Quantbot Technologies LP Buys 35,579 Shares of General Motors (NYSE:GM)

Quantbot Technologies LP boosted its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 128.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,241 shares of the auto manufacturer’s stock after acquiring an additional 35,579 shares during the period. Quantbot Technologies LP’s holdings in General Motors were worth $2,938,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. LifeSteps Financial Inc. acquired a new position in shares of General Motors in the 1st quarter valued at about $25,000. Wellington Shields Capital Management LLC acquired a new position in General Motors in the second quarter valued at approximately $28,000. Fortitude Family Office LLC boosted its holdings 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 buying an additional 225 shares in the last quarter. Cape Investment Advisory Inc. grew its position in shares of General Motors by 75.9% during the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after buying an additional 359 shares during the period. Finally, Montag A & Associates Inc. bought a new stake in shares of General Motors in the 1st quarter valued at $30,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insider Buying and Selling at General Motors

In related news, EVP Rory Harvey sold 12,795 shares of General Motors stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $49.02, for a total value of $627,210.90. Following the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $417,307.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other General Motors news, CFO Paul A. Jacobson bought 25,000 shares of the business’s stock in a transaction on Friday, July 26th. The stock was purchased at an average price 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 $11,551,173.92. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Rory Harvey sold 12,795 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were 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 directly owns 8,513 shares in the company, valued at approximately $417,307.26. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

General Motors Price Performance

Shares of NYSE GM opened at $47.53 on Wednesday. The company has a market capitalization of $54.23 billion, a PE ratio of 5.81, a PEG ratio of 0.52 and a beta of 1.43. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. The stock’s 50 day moving average price is $46.22 and its 200-day moving average price is $45.12. General Motors has a twelve month low of $26.30 and a twelve month high of $50.50.

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

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

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Friday, September 6th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Friday, September 6th. General Motors’s dividend payout ratio is 5.87%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Wedbush reissued an “outperform” rating and set a $55.00 target price on shares of General Motors in a research note on Wednesday, July 24th. Bank of America reissued a “buy” rating and set a $75.00 price objective on shares of General Motors in a research report on Wednesday, June 12th. JPMorgan Chase & Co. boosted their target price on General Motors from $60.00 to $61.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Nomura lowered 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, Morgan Stanley cut General Motors from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $46.00 to $47.00 in a research note on Wednesday, July 24th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.27.

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.