Fairscale Capital LLC Takes Position in General Motors (NYSE:GM)

Fairscale Capital LLC purchased a new position in General Motors (NYSE:GM) (TSE:GMM.U) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 720 shares of the auto manufacturer’s stock, valued at approximately $36,000.

A number of other large investors also recently bought and sold shares of the business. LifeSteps Financial Inc. purchased a new stake in shares of General Motors in the first quarter worth $25,000. Wellington Shields Capital Management LLC purchased a new stake in General Motors during the 2nd quarter valued at 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 valued at $29,000 after purchasing an additional 225 shares in the last quarter. Cape Investment Advisory Inc. lifted its stake in shares of General Motors by 75.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after buying an additional 359 shares in the last quarter. Finally, Montag A & Associates Inc. purchased a new stake in shares of General Motors during the first quarter valued at approximately $30,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Trading Up 0.5 %

Shares of NYSE:GM opened at $48.88 on Monday. The stock has a 50 day moving average of $46.28 and a 200 day moving average of $45.29. The company has a market cap of $55.77 billion, a PE ratio of 5.98, a price-to-earnings-growth ratio of 0.52 and a beta of 1.43. 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.

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 for the quarter, beating the consensus estimate of $2.67 by $0.39. The business had revenue of $47.97 billion for the quarter, compared to the consensus estimate of $45.13 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.91 earnings per share. As a group, equities research analysts expect that General Motors will post 9.95 EPS for the current year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, September 6th were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.98%. General Motors’s payout ratio is presently 5.87%.

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

Analyst Ratings Changes

GM has been the topic of several analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $55.00 price objective on shares of General Motors in a research report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their price objective on General Motors from $60.00 to $61.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. StockNews.com lowered General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Nomura downgraded shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target on the stock. in a report on Monday, August 5th. Finally, Nomura Securities raised shares of General Motors to a “strong sell” rating in a report on Monday, August 5th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.27.

Insider Buying and Selling at General Motors

In other news, EVP Rory Harvey sold 12,795 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 8,513 shares of the company’s stock, valued at $417,307.26. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Paul A. Jacobson purchased 25,000 shares of General Motors stock in a transaction on Friday, July 26th. The shares were bought at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Rory Harvey sold 12,795 shares of the business’s stock in a transaction 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 completion of the sale, the executive vice president now owns 8,513 shares in the company, valued at approximately $417,307.26. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

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.