General Motors (NYSE:GM) Shares Acquired by Townsquare Capital LLC

Townsquare Capital LLC increased its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 10.4% in the third quarter, Holdings Channel reports. The firm owned 71,693 shares of the auto manufacturer’s stock after acquiring an additional 6,729 shares during the period. Townsquare Capital LLC’s holdings in General Motors were worth $3,215,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of GM. LRI Investments LLC purchased a new stake in shares of General Motors in the first quarter worth about $34,000. Cetera Investment Advisers boosted its holdings in General Motors by 98.5% in the 1st quarter. Cetera Investment Advisers now owns 330,611 shares of the auto manufacturer’s stock worth $14,993,000 after acquiring an additional 164,083 shares during the period. Cetera Advisors LLC grew its position in General Motors by 233.2% in the first quarter. Cetera Advisors LLC now owns 177,567 shares of the auto manufacturer’s stock valued at $8,053,000 after acquiring an additional 124,276 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of General Motors by 13.2% during the first quarter. EverSource Wealth Advisors LLC now owns 6,460 shares of the auto manufacturer’s stock valued at $288,000 after purchasing an additional 752 shares during the period. Finally, Transcend Capital Advisors LLC lifted its position in shares of General Motors by 9.7% during the second quarter. Transcend Capital Advisors LLC now owns 59,967 shares of the auto manufacturer’s stock worth $2,786,000 after purchasing an additional 5,296 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Activity at General Motors

In related news, CEO Mary T. Barra sold 506,824 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the transaction, the chief executive officer now owns 694,548 shares in the company, valued at $37,040,244.84. This represents a 42.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Rory Harvey sold 8,919 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $60.01, for a total transaction of $535,229.19. Following the sale, the executive vice president now owns 8,513 shares in the company, valued at $510,865.13. This trade represents a 51.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,030,475 shares of company stock worth $56,509,286 in the last three months. 0.72% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

GM has been the subject of a number of recent analyst reports. Sanford C. Bernstein raised their price target on shares of General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Friday, October 25th. DZ Bank downgraded General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price for the company. in a research note on Friday, October 11th. Wedbush boosted their price target on General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $53.00 price objective on shares of General Motors in a research note on Tuesday, September 10th. Finally, Morgan Stanley lowered General Motors from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $47.00 to $42.00 in a research report on Wednesday, September 25th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $56.92.

General Motors Price Performance

Shares of GM opened at $55.62 on Friday. General Motors has a 12 month low of $31.52 and a 12 month high of $61.24. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. The stock has a fifty day moving average price of $51.56 and a 200 day moving average price of $48.06. The company has a market cap of $61.16 billion, a P/E ratio of 5.93, a PEG ratio of 0.42 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping the consensus estimate of $2.49 by $0.47. The business had revenue of $48.76 billion during the quarter, compared to analyst estimates of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The company’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.28 earnings per share. On average, research analysts forecast that General Motors will post 10.35 earnings per share for the current year.

General Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio (DPR) is 5.12%.

General Motors 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.