Lynx Investment Advisory Invests $36,000 in General Motors (NYSE:GM)

Lynx Investment Advisory acquired 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 Securities and Exchange Commission (SEC). The institutional investor acquired 765 shares of the auto manufacturer’s stock, valued at approximately $36,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of General Motors in the fourth quarter valued at $602,280,000. Capital World Investors boosted its position in shares of General Motors by 14.6% in the first quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock worth $2,211,609,000 after buying an additional 6,201,777 shares during the period. Swedbank AB acquired a new stake in General Motors during the 1st quarter valued at $159,750,000. Hotchkis & Wiley Capital Management LLC raised its position in shares of General Motors by 21.9% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock valued at $650,062,000 after purchasing an additional 3,247,050 shares in the last quarter. Finally, Putnam Investments LLC increased its position in shares of General Motors by 16.8% in the 4th quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock worth $726,942,000 after purchasing an additional 2,905,689 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Trading Up 1.2 %

Shares of General Motors stock traded up $0.47 on Wednesday, reaching $41.08. The company had a trading volume of 5,240,530 shares, compared to its average volume of 15,966,382. General Motors has a 1 year low of $26.30 and a 1 year high of $50.50. The firm has a market cap of $46.87 billion, a price-to-earnings ratio of 4.96, a P/E/G ratio of 0.44 and a beta of 1.43. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99. The firm’s 50-day moving average price is $46.27 and its two-hundred day moving average price is $43.42.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $0.39. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The firm had revenue of $47.97 billion for the quarter, compared to analyst estimates of $45.13 billion. During the same period in the previous year, the company earned $1.91 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, research analysts predict that General Motors will post 9.94 earnings per share for the current fiscal year.

General Motors announced that its Board of Directors has approved a stock buyback program on Tuesday, June 11th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the auto manufacturer to buy up to 10.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Friday, September 6th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Friday, September 6th. General Motors’s payout ratio is currently 5.87%.

Insider Activity

In other news, CFO Paul A. Jacobson purchased 25,000 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were bought 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 $11,551,173.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Paul A. Jacobson bought 25,000 shares of the firm’s stock in a transaction that occurred 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 completion of the acquisition, the chief financial officer now owns 261,872 shares in the company, valued at approximately $11,551,173.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Mark L. Reuss sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the sale, the president now owns 176,907 shares in the company, valued at $7,684,840.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,152,621 shares of company stock valued at $51,818,111. 0.72% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Bank of America restated a “buy” rating and set a $75.00 price target on shares of General Motors in a research report on Wednesday, June 12th. UBS Group upped their price objective on shares of General Motors from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Royal Bank of Canada upped their price objective on shares of General Motors from $54.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, April 23rd. Nomura lowered General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective on the stock. in a research note on Monday. Finally, Citigroup lifted their price target on General Motors from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock 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.