Legacy Capital Group California Inc. Acquires 2,384 Shares of General Motors (NYSE:GM)

Legacy Capital Group California Inc. boosted its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 54.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,801 shares of the auto manufacturer’s stock after buying an additional 2,384 shares during the quarter. Legacy Capital Group California Inc.’s holdings in General Motors were worth $305,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. ACR Alpine Capital Research LLC raised its stake in 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 valued at $287,408,000 after acquiring an additional 492,693 shares during the period. BDF Gestion purchased a new stake in shares of General Motors during the 2nd quarter valued at approximately $2,886,000. Atomi Financial Group Inc. bought a new position in General Motors in the 1st quarter worth approximately $244,000. Cetera Investment Advisers grew its stake in General Motors by 98.5% in the 1st quarter. Cetera Investment Advisers now owns 330,611 shares of the auto manufacturer’s stock valued at $14,993,000 after buying an additional 164,083 shares in the last quarter. Finally, Susquehanna International Group Ltd. bought a new stake in General Motors during the 2nd quarter valued at $636,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Activity at General Motors

In other General Motors news, EVP Rory Harvey sold 2,302 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the transaction, the executive vice president now owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other General Motors news, EVP Rory Harvey sold 2,302 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $47.31, for a total value of $108,907.62. Following the sale, the executive vice president now owns 10,356 shares in the company, valued at approximately $489,942.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the transaction, the chief executive officer now owns 694,548 shares of the company’s stock, valued at $37,040,244.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 531,228 shares of company stock worth $28,267,714 over the last ninety days. 0.72% of the stock is owned by corporate insiders.

General Motors Stock Down 1.2 %

Shares of General Motors stock opened at $52.07 on Friday. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. General Motors has a 12-month low of $26.30 and a 12-month high of $54.29. The company has a market cap of $59.41 billion, a P/E ratio of 6.37, a PEG ratio of 0.56 and a beta of 1.42. The company’s fifty day simple moving average is $47.68 and its two-hundred day simple moving average is $46.13.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.47. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The company had revenue of $48.76 billion for the quarter, compared to analysts’ expectations of $44.67 billion. During the same quarter in the previous year, the company earned $2.28 earnings per share. General Motors’s quarterly revenue was up 10.5% on a year-over-year basis. Research analysts anticipate that General Motors will post 9.95 EPS for the current year.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date is Friday, December 6th. General Motors’s payout ratio is presently 5.87%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Royal Bank of Canada raised their price target on General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday. Morgan Stanley lowered General Motors from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $47.00 to $42.00 in a report on Wednesday, September 25th. DZ Bank downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target on the stock. in a report on Friday, October 11th. The Goldman Sachs Group boosted their price objective on shares of General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Finally, Sanford C. Bernstein increased their target price on shares of General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $56.92.

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.