Rathbones Group PLC Buys 380 Shares of General Motors (NYSE:GM)

Rathbones Group PLC increased its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 6.9% in the second quarter, Holdings Channel reports. The institutional investor owned 5,858 shares of the auto manufacturer’s stock after acquiring an additional 380 shares during the period. Rathbones Group PLC’s holdings in General Motors were worth $272,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of GM. Plato Investment Management Ltd boosted its position in shares of General Motors by 3.6% during the second quarter. Plato Investment Management Ltd now owns 57,703 shares of the auto manufacturer’s stock valued at $2,681,000 after buying an additional 1,989 shares during the period. WINTON GROUP Ltd purchased a new stake in shares of General Motors during the second quarter valued at $4,619,000. Oppenheimer Asset Management Inc. grew its holdings in shares of General Motors by 12.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 1,428,348 shares of the auto manufacturer’s stock worth $66,361,000 after purchasing an additional 156,543 shares during the last quarter. Thoroughbred Financial Services LLC purchased a new position in General Motors in the 2nd quarter worth about $1,077,000. Finally, Parallel Advisors LLC lifted its holdings in General Motors by 25.7% during the 2nd quarter. Parallel Advisors LLC now owns 14,369 shares of the auto manufacturer’s stock valued at $668,000 after buying an additional 2,934 shares in the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Price Performance

Shares of GM opened at $47.53 on Wednesday. The firm has a market capitalization of $54.23 billion, a PE ratio of 5.81, a price-to-earnings-growth ratio of 0.52 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 company’s fifty day moving average price is $46.22 and its 200-day moving average price is $45.12. General Motors has a 1-year low of $26.30 and a 1-year high of $50.50.

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

General Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, September 6th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Friday, September 6th. General Motors’s dividend payout ratio (DPR) is currently 5.87%.

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on GM shares. Royal Bank of Canada reduced their target price on shares of General Motors from $58.00 to $54.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Wells Fargo & Company lowered their target price on General Motors from $34.00 to $33.00 and set an “underweight” rating for the company in a report on Tuesday, September 10th. Wolfe Research started coverage on General Motors in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $53.00 target price on shares of General Motors in a research report on Tuesday, September 10th. Finally, Bank of America reaffirmed a “buy” rating and issued a $75.00 price target on shares of General Motors in a research report on Wednesday, June 12th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, General Motors has a consensus rating of “Moderate Buy” and a consensus target price of $55.27.

Insider Transactions at General Motors

In other General Motors 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 bought at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the transaction, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Paul A. Jacobson purchased 25,000 shares of General Motors stock in a transaction that occurred on Friday, July 26th. The stock was bought at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the transaction, the chief financial officer now owns 261,872 shares in the company, valued at $11,551,173.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 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. Company 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.