Guidance Capital Inc. Increases Stock Holdings in General Motors (NYSE:GM)

Guidance Capital Inc. raised its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 5.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,136 shares of the auto manufacturer’s stock after purchasing an additional 975 shares during the quarter. Guidance Capital Inc.’s holdings in General Motors were worth $848,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Resonant Capital Advisors LLC grew its stake in shares of General Motors by 17.6% in the 2nd quarter. Resonant Capital Advisors LLC now owns 6,691 shares of the auto manufacturer’s stock valued at $311,000 after purchasing an additional 1,000 shares during the last quarter. Natixis Advisors LLC boosted its stake in shares of General Motors by 1.5% in the second quarter. Natixis Advisors LLC now owns 1,256,606 shares of the auto manufacturer’s stock valued at $58,382,000 after buying an additional 18,591 shares in the last quarter. Drive Wealth Management LLC purchased a new stake in shares of General Motors in the second quarter valued at approximately $201,000. Mitchell Mcleod Pugh & Williams Inc. boosted its stake in shares of General Motors by 7.9% in the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 9,165 shares of the auto manufacturer’s stock valued at $426,000 after buying an additional 670 shares in the last quarter. Finally, Claro Advisors LLC boosted its stake in shares of General Motors by 13.5% in the second quarter. Claro Advisors LLC now owns 8,153 shares of the auto manufacturer’s stock valued at $379,000 after buying an additional 969 shares in the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

General Motors Price Performance

Shares of NYSE GM traded up $0.31 during trading on Monday, reaching $49.78. The company had a trading volume of 15,736,800 shares, compared to its average volume of 15,498,797. The stock has a market capitalization of $55.95 billion, a PE ratio of 6.09, a price-to-earnings-growth ratio of 0.50 and a beta of 1.43. The stock has a 50-day moving average price of $46.08 and a two-hundred day moving average price of $44.49. General Motors has a twelve month low of $26.30 and a twelve month high of $50.50. 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 (NYSE:GM) (TSE:GMM.U) last released 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. 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 period in the prior year, the business posted $1.91 earnings per share. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, sell-side analysts predict that General Motors will post 9.94 earnings per share for the current year.

General Motors announced that its board has initiated a share repurchase plan on Tuesday, June 11th that authorizes the company to repurchase $6.00 billion in 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 board believes its shares are undervalued.

General Motors Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, September 6th. This represents a $0.48 annualized dividend and a yield of 0.96%. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

Insider Buying and Selling

In related news, EVP Rory Harvey sold 12,795 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $49.02, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Rory Harvey sold 12,795 shares of the firm’s 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 transaction, the executive vice president now directly 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 accessible through the SEC website. Also, CEO Mary T. Barra sold 326,305 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $48.33, for a total value of $15,770,320.65. Following the completion of the transaction, the chief executive officer now owns 898,648 shares in the company, valued at $43,431,657.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 391,402 shares of company stock worth $18,818,536. 0.72% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GM has been the topic of a number of analyst reports. Wedbush restated an “outperform” rating and issued a $55.00 price target on shares of General Motors in a research note on Wednesday, July 24th. Morgan Stanley downgraded General Motors from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $46.00 to $47.00 in a research note on Wednesday, July 24th. Nomura downgraded General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target on the stock. in a research note on Monday, August 5th. StockNews.com downgraded General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Finally, Bank of America reiterated a “buy” rating and set a $75.00 target price on shares of General Motors in a research report on Wednesday, June 12th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $55.17.

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.