General Motors (NYSE:GM) Shares Sold by SYSTM Wealth Solutions LLC

SYSTM Wealth Solutions LLC lowered its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 20.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,457 shares of the auto manufacturer’s stock after selling 651 shares during the quarter. SYSTM Wealth Solutions LLC’s holdings in General Motors were worth $114,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. LifeSteps Financial Inc. purchased a new stake in shares of General Motors during the first quarter worth about $25,000. Wellington Shields Capital Management LLC acquired a new stake in General Motors in the 2nd quarter worth about $28,000. Fortitude Family Office LLC increased its stake in General Motors by 56.1% during the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after buying an additional 225 shares in the last quarter. Cape Investment Advisory Inc. raised its holdings in shares of General Motors by 75.9% during the fourth 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. Finally, Montag A & Associates Inc. purchased a new position in shares of General Motors in the first quarter valued at approximately $30,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at General Motors

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on GM. Bank of America reissued a “buy” rating and issued a $75.00 price objective on shares of General Motors in a research note on Wednesday, June 12th. StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Morgan Stanley cut shares of General Motors from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $46.00 to $47.00 in a research note on Wednesday, July 24th. Nomura Securities raised shares of General Motors to a “strong sell” rating in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. increased their price target on General Motors from $60.00 to $61.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. 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 company. According to MarketBeat, General Motors currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.27.

General Motors Trading Down 0.1 %

Shares of NYSE GM opened at $48.62 on Friday. The stock has a fifty day simple moving average of $46.28 and a 200-day simple moving average of $45.17. General Motors has a twelve month low of $26.30 and a twelve 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 stock has a market capitalization of $55.47 billion, a PE ratio of 5.94, a PEG ratio of 0.52 and a beta of 1.43.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.67 by $0.39. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The company had revenue of $47.97 billion for the quarter, compared to analyst estimates of $45.13 billion. During the same period in the prior year, the firm earned $1.91 earnings per share. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities analysts forecast that General Motors will post 9.95 earnings per share for the current year.

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

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, September 6th were given a $0.12 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.48 annualized dividend and a yield of 0.99%. General Motors’s dividend payout ratio is presently 5.87%.

About General Motors

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.