Beaton Management Co. Inc. Purchases New Shares in General Motors (NYSE:GM)

Beaton Management Co. Inc. bought a new position in General Motors (NYSE:GM) (TSE:GMM.U) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 4,680 shares of the auto manufacturer’s stock, valued at approximately $217,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SJS Investment Consulting Inc. boosted its position in General Motors by 34.5% in the second quarter. SJS Investment Consulting Inc. now owns 792 shares of the auto manufacturer’s stock worth $37,000 after purchasing an additional 203 shares during the last quarter. Fortitude Family Office LLC increased its holdings in General Motors by 56.1% during the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after buying an additional 225 shares during the last quarter. SeaCrest Wealth Management LLC raised its position in General Motors by 3.5% in the second 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. boosted its stake in 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 acquiring an additional 230 shares during the last quarter. Finally, Beech Hill Advisors Inc. grew its position in shares of General Motors by 1.6% during the 2nd quarter. Beech Hill Advisors Inc. now owns 15,233 shares of the auto manufacturer’s stock valued at $708,000 after acquiring an additional 233 shares during the period. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Stock Down 0.1 %

Shares of NYSE:GM opened at $48.62 on Friday. The firm has a market capitalization 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 company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18. The stock has a 50 day moving average price of $46.28 and a 200-day moving average price of $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 announced its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, beating the consensus estimate of $2.67 by $0.39. The business had revenue of $47.97 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $1.91 earnings per share. As a group, equities research analysts anticipate that General Motors will post 9.95 EPS for the current fiscal year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, September 6th were issued 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 0.99%. General Motors’s payout ratio is 5.87%.

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

Analyst Ratings Changes

GM has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $53.00 price objective on shares of General Motors in a research note on Tuesday, September 10th. Nomura Securities upgraded General Motors to a “strong sell” rating in a research note on Monday, August 5th. UBS Group raised their target price on General Motors from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Wedbush reissued an “outperform” rating and issued a $55.00 price target on shares of General Motors in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of General Motors from $60.00 to $61.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, General Motors presently has an average rating of “Moderate Buy” and an average price target of $55.27.

Insider Buying and Selling

In other news, EVP Rory Harvey sold 12,795 shares of General Motors stock in a transaction dated 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 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 SEC, which is available through the SEC website. In other General Motors news, CFO Paul A. Jacobson purchased 25,000 shares of the firm’s stock in a transaction dated 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 purchase, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Rory Harvey sold 12,795 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 8,513 shares in the company, valued at $417,307.26. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

General Motors 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.