Wedmont Private Capital Raises Position in General Motors (NYSE:GM)

Wedmont Private Capital lifted its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 8.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 8,886 shares of the auto manufacturer’s stock after purchasing an additional 712 shares during the period. Wedmont Private Capital’s holdings in General Motors were worth $409,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Capital World Investors boosted its position in General Motors by 14.6% during the 1st quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock valued at $2,211,609,000 after acquiring an additional 6,201,777 shares in the last quarter. Swedbank AB bought a new stake in General Motors during the 1st quarter valued at $159,750,000. Artemis Investment Management LLP boosted its position in General Motors by 581.4% during the 3rd quarter. Artemis Investment Management LLP now owns 1,601,856 shares of the auto manufacturer’s stock valued at $71,827,000 after acquiring an additional 1,366,768 shares in the last quarter. Retirement Systems of Alabama boosted its position in General Motors by 366.6% during the 1st quarter. Retirement Systems of Alabama now owns 1,408,345 shares of the auto manufacturer’s stock valued at $63,868,000 after acquiring an additional 1,106,526 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in General Motors by 9.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock valued at $600,291,000 after acquiring an additional 1,091,137 shares in the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at General Motors

In related news, 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 transaction, the executive vice president now directly owns 8,513 shares in the company, valued at approximately $417,307.26. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, 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 transaction, the executive vice president now directly owns 8,513 shares in the company, valued at approximately $417,307.26. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the transaction, the chief financial officer now owns 261,872 shares of the company’s stock, valued at $11,551,173.92. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.72% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

GM has been the subject of a number of recent analyst reports. Morgan Stanley cut General Motors from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $47.00 to $42.00 in a research report on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $53.00 price target on shares of General Motors in a research report on Tuesday, September 10th. Wolfe Research started coverage on General Motors in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Wedbush reaffirmed an “outperform” rating and set a $55.00 price target on shares of General Motors in a research report on Wednesday. Finally, Nomura Securities upgraded General Motors to a “strong sell” rating in a research note on Monday, August 5th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, General Motors presently has an average rating of “Hold” and a consensus price target of $55.16.

General Motors Trading Up 0.4 %

Shares of General Motors stock opened at $47.87 on Friday. The stock has a market cap of $53.80 billion, a P/E ratio of 5.38, a P/E/G ratio of 0.56 and a beta of 1.42. The stock’s 50 day simple moving average is $46.27 and its 200-day simple moving average is $45.80. General Motors has a 1-year low of $26.30 and a 1-year high of $50.50. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results 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. The business had revenue of $47.97 billion for 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 business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.91 EPS. Analysts predict that General Motors will post 9.95 EPS for the current fiscal year.

General Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Friday, September 6th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend was Friday, September 6th. General Motors’s dividend payout ratio is presently 5.39%.

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.