Frank Rimerman Advisors LLC Invests $220,000 in General Motors (NYSE:GM)

Frank Rimerman Advisors LLC acquired a new stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 4,741 shares of the auto manufacturer’s stock, valued at approximately $220,000.

Other hedge funds also recently bought and sold shares of the company. SJS Investment Consulting Inc. grew its position in shares of General Motors by 34.5% in the second quarter. SJS Investment Consulting Inc. now owns 792 shares of the auto manufacturer’s stock valued at $37,000 after purchasing an additional 203 shares in the last quarter. Fortitude Family Office LLC increased its stake in shares of General Motors by 56.1% in 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 during the last quarter. SeaCrest Wealth Management LLC raised its holdings in shares of General Motors by 3.5% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 6,804 shares of the auto manufacturer’s stock worth $316,000 after acquiring an additional 227 shares during the period. Institute for Wealth Management LLC. grew its holdings in shares of General Motors by 0.6% in the second quarter. Institute for Wealth Management LLC. now owns 36,624 shares of the auto manufacturer’s stock valued at $1,702,000 after purchasing an additional 230 shares during the period. Finally, Beech Hill Advisors Inc. grew its holdings in shares of General Motors by 1.6% in the second quarter. Beech Hill Advisors Inc. now owns 15,233 shares of the auto manufacturer’s stock valued at $708,000 after purchasing an additional 233 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analyst Ratings Changes

GM has been the topic of several recent analyst reports. Morgan Stanley lowered shares of General Motors from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $47.00 to $42.00 in a report on Wednesday. Wolfe Research began coverage on General Motors in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. Bank of America reaffirmed a “buy” rating and issued a $75.00 price target on shares of General Motors in a research note on Wednesday, June 12th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $53.00 price objective on shares of General Motors in a research report on Tuesday, September 10th. Finally, Sanford C. Bernstein lowered shares of General Motors from an “outperform” rating to a “market perform” rating and set a $53.00 target price for the company. in a research note on Monday. Four analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, General Motors presently has an average rating of “Hold” and a consensus price target of $54.92.

Insider Activity

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

General Motors Price Performance

GM stock opened at $45.72 on Thursday. General Motors has a 1 year low of $26.30 and a 1 year high of $50.50. The firm has a market capitalization of $51.39 billion, a P/E ratio of 5.59, a P/E/G ratio of 0.56 and a beta of 1.43. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99. The business’s 50-day moving average is $46.22 and its two-hundred day moving average is $45.42.

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 during the quarter, compared to the consensus estimate of $45.13 billion. During the same quarter in the previous year, the firm earned $1.91 earnings per share. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. Analysts anticipate that General Motors will post 9.95 earnings per share for the current fiscal year.

General Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, September 6th were given a dividend of $0.12 per share. The ex-dividend date was Friday, September 6th. This represents a $0.48 annualized dividend and a dividend yield of 1.05%. General Motors’s dividend payout ratio is currently 5.87%.

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

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.