General Motors (NYSE:GM) Shares Sold by MGO One Seven LLC

MGO One Seven LLC cut its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 8.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,506 shares of the auto manufacturer’s stock after selling 2,371 shares during the quarter. MGO One Seven LLC’s holdings in General Motors were worth $1,139,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of GM. Public Employees Retirement Association of Colorado lifted its position in General Motors by 1,213.0% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 2,203,771 shares of the auto manufacturer’s stock worth $79,159,000 after acquiring an additional 2,035,925 shares in the last quarter. US Bancorp DE grew its holdings in General Motors by 59.3% during the 4th quarter. US Bancorp DE now owns 86,888 shares of the auto manufacturer’s stock valued at $3,121,000 after purchasing an additional 32,331 shares in the last quarter. GSA Capital Partners LLP increased its stake in General Motors by 317.6% during the 4th quarter. GSA Capital Partners LLP now owns 67,807 shares of the auto manufacturer’s stock worth $2,436,000 after buying an additional 51,571 shares during the period. ACR Alpine Capital Research LLC lifted its holdings in General Motors by 8.4% in the 1st quarter. ACR Alpine Capital Research LLC now owns 6,337,547 shares of the auto manufacturer’s stock worth $287,408,000 after buying an additional 492,693 shares in the last quarter. Finally, BDF Gestion purchased a new position in General Motors in the 2nd quarter valued at about $2,886,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Stock Performance

Shares of NYSE GM opened at $46.13 on Friday. General Motors has a 12-month low of $26.30 and a 12-month high of $50.50. 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 market cap of $52.63 billion, a PE ratio of 5.64, a P/E/G ratio of 0.47 and a beta of 1.43. The stock has a 50 day simple moving average of $46.19 and a 200-day simple moving average of $44.93.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $45.13 billion. During the same quarter in the prior year, the business posted $1.91 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities research analysts forecast that General Motors will post 9.94 EPS for the current year.

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

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Friday, September 6th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, September 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.04%. General Motors’s dividend payout ratio (DPR) is 5.87%.

Insider Transactions at General Motors

In related news, CFO Paul A. Jacobson acquired 25,000 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were acquired at an average price of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the purchase, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at $11,551,173.92. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Rory Harvey sold 12,795 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $49.02, for a total value of $627,210.90. Following the completion of the sale, the executive vice president now owns 8,513 shares in the company, valued at $417,307.26. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Paul A. Jacobson bought 25,000 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were purchased at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the acquisition, the chief financial officer now owns 261,872 shares of the company’s stock, valued at $11,551,173.92. The disclosure for this purchase can be found here. Company insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

GM has been the topic of several analyst reports. Wolfe Research began coverage on General Motors in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Royal Bank of Canada cut their price target on shares of General Motors from $58.00 to $54.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Morgan Stanley lowered shares of General Motors from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $46.00 to $47.00 in a report on Wednesday, July 24th. Nomura Securities upgraded shares of General Motors to a “strong sell” rating in a research note on Monday, August 5th. Finally, UBS Group lifted their price target on General Motors from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $55.27.

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.