additional 5,414 shares during the period. Signet Financial Management LLC’s holdings in General Motors were worth $1,259,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GM. Highlander Capital Management LLC purchased a new stake in shares of General Motors during the 4th quarter worth about $27,000. Cape Investment Advisory Inc. increased its holdings in shares of 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 during the last quarter. Sachetta LLC acquired a new position in shares of General Motors during the 4th quarter valued at about $33,000. Bfsg LLC acquired a new position in shares of General Motors during the 4th quarter valued at about $35,000. Finally, Tennessee Valley Asset Management Partners acquired a new position in shares of General Motors during the 4th quarter valued at about $36,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Mizuho increased their price objective on General Motors from $48.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Wedbush increased their price objective on General Motors from $45.00 to $55.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Sanford C. Bernstein started coverage on General Motors in a report on Thursday, April 25th. They set an “outperform” rating and a $55.00 price objective on the stock. UBS Group raised their target price on General Motors from $58.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Finally, Citigroup raised their target price on General Motors from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.91.

Insider Buying and Selling

In related news, CEO Mary T. Barra sold 326,305 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was 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 approximately $43,431,657.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other General Motors news, CEO Mary T. Barra sold 326,305 shares of General Motors stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $48.33, for a total value 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 approximately $43,431,657.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Mark L. Reuss sold 150,000 shares of General Motors stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $43.44, for a total value of $6,516,000.00. Following the completion of the transaction, the president now owns 176,907 shares of the company’s stock, valued at approximately $7,684,840.08. The disclosure for this sale can be found here. Insiders sold 1,152,621 shares of company stock worth $51,818,111 in the last 90 days. 0.72% of the stock is owned by company insiders.

General Motors Price Performance

Shares of GM stock opened at $45.59 on Friday. The stock has a 50 day moving average of $45.45 and a two-hundred day moving average of $41.23. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 1.22. General Motors has a 12 month low of $26.30 and a 12 month high of $49.35. The company has a market capitalization of $52.02 billion, a P/E ratio of 5.57, a P/E/G ratio of 0.48 and a beta of 1.46.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, topping the consensus estimate of $2.02 by $0.60. The business had revenue of $43.01 billion during the quarter, compared to the consensus estimate of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. General Motors’s revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the company earned $2.21 EPS. As a group, equities analysts expect that General Motors will post 9.43 EPS for the current year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Friday, June 7th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.05%. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

General Motors announced that its board has approved a stock buyback plan on Tuesday, June 11th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the auto manufacturer to purchase up to 10.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

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.