General Motors (NYSE:GM) Stock Position Lifted by Addison Advisors LLC

Addison Advisors LLC lifted its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 15.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 4,457 shares of the auto manufacturer’s stock after purchasing an additional 583 shares during the quarter. Addison Advisors LLC’s holdings in General Motors were worth $207,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of GM. Norges Bank bought a new position in shares of General Motors in the fourth quarter worth $602,280,000. Capital World Investors boosted its stake in General Motors by 14.6% during the first quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock valued at $2,211,609,000 after buying an additional 6,201,777 shares in the last quarter. Swedbank AB bought a new position in General Motors during the first quarter valued at about $159,750,000. Hotchkis & Wiley Capital Management LLC boosted its stake in General Motors by 21.9% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock valued at $650,062,000 after buying an additional 3,247,050 shares in the last quarter. Finally, Putnam Investments LLC boosted its stake in General Motors by 16.8% during the fourth quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock valued at $726,942,000 after buying an additional 2,905,689 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

General Motors Stock Down 2.1 %

Shares of General Motors stock opened at $47.15 on Friday. The stock has a 50-day moving average price of $46.27 and a 200 day moving average price of $44.75. The company has a market cap of $53.80 billion, a P/E ratio of 5.76, a P/E/G ratio of 0.50 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. General Motors has a 1 year low of $26.30 and a 1 year high of $50.50.

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 analysts’ consensus estimates of $2.67 by $0.39. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The company had revenue of $47.97 billion during the quarter, compared to the consensus estimate of $45.13 billion. During the same period last year, the business earned $1.91 EPS. The business’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, analysts expect that General Motors will post 9.94 EPS for the current fiscal year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, September 6th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Friday, September 6th. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

General Motors declared that its Board of Directors has approved a share buyback plan on Tuesday, June 11th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to buy up to 10.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. UBS Group raised their target price on General Motors from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Wedbush reaffirmed an “outperform” rating and set a $55.00 target price on shares of General Motors in a research note on Wednesday, July 24th. Bank of America reaffirmed a “buy” rating and set a $75.00 target price on shares of General Motors in a research note on Wednesday, June 12th. Wells Fargo & Company increased their price target on General Motors from $32.00 to $34.00 and gave the company an “underweight” rating in a research report on Wednesday, July 24th. Finally, Wolfe Research started coverage on General Motors in a research report on Thursday. They issued a “peer perform” rating for the company. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.17.

Insider Transactions at General Motors

In other news, EVP Rory Harvey sold 12,795 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at approximately $417,307.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Mary T. Barra sold 326,305 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 898,648 shares of the company’s stock, valued at approximately $43,431,657.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Rory Harvey sold 12,795 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $49.02, for a total value of $627,210.90. Following the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at approximately $417,307.26. The disclosure for this sale can be found here. Insiders sold 376,544 shares of company stock valued at $18,134,919 in the last three months. Corporate insiders own 0.72% of the company’s stock.

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.