Mutual of America Capital Management LLC Trims Stock Holdings in General Motors (NYSE:GM)

Mutual of America Capital Management LLC lowered its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 4.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 143,987 shares of the auto manufacturer’s stock after selling 7,467 shares during the period. Mutual of America Capital Management LLC’s holdings in General Motors were worth $6,690,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of GM. LifeSteps Financial Inc. bought a new stake in General Motors during the 1st quarter valued at $25,000. Wellington Shields Capital Management LLC bought a new stake in shares of General Motors during the 2nd quarter valued at $28,000. Fortitude Family Office LLC lifted its holdings in 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 purchasing an additional 225 shares in the last quarter. Cape Investment Advisory Inc. boosted its stake in 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 purchasing an additional 359 shares during the period. Finally, Montag A & Associates Inc. purchased a new position in General Motors during the 1st quarter valued at about $30,000. 92.67% of the stock is owned by institutional investors.

General Motors Price Performance

GM stock opened at $48.62 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18. The firm has a market cap of $55.47 billion, a P/E ratio of 5.94, a P/E/G ratio of 0.52 and a beta of 1.43. The firm’s fifty day moving average is $46.28 and its 200 day moving average is $45.17. General Motors has a 52 week low of $26.30 and a 52 week high of $50.50.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS 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 firm had revenue of $47.97 billion for the quarter, compared to the consensus estimate of $45.13 billion. During the same quarter in the previous year, the business earned $1.91 earnings per share. The company’s quarterly 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, September 6th were given a $0.12 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.48 annualized dividend and a yield of 0.99%. General Motors’s payout ratio is currently 5.87%.

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

Analysts Set New Price Targets

GM has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $53.00 price target on shares of General Motors in a report on Tuesday, September 10th. JPMorgan Chase & Co. increased their target price on shares of General Motors from $60.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Morgan Stanley cut shares of General Motors from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $46.00 to $47.00 in a report on Wednesday, July 24th. Finally, 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. Three 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 company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.27.

Insider Activity

In other news, CFO Paul A. Jacobson purchased 25,000 shares of the 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 acquisition, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other General Motors news, EVP Rory Harvey sold 12,795 shares of the 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Paul A. Jacobson bought 25,000 shares of General Motors stock in a transaction dated Friday, July 26th. The shares were acquired at an average cost 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 of the company’s stock, valued at approximately $11,551,173.92. The disclosure for this purchase can be found here. Insiders own 0.72% of the company’s stock.

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.