General Motors (NYSE:GM) Shares Bought by Lmcg Investments LLC

Lmcg Investments LLC lifted its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 2.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 206,313 shares of the auto manufacturer’s stock after acquiring an additional 5,649 shares during the quarter. Lmcg Investments LLC’s holdings in General Motors were worth $9,585,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GM. Capital World Investors increased its position in shares of 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 purchasing an additional 6,201,777 shares during the period. Putnam Investments LLC grew its holdings in General Motors by 16.8% during the fourth quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock worth $726,942,000 after acquiring an additional 2,905,689 shares during the period. Hotchkis & Wiley Capital Management LLC grew its holdings in General Motors by 21.9% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock worth $650,062,000 after acquiring an additional 3,247,050 shares during the period. Norges Bank bought a new stake in General Motors in the fourth quarter worth about $602,280,000. Finally, Franklin Resources Inc. lifted its holdings in General Motors by 12.0% in the 4th quarter. Franklin Resources Inc. now owns 13,731,249 shares of the auto manufacturer’s stock valued at $493,226,000 after acquiring an additional 1,472,297 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

Analyst Ratings Changes

GM has been the topic of a number of research reports. Wolfe Research started coverage on shares of General Motors in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Nomura cut General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target on the stock. in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $53.00 price objective on shares of General Motors in a research note on Tuesday, September 10th. Royal Bank of Canada cut their target price on General Motors from $58.00 to $54.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Finally, Wedbush reiterated an “outperform” rating and issued a $55.00 price target on shares of General Motors in a research report on Wednesday, July 24th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, General Motors presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.27.

Insider Transactions at General Motors

In other General Motors 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 transaction of $627,210.90. Following the completion of the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at $417,307.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other General Motors news, EVP Rory Harvey sold 12,795 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $49.02, for a total transaction 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 document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Paul A. Jacobson purchased 25,000 shares of the stock in a transaction dated Friday, July 26th. The stock was acquired at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the transaction, the chief financial officer now owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. The disclosure for this purchase can be found here. 0.72% of the stock is currently owned by corporate insiders.

General Motors Stock Up 1.2 %

Shares of General Motors stock opened at $46.87 on Tuesday. The firm has a market cap of $53.48 billion, a price-to-earnings ratio of 5.73, a P/E/G ratio of 0.52 and a beta of 1.43. The stock has a 50-day simple moving average of $46.20 and a 200-day simple moving average of $45.08. General Motors has a 52-week low of $26.30 and a 52-week 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 posted its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, topping the consensus estimate of $2.67 by $0.39. The company had revenue of $47.97 billion during the quarter, compared to the consensus estimate of $45.13 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The company’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 earnings per share. On average, equities research analysts expect that General Motors will post 9.95 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Friday, September 6th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.02%. General Motors’s dividend payout ratio is currently 5.87%.

General Motors declared that its Board of Directors has initiated a share buyback program on Tuesday, June 11th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to buy up to 10.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

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.