General Motors (NYSE:GM) Shares Sold by Whitebox Advisors LLC

Whitebox Advisors LLC lowered its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 11.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 187,991 shares of the auto manufacturer’s stock after selling 25,000 shares during the quarter. Whitebox Advisors LLC’s holdings in General Motors were worth $8,734,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in GM. LifeSteps Financial Inc. acquired a new stake in shares of General Motors in the first quarter valued at about $25,000. Wellington Shields Capital Management LLC acquired a new stake in shares of General Motors during the 2nd quarter valued at approximately $28,000. Fortitude Family Office LLC boosted its stake in shares of 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 acquiring an additional 225 shares in the last quarter. Cape Investment Advisory Inc. grew its holdings in shares of General Motors by 75.9% in the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after acquiring an additional 359 shares during the period. Finally, Montag A & Associates Inc. purchased a new position in General Motors in the 1st 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 other news, EVP Rory Harvey sold 12,795 shares of the business’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 owns 8,513 shares in the company, valued at approximately $417,307.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other General Motors 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 value of $627,210.90. Following the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $417,307.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Paul A. Jacobson bought 25,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was bought at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the transaction, the chief financial officer now directly 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.

General Motors Trading Up 0.1 %

Shares of GM stock opened at $48.07 on Wednesday. The firm’s 50-day simple moving average is $46.22 and its 200-day simple moving average is $45.42. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99. General Motors has a 1-year low of $26.30 and a 1-year high of $50.50. The firm has a market cap of $54.03 billion, a P/E ratio of 5.88, a PEG ratio of 0.56 and a beta of 1.43.

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 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 the consensus estimate of $45.13 billion. During the same quarter last year, the firm posted $1.91 earnings per share. General Motors’s revenue was up 7.2% on a year-over-year basis. As a group, equities analysts forecast that General Motors will post 9.95 EPS for the current year.

General Motors announced that its board has initiated a share repurchase plan on Tuesday, June 11th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the auto manufacturer to reacquire up to 10.8% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, September 6th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date was Friday, September 6th. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

Analyst Upgrades and Downgrades

GM has been the topic of several research reports. Morgan Stanley lowered General Motors from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $46.00 to $47.00 in a report on Wednesday, July 24th. 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. Wedbush restated an “outperform” rating and set a $55.00 target price on shares of General Motors in a research report on Wednesday, July 24th. Wells Fargo & Company lowered their price target on shares of General Motors from $34.00 to $33.00 and set an “underweight” rating on the stock in a research report on Tuesday, September 10th. Finally, UBS Group lifted their price objective on General Motors from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $55.17.

General Motors Company 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.