303,749 Shares in General Motors (NYSE:GM) Purchased by Sanctuary Advisors LLC

Sanctuary Advisors LLC acquired a new position in shares of General Motors (NYSE:GM) (TSE:GMM.U) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 303,749 shares of the auto manufacturer’s stock, valued at approximately $13,924,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. GSA Capital Partners LLP grew its stake in shares of General Motors by 317.6% in 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 last quarter. ACR Alpine Capital Research LLC raised its position in shares of 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 purchasing an additional 492,693 shares during the last quarter. BDF Gestion bought a new position in General Motors in the 2nd quarter worth about $2,886,000. Morningstar Investment Services LLC grew its position in General Motors by 99.0% during the 4th quarter. Morningstar Investment Services LLC now owns 287,315 shares of the auto manufacturer’s stock valued at $10,401,000 after purchasing an additional 142,920 shares during the last quarter. Finally, Atomi Financial Group Inc. bought a new stake in General Motors during the 1st quarter valued at about $244,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Activity at General Motors

In other news, CFO Paul A. Jacobson acquired 25,000 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was acquired at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the purchase, the chief financial officer now directly owns 261,872 shares in the company, valued at $11,551,173.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other General Motors news, CFO Paul A. Jacobson bought 25,000 shares of General Motors stock in a transaction 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 in the company, valued at approximately $11,551,173.92. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total transaction of $108,907.62. Following the sale, the executive vice president now directly owns 10,356 shares of the company’s stock, valued at $489,942.36. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

GM has been the topic of several analyst reports. Wolfe Research began coverage on shares of General Motors in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Morgan Stanley downgraded General Motors from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $47.00 to $42.00 in a research note on Wednesday, September 25th. Bank of America reissued a “buy” rating and issued a $75.00 target price on shares of General Motors in a report on Wednesday, June 12th. The Goldman Sachs Group upped their price target on General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Royal Bank of Canada reduced their price objective on General Motors from $58.00 to $54.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $55.47.

General Motors Trading Down 0.1 %

Shares of GM stock opened at $44.82 on Thursday. The company has a market cap of $51.13 billion, a PE ratio of 5.48, a price-to-earnings-growth ratio of 0.56 and a beta of 1.42. General Motors has a 1 year low of $26.30 and a 1 year high of $50.50. The stock’s 50 day simple moving average is $45.86 and its two-hundred day simple moving average is $45.61. 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 (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 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 the consensus estimate of $45.13 billion. During the same period last year, the company earned $1.91 earnings per share. General Motors’s revenue was up 7.2% on a year-over-year basis. Research analysts predict that General Motors will post 9.95 earnings per share for the current year.

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

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Friday, September 6th were paid a dividend of $0.12 per share. The ex-dividend date was Friday, September 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.07%. General Motors’s dividend payout ratio is presently 5.87%.

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.